Playtech expects to launch its sports betting platform in Brazil early in 2027, despite political pressure on its partner, state-owned bank Caixa. CEO Mor Weizer confirmed the timeline during the company's second-quarter earnings call.
Playtech signed a partnership with Caixa in 2025 to power the bank's sportsbook operations. Caixa has already paid the licensing fee of 30 million reais ($5.9 million), but the launch has been delayed several times due to the bank's state ownership and President Luiz Inácio Lula da Silva's criticism of gambling. In April, Caixa pushed the start date back to at least 2027. Weizer said the delay is tied to parliamentary elections in November: 'We were asked to wait until after the elections, given the sensitivity around gambling.' CFO Chris McGinnis noted that the Brazil deal was not factored into the mid-term guidance published in March last year and could strengthen the group's performance.
Playtech's first-half revenue rose 10% to €425.1 million. The US and Canada drove growth, with revenue from those markets jumping 161% to €56.9 million. Adjusted EBITDA climbed 77% to €162.5 million, of which €128.1 million came from B2B.
