{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "playtechplc": "http://playtechplc.com/xbrl/2024", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://playtechplc.com/xbrl/2024/21380068TTB6Z9ZEU548-2024-12-31.xsd" ] }, "facts": { "fact-1": { "value": "Playtech is the leading platform, content and services provider in the online gambling industry, with a clear strategy to benefit our shareholders, customers, colleagues and the environment. Founded in 1999 and with a listing on the Main Market of the London Stock Exchange, the Company partners with and invests in the leading brands in regulated and newly regulating markets to deliver its data-driven gambling technology across the online and retail value chain.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-2": { "value": "public listed company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-4": { "value": "Isle of Man", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-3": { "value": "UK", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-8": { "value": "848000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-9": { "value": "848000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-10": { "value": "771900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-11": { "value": "771900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-12": { "value": "553000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-13": { "value": "527200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-14": { "value": "500700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-15": { "value": "499400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DistributionCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-16": { "value": "156700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-17": { "value": "95500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-18": { "value": "112900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-19": { "value": "91400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-20": { "value": "10600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-21": { "value": "10600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-22": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-23": { "value": "4900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-24": { "value": "127700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EBITDA", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-25": { "value": "214700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EBITDA", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-26": { "value": "152000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EBITDA", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-27": { "value": "176200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EBITDA", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-28": { "value": "104200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-29": { "value": "98000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-30": { "value": "107700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-31": { "value": "95700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-32": { "value": "120200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ImpairmentOfPropertyPlantAndEquipmentIntangibleAssetsAndRightOfUseAsse", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-33": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ImpairmentOfPropertyPlantAndEquipmentIntangibleAssetsAndRightOfUseAsse", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-34": { "value": "89800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ImpairmentOfPropertyPlantAndEquipmentIntangibleAssetsAndRightOfUseAsse", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-35": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ImpairmentOfPropertyPlantAndEquipmentIntangibleAssetsAndRightOfUseAsse", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-36": { "value": "4300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProvisionAgainstAssetHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-37": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProvisionAgainstAssetHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-38": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProvisionAgainstAssetHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-39": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProvisionAgainstAssetHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-40": { "value": "-900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnDisposalsOfNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-41": { "value": "-900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnDisposalsOfNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-42": { "value": "1600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnDisposalsOfNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-43": { "value": "1600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnDisposalsOfNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-44": { "value": "30200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-45": { "value": "30200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-46": { "value": "10200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-47": { "value": "10200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-48": { "value": "46500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-49": { "value": "42700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-50": { "value": "41800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-51": { "value": "38300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-52": { "value": "-3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-53": { "value": "-3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-54": { "value": "-900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-55": { "value": "-900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-56": { "value": "51100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:UnrealisedFairValueChangesOnEquityInvestments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-57": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:UnrealisedFairValueChangesOnEquityInvestments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-58": { "value": "-6600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:UnrealisedFairValueChangesOnEquityInvestments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-59": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:UnrealisedFairValueChangesOnEquityInvestments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-60": { "value": "61500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-61": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-62": { "value": "153400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-63": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-64": { "value": "-9400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-65": { "value": "99500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-66": { "value": "70400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-67": { "value": "53100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-68": { "value": "127100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-69": { "value": "41000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-70": { "value": "82500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-71": { "value": "38900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-72": { "value": "-136500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-73": { "value": "58500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-74": { "value": "-12100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-75": { "value": "14200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-76": { "value": "112300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-77": { "value": "164700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-78": { "value": "117200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-79": { "value": "142600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-80": { "value": "-24200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-81": { "value": "223200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-82": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-83": { "value": "156800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-84": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-85": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-86": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-87": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-88": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-89": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-90": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-91": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-92": { "value": "-11500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-93": { "value": "235900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-94": { "value": "97400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-95": { "value": "149100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-96": { "value": "-23900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-97": { "value": "223500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-98": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-99": { "value": "156800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-100": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-101": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-102": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-103": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-104": { "value": "-24200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-105": { "value": "223200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-106": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-107": { "value": "156800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-108": { "value": "-11200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-109": { "value": "236200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-110": { "value": "97400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-111": { "value": "149100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-112": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-113": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-114": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-115": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-116": { "value": "-11500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-117": { "value": "235900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-118": { "value": "97400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-119": { "value": "149100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR" } }, "fact-120": { "value": "-0.078", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-121": { "value": "0.732", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-122": { "value": "0.347", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-123": { "value": "0.517", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-124": { "value": "-0.078", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-125": { "value": "0.717", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-126": { "value": "0.347", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-127": { "value": "0.502", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-128": { "value": "-0.446", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-129": { "value": "0.192", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-130": { "value": "-0.039", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-131": { "value": "0.047", "decimals": 3, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-132": { "value": "-0.446", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-133": { "value": "0.188", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-134": { "value": "-0.039", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-135": { "value": "0.046", "decimals": 3, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "playtechplc:ConsolidatedStatementOfComprehensiveIncomeAxis": "playtechplc:AdjustedMember", "unit": "iso4217:EUR/xbrli:shares" } }, "fact-136": { "value": "606000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-137": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-138": { "value": "1113000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-139": { "value": "-17200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-140": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-141": { "value": "1702500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-142": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-143": { "value": "1702500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember", "unit": "iso4217:EUR" } }, "fact-144": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-145": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-146": { "value": "15300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-147": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-148": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-149": { "value": "15300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-150": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-151": { "value": "15300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfCorrectionsOfAccountingErrorsMember", "unit": "iso4217:EUR" } }, "fact-152": { "value": "606000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-153": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-154": { "value": "1128300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-155": { "value": "-17200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-156": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-157": { "value": "1717800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-158": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-159": { "value": "1717800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-160": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-161": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-162": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-163": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-164": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-165": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-166": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-167": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-168": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-169": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-170": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-171": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-172": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-173": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-174": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-175": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-176": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-177": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-178": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-179": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-180": { "value": "-7700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-181": { "value": "97400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-182": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-183": { "value": "97400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-184": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-185": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-186": { "value": "-11900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-187": { "value": "11900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-188": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-189": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-190": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-191": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-192": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-193": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-194": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-195": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-196": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-197": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-198": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-199": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-200": { "value": "5800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-201": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-202": { "value": "6700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-203": { "value": "-12500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-204": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-205": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-206": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-207": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-208": { "value": "5800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-209": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-210": { "value": "1100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-211": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-212": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-213": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-214": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-215": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-216": { "value": "5800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-217": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-218": { "value": "1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-219": { "value": "-600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-220": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-221": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-222": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-223": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-224": { "value": "611800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-225": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-226": { "value": "1234500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-227": { "value": "-17800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-228": { "value": "-7400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-229": { "value": "1821500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-230": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-231": { "value": "1821500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-232": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-233": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-234": { "value": "-23900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-235": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-236": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-237": { "value": "-23900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-238": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-239": { "value": "-24200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-240": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-241": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-242": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-243": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-244": