Gambling software firm Playtech says biggest client refusing to pay more than €120 million in fees

Playtech, a gambling software company, is facing a payment refusal exceeding €120 million in fees from its largest client, Caliplay, amid ongoing legal disputes.

Despite this, Playtech is optimistic about recovering the funds through legal action and has included the expected revenue in its financial projections. The dispute hasn't halted Playtech's financial growth, with a reported revenue increase to €1.7 billion and profits reaching €235.8 million in 2023.

CEO Mor Weizer expressed confidence in the company's strategic direction and shareholder value creation. Amidst takeover rumors and a notable interest in acquisitions, such as an attempt to purchase William Hill's owner 888, Playtech is considered both a takeover target and an active buyer in the market.

The company's financial success and strategic expansions align with a positive outlook, although the outcome of the Caliplay legal case in October poses a potential revenue risk, according to Edison Group's research director, Neil Shah.