Back to catalogue
PTEC

Playtech PLC

Travel and Leisure First-pass screen £1.1bn
390/1000 Overall fit
AI beneficiary 35% 35
Operating leverage 25% 50
Valuation 25% 30
Downside protection 15% 45

First-pass take

Platform-based SaaS model (48% growth) with structural leverage potential, but FY25 delivered margin compression (21% B2B EBITDA vs. 29% prior year) and weak FCF (€29.5m). Significant regulatory headwinds (UK RGD to 40%, Brazil/Colombia tax uncertainty) and customer concentration on major operators. No AI strategic exposure. Valuation data unavailable.

Flags

no-valuation-dataregulatory-headwindscustomer-concentrationmargin-compressionweak-fcfuk-tax-riskcyclical