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-245": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-246": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-247": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-248": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-249": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-250": { "value": "-23900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-251": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-252": { "value": "12700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-253": { "value": "-11200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-254": { "value": "-300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-255": { "value": "-11500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-256": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-257": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-258": { "value": "-9100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-259": { "value": "9100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-260": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-261": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-262": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-263": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-264": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-265": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-266": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-267": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-268": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-269": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-270": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-271": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-272": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-273": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-274": { "value": "-3800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-275": { "value": "9100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-276": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-277": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-278": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-279": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalContributionsAndDistributions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-280": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-281": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-282": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-283": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-284": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-285": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-286": { "value": "-200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-287": { "value": "-200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-288": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-289": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-290": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-291": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-292": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-293": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-294": { "value": "-200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-295": { "value": "-200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:TotalChangesInOwnershipInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-296": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-297": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-298": { "value": "-3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-299": { "value": "9100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-300": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-301": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-302": { "value": "-200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-303": { "value": "5100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-304": { "value": "611800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:EUR" } }, "fact-305": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "playtechplc:EmployeeTerminationIndemnitiesMember", "unit": "iso4217:EUR" } }, "fact-306": { "value": "1206800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "fact-307": { "value": "-8700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "fact-308": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "fact-309": { "value": "1815600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "fact-310": { "value": "-500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "fact-311": { "value": "1815100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-312": { "value": "93900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-313": { "value": "350200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-314": { "value": "341400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-315": { "value": "34000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-316": { "value": "71000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-317": { "value": "71600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-318": { "value": "314100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-319": { "value": "881200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-320": { "value": "980900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-321": { "value": "76400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-322": { "value": "51500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-323": { "value": "36600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-324": { "value": "152100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-325": { "value": "92800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-326": { "value": "9200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-327": { "value": "895000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-328": { "value": "827800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-329": { "value": "636400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-330": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-331": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-332": { "value": "1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-333": { "value": "16600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-334": { "value": "77800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-335": { "value": "129300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-336": { "value": "147000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-337": { "value": "137000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-338": { "value": "109600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-339": { "value": "1729100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-340": { "value": "2491200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-341": { "value": "2316100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-342": { "value": "141600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTradeReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-343": { "value": "207100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTradeReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-344": { "value": "163900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTradeReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-345": { "value": "85800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-346": { "value": "100500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-347": { "value": "107600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-348": { "value": "6900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-349": { "value": "6800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-350": { "value": "5500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-351": { "value": "268100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-352": { "value": "516200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-353": { "value": "426500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-354": { "value": "502400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-355": { "value": "830600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-356": { "value": "703500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssetsOtherThanAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-357": { "value": "1066400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-358": { "value": "19300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-359": { "value": "19600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-360": { "value": "1568800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-361": { "value": "849900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-362": { "value": "723100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-363": { "value": "3297900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-364": { "value": "3341100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-365": { "value": "3039200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-366": { "value": "611800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdditionalPaidinCapital", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-367": { "value": "611800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdditionalPaidinCapital", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-368": { "value": "606000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdditionalPaidinCapital", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-369": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EmployeeTerminationIndemnities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-370": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EmployeeTerminationIndemnities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-371": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EmployeeTerminationIndemnities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-372": { "value": "8700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EmployeeBenefitTrust", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-373": { "value": "17800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EmployeeBenefitTrust", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-374": { "value": "17200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:EmployeeBenefitTrust", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-375": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-376": { "value": "-7400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-377": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-378": { "value": "1206800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-379": { "value": "1234500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-380": { "value": "1128300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-381": { "value": "1815600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-382": { "value": "1821500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-383": { "value": "1717800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-384": { "value": "-500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-385": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-386": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-387": { "value": "1815100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-388": { "value": "1821500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-389": { "value": "1717800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-390": { "value": "447700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentPortionOfNoncurrentBondsIssued", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-391": { "value": "646100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentPortionOfNoncurrentBondsIssued", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-392": { "value": "348000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentPortionOfNoncurrentBondsIssued", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-393": { "value": "26500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-394": { "value": "61900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-395": { "value": "54000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-396": { "value": "1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAdvances", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-397": { "value": "1800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAdvances", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-398": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentAdvances", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-399": { "value": "19200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-400": { "value": "161600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-401": { "value": "124800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-402": { "value": "9800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:NoncurrentDeferredAndContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-403": { "value": "5800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:NoncurrentDeferredAndContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-404": { "value": "2300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:NoncurrentDeferredAndContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-405": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-406": { "value": "8900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-407": { "value": "10000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentProvisions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-408": { "value": "15100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-409": { "value": "34800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-410": { "value": "24900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherNoncurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-411": { "value": "519400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-412": { "value": "920900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-413": { "value": "565000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-414": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentBondsIssuedAndCurrentPortionOfNoncurrentBondsIssued", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-415": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentBondsIssuedAndCurrentPortionOfNoncurrentBondsIssued", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-416": { "value": "199600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentBondsIssuedAndCurrentPortionOfNoncurrentBondsIssued", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-417": { "value": "61600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-418": { "value": "66900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-419": { "value": "61200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-420": { "value": "19800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-421": { "value": "24900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-422": { "value": "31800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-423": { "value": "99800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProgressiveOperatorsJackpotsAndSecurityDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-424": { "value": "111000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProgressiveOperatorsJackpotsAndSecurityDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-425": { "value": "114300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ProgressiveOperatorsJackpotsAndSecurityDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-426": { "value": "2500000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ClientFunds", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-427": { "value": "41900000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ClientFunds", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-428": { "value": "39800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:ClientFunds", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-429": { "value": "45000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-430": { "value": "14000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-431": { "value": "17300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-432": { "value": "4800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:GamingAndOtherTaxesPayable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-433": { "value": "116100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:GamingAndOtherTaxesPayable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-434": { "value": "112800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:GamingAndOtherTaxesPayable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-435": { "value": "5800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAdvances", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-436": { "value": "4400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAdvances", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-437": { "value": "5000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentAdvances", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-438": { "value": "8100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CurrentDeferredAndContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-439": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CurrentDeferredAndContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-440": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CurrentDeferredAndContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-441": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-442": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-443": { "value": "3900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentProvisions", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-444": { "value": "210800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentPayables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-445": { "value": "217500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentPayables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-446": { "value": "169100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherCurrentPayables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-447": { "value": "458200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-448": { "value": "597700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-449": { "value": "755400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilitiesOtherThanLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-450": { "value": "505200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-451": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-452": { "value": "1000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-453": { "value": "963400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-454": { "value": "598700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-455": { "value": "756400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-456": { "value": "1482800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-457": { "value": "1519600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-458": { "value": "1321400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-459": { "value": "3297900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-460": { "value": "3341100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-461": { "value": "3039200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-5": { "value": "The