The upcoming 40% remote gambling tax in the UK, effective in April, is forcing Playtech to reassess its white-label business Sun Bingo. During the fiscal year 2025 financial report, Playtech's CFO revealed that the business is expected to be unprofitable under the new tax rate. The company has initiated an operational review, but executives believe that in the long run, Sun Bingo still holds value in Playtech — although customer-facing, its business model leans more towards B2B rather than B2C. In plain terms, the tax rate is too high to bear, and they need to decide whether to close or keep it.
Brazil Betting: Partnership with Caixa Bank could be "the biggest opportunity in the coming years"
Despite the pressure on its UK operations, Playtech is very optimistic about the Brazilian market. CEO Mor Weizer described the partnership with state-owned Caixa Bank as "one of the most important opportunities in the coming years." With 140 million registered customers and 150 million adults nationwide, Caixa's brand recognition is unmatched. If its gambling products launch, it could become a market leader in Brazil. Although Caixa's gambling plans were shelved last November due to domestic political pressure, there is still hope for a restart with the upcoming October elections. Playtech has already won the platform supply tender for 2025, just waiting for the right moment.
Performance Review: Americas lead, group revenue down 10%
In 2025, Playtech's group revenue fell by 10% to 763.6 million euros, with EBITDA down 9% to 197 million euros. B2B business revenue decreased by 9% to 688.3 million euros, and adjusted EBITDA dropped 36% to 141.4 million euros, mainly due to the new Caliente agreement. However, the Americas performed well, with US revenue growing by about 100%, and the Mexican Caliente partnership also making a significant contribution. The company expects further growth in the region driven by the 2026 World Cup (partially hosted in Mexico). Despite tax headwinds in several markets, Playtech still expects its 2026 performance to exceed current market expectations. Want to keep up with the latest news from the global gambling B2B giant? PASA's official website continues to track.
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