Online gaming software supplier Playtech last week announced it is halting its operations for at least a month in Italy, officially on lockdown due to the coronavirus.
Playtech, a supplier of online games and technology to the iGaming industry worldwide, counts Italy and China among its major markets. Company officials have already acknowledged the supplier is going to take major revenue hits in both markets, the epicenters of the virus outbreak in Europe and Asia.
Playtech was on track for a strong 2019, initially reporting revenue growth of $1.7 billion, 23% higher than last year, and adjusted EBITDA up 11% to $433.28 million. However, according to a report in CalfinAyre.com, discontinued operations and tax liabilities forced a $22.16 million loss for 2019.
Playtech also the owner of Italy-based sports gambling firm Snaitech, of which it purchased a controlling 70.6 percent stake in 2018.