consolidated financial statements were approved by the Board and authorised for issue on 27 March 2025. A Mor Weizer A Chris McGinnis Chief Executive Officer Chief Financial Officer ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-462": { "value": "-24200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-463": { "value": "105100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-464": { "value": "452700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForReconcileProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-465": { "value": "299600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForReconcileProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-466": { "value": "37400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-467": { "value": "45900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-468": { "value": "391100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-469": { "value": "358800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-470": { "value": "28100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:LoansGrantedClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-471": { "value": "23800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:LoansGrantedClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-472": { "value": "2800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:LoansRepaidClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-473": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:LoansRepaidClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-474": { "value": "22900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-475": { "value": "8100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-476": { "value": "3500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-477": { "value": "1500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-478": { "value": "12000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-479": { "value": "3600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-480": { "value": "62300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-481": { "value": "57600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-482": { "value": "44700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-483": { "value": "35700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-484": { "value": "48800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-485": { "value": "56700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsForDevelopmentProjectExpenditure", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-486": { "value": "18900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfInterestsInAssociates", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-487": { "value": "9200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfInterestsInAssociates", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-488": { "value": "4900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-489": { "value": "94100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-490": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashPaymentsForFutureContractsForwardContractsOptionContractsAndSwapContractsClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-491": { "value": "41300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashPaymentsForFutureContractsForwardContractsOptionContractsAndSwapContractsClassifiedAsInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-492": { "value": "2100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-493": { "value": "2500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-494": { "value": "-188400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-495": { "value": "-309500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-496": { "value": "35000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:InterestPaidOnBondsAndLoansAndBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-497": { "value": "31300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:InterestPaidOnBondsAndLoansAndBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-498": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-499": { "value": "77400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-500": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-501": { "value": "79900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-502": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-503": { "value": "297200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-504": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:RepaymentOf2018BondsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-505": { "value": "200000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:RepaymentOf2018BondsClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-506": { "value": "200000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:RepaymentOf2019BondsClassifiedAsFInancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-507": { "value": "-0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:RepaymentOf2019BondsClassifiedAsFInancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-508": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ConsiderationPaidReceived", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-509": { "value": "200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ConsiderationPaidReceived", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-510": { "value": "25800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-511": { "value": "23100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-512": { "value": "4700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:InterestPaidOnLeaseLiabilityClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-513": { "value": "5200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:InterestPaidOnLeaseLiabilityClassifiedAsFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-514": { "value": "-266000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-515": { "value": "39900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-516": { "value": "-63300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-517": { "value": "89200000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-518": { "value": "516600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-519": { "value": "426900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-520": { "value": "1100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-521": { "value": "500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-522": { "value": "454400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-523": { "value": "516600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-524": { "value": "268500000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CashAndCashEquivalentContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-525": { "value": "516600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CashAndCashEquivalentContinuingOperations", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-526": { "value": "185900000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CashAndCashEquivalentTreatedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-527": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:CashAndCashEquivalentTreatedAsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-528": { "value": "454400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-529": { "value": "516600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-530": { "value": "48900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-531": { "value": "46500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-532": { "value": "109000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForAmortisationOfIntangibleAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-533": { "value": "126700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForAmortisationOfIntangibleAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-534": { "value": "23300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForAmortisationOfRightOfUseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-535": { "value": "23300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForAmortisationOfRightOfUseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-536": { "value": "1200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForCapitalisationOfAmortisationOfRightOfUseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-537": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForCapitalisationOfAmortisationOfRightOfUseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-538": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForGainOnEarlyTerminationOfLeaseContracts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-539": { "value": "400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForGainOnEarlyTerminationOfLeaseContracts", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-540": { "value": "-3800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-541": { "value": "-800000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-542": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentAndExpectedCreditLossesOnLoansReceivable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-543": { "value": "2400000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentAndExpectedCreditLossesOnLoansReceivable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-544": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentOfInvestment", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-545": { "value": "1300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentOfInvestment", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-546": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentOfOtherReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-547": { "value": "2200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentOfOtherReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-548": { "value": "120200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentOfIntangibleAssetsPropertyPlantAndEquipmentAndRightOfUseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-549": { "value": "89800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForImpairmentOfIntangibleAssetsPropertyPlantAndEquipmentAndRightOfUseAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-550": { "value": "4300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForProvisionAgainstAssetsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-551": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForProvisionAgainstAssetsHeldForSale", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-552": { "value": "-51100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangesInFairValueOfEquityInvestments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-553": { "value": "6600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangesInFairValueOfEquityInvestments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-554": { "value": "-61500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-555": { "value": "-153400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInDerivativeFinancialAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-556": { "value": "-3300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedClassifiedAsOperatingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-557": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsReceivedClassifiedAsOperatingActivities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-558": { "value": "34000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestOnBondsAndLoansAndBorrowings", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-559": { "value": "30900000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestOnBondsAndLoansAndBorrowings", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-560": { "value": "4700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestOnLeaseLiability", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-561": { "value": "5200000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestOnLeaseLiability", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-562": { "value": "3300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestIncomeOnLoansReceivable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-563": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestIncomeOnLoansReceivable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-564": { "value": "24500000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestIncomeFromBanksAndOther", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-565": { "value": "8100000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForInterestIncomeFromBanksAndOther", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-566": { "value": "173100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-567": { "value": "130700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-568": { "value": "5300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-569": { "value": "6300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-570": { "value": "3800000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForMovementsInContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-571": { "value": "3300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForMovementsInContingentConsideration", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-572": { "value": "-5700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-573": { "value": "-2900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForUnrealisedForeignExchangeLossesGains", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-574": { "value": "600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-575": { "value": "-1400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-576": { "value": "-15100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-577": { "value": "-47900000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-578": { "value": "-24000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInOtherOperatingReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-579": { "value": "-400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInOtherOperatingReceivables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-580": { "value": "-700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-581": { "value": "-1300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-582": { "value": "19400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-583": { "value": "4500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-584": { "value": "1900000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangeInProgressiveOperatorsJackpotsSecurityDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-585": { "value": "-3300000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangeInProgressiveOperatorsJackpotsSecurityDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-586": { "value": "-5600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangeInClientFundsAndDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-587": { "value": "2000000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangeInClientFundsAndDeposits", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-588": { "value": "93100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherOperatingPayables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-589": { "value": "44100000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherOperatingPayables", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-590": { "value": "-700000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangeInProvisionsForRisksAndCharges", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-591": { "value": "-4600000.0", "decimals": -5, "dimensions": { "concept": "playtechplc:AdjustmentsForChangeInProvisionsForRisksAndCharges", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-592": { "value": "1700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDeferredIncomeIncludingContractLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-593": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInDeferredIncomeIncludingContractLiabilities", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-594": { "value": "452700000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForReconcileProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-595": { "value": "299600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:AdjustmentsForReconcileProfitLoss", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "fact-598": { "value": "
Note 1 \u2013 General
Playtech plc (the \u201cCompany\u201d) is an Isle of Man company. The registered office is located at St George\u2019s Court, Upper Church Street, Douglas, Isle of Man
IM1 1EE. Playtech plc is managed and controlled in the UK and, as a result, is UK tax resident.
These consolidated financial statements comprise the Company and its subsidiaries (together referred to as the \u201cGroup\u201d).
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-6": { "value": "Playtech plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-596": { "value": "Playtech plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-7": { "value": "St George\u2019s Court, Upper Church Street, Douglas, Isle of Man IM1 1EE", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-599": { "value": "
Note 2 \u2013 Basis of accounting
This financial information does not constitute the Group\u2019s or Company\u2019s statutory accounts for the years ended 31 December 2024 or 2023 but is derived
from those accounts. The auditor has reported on those accounts; their reports were (i) unqualified and (ii) did not include a reference to any matters to which
the auditor drew attention by way of emphasis without qualifying their report. The financial information has been prepared in accordance with the UK-adopted
International Accounting Standards (IAS).
Details of the Group\u2019s accounting policies are included in Notes 4 and 5.
Going concern basis
In adopting the going concern basis in the preparation of the financial statements, the Directors have considered the current trading performance, financial
position and liquidity of the Group, the principal and emerging risks and uncertainties together with scenario planning and reverse stress tests. The Directors
have assessed going concern over a 15-month period to 30 June 2026 which aligns with the six-monthly covenant measurement period.
31 December 31 December
2024 2023
\u20ac\u2019m \u20ac\u2019m
Cash and cash equivalents
454.0
516.2
Cash held on behalf of clients, progressive jackpots and security deposits
(149.1)
(152.9)
Adjusted gross cash and cash equivalents
304.9
363.3
The decrease in adjusted gross cash and cash equivalents from \u20ac363.3 million at 31 December 2023 to \u20ac304.9 million at 31 December 2024 is due to the bond
repayment of \u20ac200.0 million in December 2024 offset by cash generation due to the strong Group performance in 2024. The cash position during the year
improved significantly due to the resolution of the Caliplay dispute which meant that all aged outstanding amounts were repaid, with a balance held in escrow
that will be released either on completion of the revised Caliplay arrangements, or in any case by the end of 2025.
