UK-listed gambling technology provider Playtech says its 2018 earnings targets remain on track despite Asian grey- and black-market headwinds.

On Monday, Playtech issued a trading update covering the period following June 30, saying its performance was “consistent with the expectations” the company offered when it released its H1 2018 earnings report in August. Playtech says its annual earnings will likely come in between €320m-€360m.

The company’s H1 report revealed a 15% earnings decline thanks to what it called “disappointing market conditions in Asia.” In July, Playtech had warned that increased competition by its customers in Asian grey- and black-markets was “materially below” expectations. Playtech now says its Asian revenue has “stabilized at an annualized revenue run-rate of approximately €150 million.’

Playtech’s Asian operations got a boost last month after the Philippine Amusement and Gaming Corporation (PAGCOR) announced that a Playtech subsidiary was the only RNG casino game technology provider that had (so far) been approved to supply the regulator’s online gambling licensees, who include most of the Asian-facing market’s big players.