The base case cash flows for the going concern period include only the continuing operations post sale of Snaitech, implementation of the revised terms of
the Caliplay arrangements (Note 6), repayment in 2025 of the remaining \u20ac150.0 million of the original \u20ac350.0 million 2019 Bond and activation of a new RCF on
completion of the sale of Snaitech (see below).
The Directors have reviewed liquidity and covenant forecasts for the Group and have also considered sensitivities in respect of potential downside scenarios,
reverse stress tests and the mitigating actions available to management. The modelling of downside stress test scenarios assessed if there is a significant risk
to the Group\u2019s liquidity and covenant compliance position. This includes risks such as not realising budget/forecasts across certain markets and the unlikely
event that no dividend is received from Caliplay, post the completion of the revised arrangements.
The Group\u2019s principal financing arrangements as at 31 December 2024 includes a revolving credit facility (RCF) of up to \u20ac277.0 million (which as at
31 December 2024 remains fully undrawn), as well as the remaining outstanding balance of the 2019 Bond of \u20ac150.0 million (\u20ac200.0 million was repaid in
December 2024) and the 2023 Bond of \u20ac300.0 million, which are repayable in March 2026 and June 2028 respectively.
The current RCF of \u20ac277.0 million is available until October 2025, with the Group having the option to request a 12-month extension. On 26 March 2025, the
Group signed an agreement for a new amended \u20ac225.0 million 5-year RCF facility, which, subject to completion of the sale of Snaitech (expected to occur in Q2
2025), will amend and restate the existing \u20ac277.0 million RCF facility and become effective on completion of the Snaitech sale.
If the sale of Snaitech does not proceed to completion, the Group would exercise the option to extend the current RCF to October 2026. In those
circumstances, it is not currently anticipated that the Group would experience any issues in negotiating a new RCF prior to October 2026.
The existing RCF is subject to certain financial covenants which are tested every six months on a rolling 12-month basis, as set out in Notes 26 and 27. Under the
amended RCF, the below covenant ratios have not changed. As at 31 December 2024, the Group comfortably met its covenants, which were as follows:
\u2022 Leverage: Net Debt/Adjusted EBITDA to be less than 3.5:1 for the 12 months ended 31 December 2024 (2023: less than 3.5:1).
\u2022 Interest cover: Adjusted EBITDA/Interest to be over 4:1 for the 12 months ended 31 December 2024 (2023: over 4:1).
The Bonds only have one financial covenant, being the Fixed Charge Coverage Ratio (same as the Interest cover ratio for the RCF), which should equal or be
greater than 2:1.
If the Group\u2019s results and cash flows are in line with its base case projections as approved by the Board, it would not be in breach of the financial covenants
(under both the existing but also amended RCF that will become effective following the Snaitech disposal) for a period of no less than 15 months from approval
of these financial statements (the \u201crelevant going concern period\u201d). This period covers the bank reporting requirements for June 2025, December 2025 and
June 2026 and is the main reason why the Directors selected a 15-month period of assessment. Under the base case scenario, the Group would not need to
utilise its RCF facility over the going concern period.
Stress test
The stress test assumes a worst-case scenario for the entire Group which includes additional sensitivities around USA and Latin America but with mitigations
available (including capital expenditure reductions) if needed. It also assumes a scenario whereby Caliplay does not pay any dividends once the revised
arrangements are completed (Playtech will own a 30.8% stake in Caliplay Interactive \u2013 see Note 6), although this is considered extremely remote since (subject
to available cash and applicable law) Playtech and all other Caliplay Interactive stockholders will receive dividends, at least quarterly, pursuant to an agreed
dividend policy.
Under this scenario, the Group would still comfortably meet its covenants. From a liquidity perspective the Group would still not need to utilise the RCF.
Reverse stress test
The reverse stress test was used to identify the reduction in Adjusted EBITDA required that could result in either a liquidity event or breach of the RCF and bond
covenants.
As a result of completing this assessment, without considering further mitigating actions, management considered the likelihood of the reverse stress test
scenario arising to be remote. In reaching this conclusion, management considered the following:
\u2022 current trading is performing above the base case;
\u2022 Adjusted EBITDA would have to fall by 67% in the year ending 31 December 2025 and 78% in the 12 months to June 2026, compared to the base case, to
cause a breach of covenants; and
\u2022 in the event that revenues decline to this point to drive the decrease in Adjusted EBITDA, additional mitigating actions are available to management which
have not been factored into the reverse stress test scenario.
As such, the Directors have a reasonable expectation that the Group will have adequate financial resources to continue in operational existence over the
relevant going concern period and have therefore considered it appropriate to adopt the going concern basis in preparing these financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-693": { "value": "This financial information does not constitute the Group\u2019s or Company\u2019s statutory accounts for the years ended 31 December 2024 or 2023 but is derived from those accounts. The auditor has reported on those accounts; their reports were (i) unqualified and (ii) did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying their report. The financial information has been prepared in accordance with the UK-adopted International Accounting Standards (IAS). ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-650": { "value": "Going concern basis In adopting the going concern basis in the preparation of the financial statements, the Directors have considered the current trading performance, financial position and liquidity of the Group, the principal and emerging risks and uncertainties together with scenario planning and reverse stress tests. The Directors have assessed going concern over a 15-month period to 30 June 2026 which aligns with the six-monthly covenant measurement period.
31 December 31 December
2024 2023
\u20ac\u2019m \u20ac\u2019m
Cash and cash equivalents
454.0
516.2
Cash held on behalf of clients, progressive jackpots and security deposits
(149.1)
(152.9)
Adjusted gross cash and cash equivalents
304.9
363.3
The decrease in adjusted gross cash and cash equivalents from \u20ac363.3 million at 31 December 2023 to \u20ac304.9 million at 31 December 2024 is due to the bond repayment of \u20ac200.0 million in December 2024 offset by cash generation due to the strong Group performance in 2024. The cash position during the year improved significantly due to the resolution of the Caliplay dispute which meant that all aged outstanding amounts were repaid, with a balance held in escrow that will be released either on completion of the revised Caliplay arrangements, or in any case by the end of 2025. The base case cash flows for the going concern period include only the continuing operations post sale of Snaitech, implementation of the revised terms of the Caliplay arrangements (Note 6), repayment in 2025 of the remaining \u20ac150.0 million of the original \u20ac350.0 million 2019 Bond and activation of a new RCF on completion of the sale of Snaitech (see below). The Directors have reviewed liquidity and covenant forecasts for the Group and have also considered sensitivities in respect of potential downside scenarios, reverse stress tests and the mitigating actions available to management. The modelling of downside stress test scenarios assessed if there is a significant risk to the Group\u2019s liquidity and covenant compliance position. This includes risks such as not realising budget/forecasts across certain markets and the unlikely event that no dividend is received from Caliplay, post the completion of the revised arrangements. The Group\u2019s principal financing arrangements as at 31 December 2024 includes a revolving credit facility (RCF) of up to \u20ac277.0 million (which as at 31 December 2024 remains fully undrawn), as well as the remaining outstanding balance of the 2019 Bond of \u20ac150.0 million (\u20ac200.0 million was repaid in December 2024) and the 2023 Bond of \u20ac300.0 million, which are repayable in March 2026 and June 2028 respectively. The current RCF of \u20ac277.0 million is available until October 2025, with the Group having the option to request a 12-month extension. On 26 March 2025, the Group signed an agreement for a new amended \u20ac225.0 million 5-year RCF facility, which, subject to completion of the sale of Snaitech (expected to occur in Q2 2025), will amend and restate the existing \u20ac277.0 million RCF facility and become effective on completion of the Snaitech sale. If the sale of Snaitech does not proceed to completion, the Group would exercise the option to extend the current RCF to October 2026. In those circumstances, it is not currently anticipated that the Group would experience any issues in negotiating a new RCF prior to October 2026. The existing RCF is subject to certain financial covenants which are tested every six months on a rolling 12-month basis, as set out in Notes 26 and 27. Under the amended RCF, the below covenant ratios have not changed. As at 31 December 2024, the Group comfortably met its covenants, which were as follows: \u2022 Leverage: Net Debt/Adjusted EBITDA to be less than 3.5:1 for the 12 months ended 31 December 2024 (2023: less than 3.5:1). \u2022 Interest cover: Adjusted EBITDA/Interest to be over 4:1 for the 12 months ended 31 December 2024 (2023: over 4:1). The Bonds only have one financial covenant, being the Fixed Charge Coverage Ratio (same as the Interest cover ratio for the RCF), which should equal or be greater than 2:1. If the Group\u2019s results and cash flows are in line with its base case projections as approved by the Board, it would not be in breach of the financial covenants (under both the existing but also amended RCF that will become effective following the Snaitech disposal) for a period of no less than 15 months from approval of these financial statements (the \u201crelevant going concern period\u201d). This period covers the bank reporting requirements for June 2025, December 2025 and June 2026 and is the main reason why the Directors selected a 15-month period of assessment. Under the base case scenario, the Group would not need to utilise its RCF facility over the going concern period. Stress test The stress test assumes a worst-case scenario for the entire Group which includes additional sensitivities around USA and Latin America but with mitigations available (including capital expenditure reductions) if needed. It also assumes a scenario whereby Caliplay does not pay any dividends once the revised arrangements are completed (Playtech will own a 30.8% stake in Caliplay Interactive \u2013 see Note 6), although this is considered extremely remote since (subject to available cash and applicable law) Playtech and all other Caliplay Interactive stockholders will receive dividends, at least quarterly, pursuant to an agreed dividend policy. Under this scenario, the Group would still comfortably meet its covenants. From a liquidity perspective the Group would still not need to utilise the RCF. Reverse stress test The reverse stress test was used to identify the reduction in Adjusted EBITDA required that could result in either a liquidity event or breach of the RCF and bond covenants. As a result of completing this assessment, without considering further mitigating actions, management considered the likelihood of the reverse stress test scenario arising to be remote. In reaching this conclusion, management considered the following: \u2022 current trading is performing above the base case; \u2022 Adjusted EBITDA would have to fall by 67% in the year ending 31 December 2025 and 78% in the 12 months to June 2026, compared to the base case, to cause a breach of covenants; and \u2022 in the event that revenues decline to this point to drive the decrease in Adjusted EBITDA, additional mitigating actions are available to management which have not been factored into the reverse stress test scenario. As such, the Directors have a reasonable expectation that the Group will have adequate financial resources to continue in operational existence over the relevant going concern period and have therefore considered it appropriate to adopt the going concern basis in preparing these financial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-600": { "value": "
Note 3 \u2013 Functional and presentation currency
These consolidated financial statements are presented in Euro, which is the Company\u2019s functional currency. The main functional currencies for subsidiaries
includes Euro, United States Dollar and British Pound. All amounts have been rounded to the nearest million, unless otherwise indicated.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-601": { "value": "
Note 4 \u2013 Accounting standards issued but not yet effective
A number of new standards are effective for annual periods beginning after 1 January 2024 and earlier application is permitted. However, the Group has not
early adopted the following new or amended accounting standards in preparing these consolidated financial statements.
New standards, interpretations and amendments not yet effective
There are a number of standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting
periods that the Group has decided not to adopt early.
The following amendments are effective for the annual reporting period beginning 1 January 2026:
Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7).
The Group is currently assessing the effect of these new amendment.
IFRS 18 Presentation and Disclosure in Financial Statements
IFRS 18 will replace IAS 1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. The new standard
introduces the following key new requirements:
\u2022 Entities are required to classify all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing,
discontinued operations and income tax categories. Entities are also required to present a newly defined operating profit subtotal. Entities\u2019 net profit will
not change.
\u2022 Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements.
\u2022 Enhanced guidance is provided on how to group information in the financial statements.
In addition, all entities are required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows
under the indirect method. The Group is currently assessing the effect of this new standard.
", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-694": { "value": "Note 4 \u2013 Accounting standards issued but not yet effective A number of new standards are effective for annual periods beginning after 1 January 2024 and earlier application is permitted. However, the Group has not early adopted the following new or amended accounting standards in preparing these consolidated financial statements. New standards, interpretations and amendments not yet effective There are a number of standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting periods that the Group has decided not to adopt early. The following amendments are effective for the annual reporting period beginning 1 January 2026: Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7). The Group is currently assessing the effect of these new amendment. IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 will replace IAS 1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. The new standard introduces the following key new requirements: \u2022 Entities are required to classify all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. Entities are also required to present a newly defined operating profit subtotal. Entities\u2019 net profit will not change. \u2022 Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements. \u2022 Enhanced guidance is provided on how to group information in the financial statements. In addition, all entities are required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method. The Group is currently assessing the effect of this new standard.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-651": { "value": "Note 4 \u2013 Accounting standards issued but not yet effective A number of new standards are effective for annual periods beginning after 1 January 2024 and earlier application is permitted. However, the Group has not early adopted the following new or amended accounting standards in preparing these consolidated financial statements. New standards, interpretations and amendments not yet effective There are a number of standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting periods that the Group has decided not to adopt early. The following amendments are effective for the annual reporting period beginning 1 January 2026: Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7). The Group is currently assessing the effect of these new amendment. IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 will replace IAS 1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. The new standard introduces the following key new requirements: \u2022 Entities are required to classify all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. Entities are also required to present a newly defined operating profit subtotal. Entities\u2019 net profit will not change. \u2022 Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements. \u2022 Enhanced guidance is provided on how to group information in the financial statements. In addition, all entities are required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method. The Group is currently assessing the effect of this new standard.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-710": { "value": "New standards, interpretations and amendments not yet effective There are a number of standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting periods that the Group has decided not to adopt early. The following amendments are effective for the annual reporting period beginning 1 January 2026: Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7). The Group is currently assessing the effect of these new amendment. IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 will replace IAS 1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January 2027. The new standard introduces the following key new requirements: \u2022 Entities are required to classify all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. Entities are also required to present a newly defined operating profit subtotal. Entities\u2019 net profit will not change. \u2022 Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements. \u2022 Enhanced guidance is provided on how to group information in the financial statements. In addition, all entities are required to use the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method. The Group is currently assessing the effect of this new standard.", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-597": { "value": "
Note 5 \u2013 Material accounting policies
The Group has consistently applied the following accounting policies to all periods presented in the consolidated financial statements, except if mentioned
otherwise.
A. Basis of consolidation
(i) Business combinations
The Group accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business
and control is transferred to the Group. In determining whether a particular set of activities and assets is a business, the Group assesses whether the set of
assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs.
The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill arising is tested for
impairment at least annually, or more frequently if there are indicators of impairment. Any gain on a bargain purchase is recognised in profit or loss immediately.
Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities.
Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a
financial instrument is classified as equity, then it is not remeasured, and settlement is accounted for within equity. Otherwise, other contingent consideration
is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognised in profit or loss. A
contingent consideration arrangement in which the contingent payments are forfeited if employment is terminated is compensation for the post-combination
services and is not included in the calculation of the consideration and recognised as employee-related costs.
Cash payments arising from settlement of contingent consideration and redemption liability are disclosed in financing activities in the consolidated statement of
cash flows.
When a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to its acquisition-date fair
value and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have
previously been recognised in other comprehensive income are reclassified to the profit or loss, where such treatment would be appropriate if that interest were
disposed of.
(ii) Subsidiaries
Subsidiaries are entities controlled by the Group. Control is achieved when the Group:
\u2022 has the power over the entity;
\u2022 is exposed, or has rights, to variable return from its involvement with the entity; and
\u2022 has the ability to use its power over the entity to affect its returns.
The Group reassesses whether or not it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of
control listed above.
When the Group has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient
to give it the practical ability to direct the relevant activities of the investee unilaterally. The Group considers all relevant facts and circumstances in assessing
whether or not the Company\u2019s voting rights in an investee are sufficient to give it power, including:
\u2022 the size of the Group\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
\u2022 potential voting rights held by the Company, other vote holders or other parties;
\u2022 rights arising from other contractual arrangements; and
\u2022 any additional facts and circumstances that indicate that the Group has, or does not have, the current ability to direct the relevant activities at the time that
decisions need to be made, including voting patterns at previous shareholders\u2019 meetings.
Where the Group holds a currently exercisable call option, the rights arising as a result of the exercise of the call option are included in the assessment above of
whether the Group has control.
The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on
which control ceases.
(iii) Non-controlling interests
NCI are measured initially at their proportionate share of the acquiree\u2019s identifiable net assets at the date of the acquisition.
Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions.
(iv) Investments in associates and equity call options
An associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is
the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.
The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. In the
consolidated financial statements, the Group\u2019s investments in associates are accounted for using the equity method of accounting.
Under the equity method, the investment in an associate or a joint venture is carried in the consolidated balance sheet at cost plus post-acquisition changes in
the Group\u2019s share of the net assets of the associate. The Group\u2019s share of the results of the associate is included in the profit or loss. Losses of the associate or
joint venture in excess of the Group\u2019s cost of the investment are recognised as a liability only when the Group has incurred obligations on behalf of the associate.
On acquisition of the investment, any difference between the cost of the investment and share of the associate\u2019s identifiable assets and liabilities is accounted
for as follows:
\u2022 Any premium paid is capitalised and included in the carrying amount of the associate.
\u2022 Any excess of the share of the net fair value of the associate\u2019s identifiable assets and liabilities over the cost of the investment is included as income in the
determination of the share of the associate\u2019s profit or loss in the period in which the investment is acquired.
Any intangibles identified and included as part of the investment are amortised over their assumed useful economic life. Where there is objective evidence that
the investment in an associate may be impaired, the carrying amount of the investment is tested for impairment in the same way as other non-financial assets.
The aggregate of the Group\u2019s share of profit or loss of an associate is shown on the face of profit or loss outside operating profit and represents profit or loss
before tax. The associated tax charge is disclosed in income tax.
The Group recognises its share of any changes in the equity of the associate through the consolidated statement of changes in equity. Profits and losses
resulting from transactions between the Group and the associate are eliminated to the extent of the Group\u2019s interest in the associate.
The Group applies equity accounting only up to the date an investment in associate meets the criteria for classification as held for sale. From then onwards, the
investment is measured at the lower of its carrying amount and fair value less costs to sell.
When potential voting rights or other derivatives containing potential voting rights exist, the Group\u2019s interest in an associate is determined solely on the basis of
existing ownership interests and does not reflect the possible exercise or conversion of potential voting rights and other derivative instruments unless there is an
existing ownership interest as a result of a transaction that currently gives it access to the returns associated with an ownership interest. In such circumstances,
the proportion allocated to the entity is determined by taking into account the eventual exercise of those potential voting rights and other derivative instruments
that currently give the entity access to the returns. When instruments containing potential voting rights in substance currently give access to the returns
associated with an ownership interest in an associate or a joint venture, the instruments are not subject to IFRS 9 and equity accounting is applied. In all other
cases, instruments containing potential voting rights in an associate or a joint venture are accounted for in accordance with IFRS 9.
A derivative financial asset is measured under fair value per IFRS 9. In the case where there is significant influence over the investment under which Playtech
holds the derivative financial asset, it should be accounted for under IAS 28 Investment in Associate. However, if the option is not currently exercisable and there
is no current access to profits, the option is fair valued without applying equity accounting to the investment in associate.
Derivatives are recorded at fair value and classified as assets when their fair value is positive and as liabilities when their fair value is negative. Subsequently,
derivatives are measured at fair value.
(v) Equity investments held at fair value
All equity investments in scope of IFRS 9 are measured at fair value in the balance sheet. Fair value changes are recognised in profit or loss. Fair value is based
on quoted market prices (Level 1). Where this is not possible, fair value is assessed based on alternative methods (Level 3).
(vi) Transactions eliminated on consolidation
Intra-group balances and transactions are eliminated. Unrealised gains arising from transactions with equity-accounted investees are eliminated against the
investment to the extent of the Group\u2019s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that
there is no evidence of impairment.
B. Foreign currency
(i) Foreign currency transactions
Transactions in foreign currencies are translated into the respective functional currencies of Group companies at the exchange rates at the dates of the
transactions.
Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Non-
monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when fair
value was determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of
the transaction. Foreign currency differences are generally recognised in profit or loss and presented within finance costs.
(ii) Foreign operations
On consolidation, the assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Euro
using the exchange rates at the reporting date and profit or loss items are translated into Euro at the end of each month at the average exchange rate for the
month which approximates the exchange rates at the date of the transactions.
The exchange differences arising on the translation for consolidation are recognised in other comprehensive income (OCI) and accumulated in the foreign
exchange reserve.
When a foreign operation is disposed of in its entirety, or partially such that control, significant influence or joint control is lost, the cumulative amount in the
foreign exchange reserve relating to the foreign operation is reclassified to the profit or loss as part of the gain or loss on disposal.
C. Discontinued operation
A discontinued operation is a component of the Group\u2019s business, the operations and cash flows of which can be clearly distinguished from the rest of the
Group and which:
\u2022 represents a separate major line of business or geographical area of operations;
\u2022 is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations; or
\u2022 is a subsidiary acquired exclusively with a view to resale.
Classification as a discontinued operation occurs at the earlier of disposal or when the operation meets the criteria to be classified as held for sale (refer to Note 5K).
When an operation is classified as a discontinued operation, the comparative statement of profit or loss and OCI is re-presented as if the operation had been
discontinued from the start of the comparative year.
D. Revenue recognition
The majority of the Group\u2019s revenue is derived from selling services with revenue recognised when services have been delivered to the customer. Revenue
comprises the fair value of the consideration received or receivable for the supply of services in the ordinary course of the Group\u2019s activities. Revenue is
recognised when economic benefits are expected to flow to the Group. Specific criteria and performance obligations are described below for each of the
Group\u2019s material revenue streams.
Type of income
Nature, timing of satisfaction of performance obligations and significant payment terms
B2B licensee fee Licensee fee is the standard operator income of the Group which relates to licensed technology and the provision of certain
services provided via various distribution channels (online, mobile or land-based interfaces).
Licensee fee is based on the underlying gaming revenue earned by our licensees calculated using the contractual terms in place.
Revenue is recognised when performance obligation is met which is when the gaming transaction occurs and is net of refunds,
concessions and discounts provided to certain licensees. The payment terms of the B2B licensee fee are on average 30 days from
the invoice date.
B2B fixed-fee income Fixed-fee income is the standard operator income of the Group which includes revenue derived from the provision of certain
services and licensed technology for which charges are based on a fixed fee and/or stepped according to the monthly usage of the
service/technology. The usage measurement is typically reset on a monthly basis.
The performance obligation is met and revenue is recognised once the obligations under the contracts have been met which is
when the services have been provided.
Services provided and fees for:
a. minimum revenue guarantee: the additional revenue recognised by the Group for the difference in the minimum guarantee per
licensee contract and actual performance; and
b. other: hosting, live, set-up, content delivery network and maintenance fees. The fees charged to licensees for these services are
fixed per month.
The amounts for the above are recognised over the life of the contracts and are typically charged on a fixed percentage and
stepped according to the monthly usage of the service depending on the type of service. Set-up fees are recognised over the
whole period of the contract, with an average period of 36 months. The revenue is recognised monthly over the period of the
contract and the payment terms of the B2B fixed fee income are on average 30 days from the invoice date.
B2B cost-based Cost-based revenue is the standard operator income of the Group which is made up of the total revenue charged to the licensee
revenue based on the development costs needed to satisfy the contract with the licensee.
The largest type of service included in cost-based revenue is the dedicated team costs. Dedicated team employees are charged
back to the client based on time spent on each product.
Cost-based revenues are recognised on a monthly basis based on the contract in place between each licensee and Playtech, and
any additional services needed on development are charged to the licensee upon delivery of the service. The payment terms of the
B2B cost-based revenue are on average 30 days from the invoice date.
Type of income
Nature, timing of satisfaction of performance obligations and significant payment terms
B2B revenue received Revenue received from the sale of hardware is the total revenue charged to customers upon the sale of each hardware product.
from the sale of
hardware
The performance obligation is met and revenue is recognised on delivery of the hardware and acceptance by the customer.
Revenue received from future sale of hardware is recognised as deferred revenue. Once the obligation for the future sale is met,
revenue is then recognised in profit or loss. The payment terms of the B2B revenue received from the sale of hardware are on
average 30 days from the invoice date.
Additional B2B This income is calculated based on the profit and/or net revenues generated by the customer in return for the additional services
services fee provided to them by the Group. This is typically charged on a monthly basis and is measured using a predetermined percentage
set in each licensee arrangement. The revenue is only recognised when the customer\u2019s activities go live and the revenue from
the additional B2B services is recognised only once the Group is unconditionally contractually entitled to it. The Directors have
determined that this is when the customer starts generating profits, which is later than when the customer goes live with its B2C
operations. The Directors\u2019 rationale is that there is uncertainty that the Group will collect the consideration to which it is entitled
before the customer starts generating profits and, therefore, the revenue is wholly variable. The payment terms of the additional
B2B services fees are on average 30 days from the invoice date.
B2C revenue In respect of B2C Snaitech revenues, the Group acts as principal with the end customer, with specific revenue policies as follows:
\u2022
The revenues from land-based gaming machines are recognised net of the winnings, jackpots and certain flat-rate gaming tax;
revenues are recognised at the time of the bet.
\u2022
The revenues from online gaming (games of skill/casino/bingo) are recognised net of the winnings, jackpots, bonuses and
certain flat-rate gaming tax at the conclusion of the bet.
\u2022
The revenues related to the acceptance of fixed odds bets are considered financial instruments under IFRS 9 and are
recognised net of certain flat-rate gaming tax, winnings, bonuses and the fair value of open bets at the conclusion of the event.
\u2022
Poker revenues in the form of commission (i.e. rake) are recognised at the conclusion of each poker hand. The performance
obligation is the provision of the poker games to the players.
\u2022
All the revenues from gaming machines are recorded net of players\u2019 winnings and certain gaming taxes while the concession
fees payable to the regulator and the compensation of operators, franchisees and platform providers are accounted as
expenses. Revenue is recognised at the time of the bet.
Where the gaming tax incurred is directly measured by reference to the individual customer transaction and related to the stake
(described as \u201cflat-rate tax\u201d above), this is deducted from revenue.
Where the tax incurred is measured by reference to the Group\u2019s net result from betting and gaming activity, this is not deducted
from revenue and is recognised as an expense.
In respect of Sun Bingo and B2C Sport revenue, the Group acts as principal with the end customer, with revenue being recognised
at the conclusion of the event, net of winnings, jackpots and bonuses.
E. Share-based payments
Certain employees participate in the Group\u2019s share option plans. Following the 2012 LTIP employees are granted cash-settled options and equity-settled
options. The Remuneration Committee has the option to determine if the option will be settled in cash or equity, a decision that is made at grant date. The fair
value of the equity-settled options granted is charged to profit or loss on a straight-line basis over the vesting period and the credit is taken to equity, based on
the Group\u2019s estimate of shares that will eventually vest. Fair value is determined by the Black-Scholes, Monte Carlo or binomial valuation model, as appropriate.
The cash-settled options are presented as a liability. The liability is remeasured at each reporting date and settlement date so that the ultimate liability equals the
cash payment on settlement date. Remeasurements of the fair value of the liability are recognised in profit or loss.
The Group has also granted awards to be distributed from the Group\u2019s Employee Benefit Trust. The fair value of these awards is based on the market price at
the date of the grant; some of the grants have performance conditions. The performance conditions are for the Executive Management and include targets
based on growth in earnings per share and total shareholder return over a specific period compared to other competitors. The fair value of the awards with
market performance conditions is factored into the overall fair value and determined using a Monte Carlo method. Where these options lapse due to not
meeting market performance conditions the share option charge is not reversed.
F. Income tax
The income tax expense represents the sum of the tax currently payable and deferred tax.
(i) Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in profit or loss because it excludes items of
income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current
tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
A provision is recognised for those matters for which the tax determination is uncertain, but it is considered probable that there will be a future outflow of funds
to a tax authority. The provisions are measured at the best estimate of the amount expected to become payable. The assessment is based on the judgement of
tax professionals within the Company supported by previous experience in respect of such activities and in certain cases based on specialist tax advice.
(ii) Deferred tax
The Group adopted the amendments to IAS 12 issued in May 2023, which provide a temporary mandatory exception from the requirement to recognise and
disclose deferred taxes arising from enacted tax law that implements the Pillar Two model rules, including tax law that implements qualified domestic minimum
top-up taxes described in those rules. Under these amendments, any Pillar Two taxes incurred by the Group has been accounted for as current taxes from
1 January 2024.
Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for
financial reporting purposes at the reporting date.
Deferred tax liabilities are recognised for all taxable temporary differences, except:
\u2022 when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at
the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary
differences; and
\u2022 in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the
reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.
Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax
assets are recognised in the period in which the deductible temporary differences arise when there are sufficient taxable temporary differences relating to the
same taxation authority and the same taxable entity which are expected to reverse, or where it is probable that taxable profit will be available against which a
deductible temporary difference can be utilised.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and
the carry forward of unused tax credits and unused tax losses, can be utilised, except:
\u2022 when the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is
not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and does not give rise to equal
taxable and deductible temporary differences; and
\u2022 in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets
are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available
against which the temporary differences can be utilised.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable
profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each reporting date and are
recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based
on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.
Deferred tax relating to items recognised outside the profit or loss is recognised outside profit or loss. Deferred tax items are recognised in correlation to the
underlying transaction either in OCI or directly in equity.
Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date, are recognised subsequently, if new
information about facts and circumstances change. The adjustment is either treated as a reduction in goodwill (as long as it does not exceed goodwill) if it was
recognised during the measurement period or is otherwise recognised in profit or loss. The Group recognises a deferred tax liability for all taxable temporary
differences associated with investments.
The Group offsets deferred tax assets and deferred tax liabilities, if and only if, it has a legally enforceable right to set off current tax assets and current tax
liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable
entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities
simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
The tax base of assets and liabilities is assessed at each reporting date, and changes in the tax base that result from internal reorganisations, changes in the
expected manner of recovery or changes in tax law are reflected in the calculation of deductible and taxable temporary differences.
G. Finance expense
Finance expense arising on interest-bearing financial instruments carried at amortised cost is recognised in the profit or loss using the effective interest rate
method. Finance expense includes the amortisation of fees that are an integral part of the effective finance cost of a financial instrument, including issue costs,
and the amortisation of any other differences between the amount initially recognised and the redemption price. All finance expenses are recognised over the
availability period.
Interest expense arising on the above during the period is disclosed under the financing activities in the consolidated statement of cash flows.
H. Inventories
Inventories are initially recognised at cost, and subsequently at the lower of cost and net realisable value. Cost comprises all costs of purchase, costs of
conversion and other costs incurred in bringing the inventories to their present location and condition. The Group\u2019s inventories consist of hardware that has
been purchased but not sold before the year-end.
I. Property, plant and equipment
(i) Recognition and measurement
Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.
If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of
property, plant and equipment.
Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss.
(ii) Subsequent expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Group.
(iii) Depreciation
Depreciation is calculated to write off the cost of items of property, plant and equipment less their estimated residual values using the straight-line method over
their estimated useful lives and is generally recognised in profit or loss. Land is not depreciated.
The estimated useful lives of property, plant and equipment for current and comparative periods are as follows:
%
Computers and gaming machines
14\u201333
Office furniture and equipment
7\u201333
Freehold and leasehold buildings and improvements 3\u201320, or over the length of the lease
Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.
J. Intangible assets and goodwill
(i) Recognition and measurement
Goodwill
Goodwill represents the excess of the cost of a business combination over the Group\u2019s interest in the fair value of identifiable assets, liabilities and contingent
liabilities acquired. Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued, plus the amount of any non-controlling
interests in the acquiree plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree. Direct costs of
acquisition are recognised immediately as an expense. Goodwill is capitalised as an intangible asset with any impairment in carrying value being charged to
profit or loss. Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is credited in full
to the profit or loss on the acquisition date as a gain on bargain purchase.
Externally acquired intangible assets
Other intangible assets that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortisation and any accumulated
impairment losses.
Business combinations
Intangible assets are recognised on business combinations if they are separable from the acquired entity or arise from other contractual/legal rights. The
amounts ascribed to such intangibles are arrived at by using appropriate valuation techniques.
Internally generated intangible assets (development costs)
Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Group are recognised
as intangible assets where the following criteria are met:
\u2022 it is technically feasible to complete the software so that it will be available for use;
\u2022 management intends to complete the software and use or sell it;
\u2022 there is an ability to use or sell the software;
\u2022 it can be demonstrated how the software will generate probable future economic benefits;
\u2022 adequate technical, financial and other resources to complete the development and to use or sell the software are available; and
\u2022 the expenditure attributable to the software during its development can be reliably measured.
The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first
meets the recognition criteria listed above. Expenditure includes salaries, wages and other employee-related costs directly engaged in generating the assets
and any other expenditure that is directly attributable to generating the assets (i.e. certifications and amortisation of right of use assets). Where no internally
generated intangible asset can be recognised, development expenditure is recognised in profit or loss in the period in which it is incurred.
(ii) Subsequent expenditure
Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other
expenditures, including expenditures on internally generated goodwill and brands, are recognised in the profit or loss as incurred.
(iii) Amortisation
Amortisation is calculated to write off the cost of intangible assets less their estimated residual values using the straight-line method over their estimated useful
lives and is generally recognised in the profit or loss. Goodwill is not amortised.
The estimated useful lives for current and comparative periods are as follows:
%
Domain names
Indefinite
Internally generated capitalised development costs
20\u201333
Technology IP
13\u201333
Customer lists
In line with projected cash flows or 7\u201320
Affiliate contracts
5\u201312.5
Patents and licences 10\u201333 or over the period of the licence
Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.
K. Assets held for sale
Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily
through sale rather than through continuing use.
The criteria for held for sale classification are regarded as met only when the sale is highly probable, and the asset or disposal group is available for immediate
sale in its present condition. Actions required to complete the sale should indicate that it is unlikely that significant changes to the sale will be made or that the
decision to sell will be withdrawn. Management must be committed to the plan to sell the asset and the sale expected to be completed within one year from the
date of the classification.
Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. Any impairment loss on a disposal group
is allocated first to goodwill, and then to the remaining assets on a pro rata basis, except that no loss is allocated to inventories, financial assets or deferred tax
assets, which continue to be measured in accordance with the Group\u2019s other accounting policies. Impairment losses on initial classification as held for sale or
held for distribution and subsequent gains and losses on remeasurement are recognised in the profit or loss.
Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortised or depreciated.
L. Financial instruments
Initial recognition and subsequent measurement
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
(i) Financial assets
Initial recognition and measurement
Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income and fair value
through profit or loss.
The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business
model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied
the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss,
transaction costs.
Subsequent measurement
For purposes of subsequent measurement, financial assets are classified in four categories:
\u2022 financial assets at amortised cost (debt instruments);
\u2022 financial assets at fair value through other comprehensive income with recycling of cumulative gains and losses (debt instruments);
\u2022 financial assets designated at fair value through other comprehensive income with no recycling of cumulative gains and losses upon derecognition (equity
instruments); and
\u2022 financial assets at fair value through profit or loss.
Financial assets at amortised cost (debt instruments)
Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are
recognised in profit or loss when the asset is derecognised, modified or impaired. The Group\u2019s financial assets at amortised cost include trade receivables,
loans receivable and cash and cash equivalents.
At every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information
that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the
Group considers whether there has been a significant increase in credit risk depending on the characteristics of each debt instrument.
Cash and cash equivalents consist of cash at bank and in hand, short-term deposits with an original maturity of less than three months and customer balances.
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in profit or loss. This
category includes listed equity investments which the Group has not irrevocably elected to classify at fair value through OCI.
The Group recognises a debt financial instrument with an embedded conversion option, such as a loan convertible into ordinary shares of an entity,
as a financial asset in the balance sheet. On initial recognition, the convertible loan is measured at fair value with any gain or loss arising on subsequent
measurement until conversion recognised in profit or loss. On conversion of a convertible instrument, the Group derecognises the financial asset component
and recognises it as an investment (equity interest, associate, joint venture or subsidiary) depending on the results of the assessment performed under the
relevant standards.
Derecognition
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e. removed from the
Group\u2019s consolidated balance sheet) when:
\u2022 the rights to receive cash flows from the asset have expired; or
\u2022 the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material
delay to a third party under a \u201cpass-through\u201d arrangement, and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b)
the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.
When the Group has transferred its rights to receive cash flows from an asset, it evaluates if, and to what extent, it has retained the risks and rewards of
ownership. When it has neither: transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group
continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The
transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.
Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and
the maximum amount of consideration that the Group could be required to repay.
Impairment
The Group recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on
the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted
at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit
enhancements that are integral to the contractual terms.
ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are
provided for credit losses that result from default events that are possible within the next 12 months (a 12-month ECL). For those credit exposures for which
there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the
exposure, irrespective of the timing of the default (a lifetime ECL).
For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead
recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit
loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.
(ii) Financial liabilities
Initial recognition and measurement
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or derivatives
designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and
borrowings and payables, net of directly attributable transaction costs. The Group\u2019s financial liabilities include trade and other payables, loans and borrowings
including bank overdrafts, and derivative financial instruments.
Subsequent measurement
For purposes of subsequent measurement, financial liabilities are classified in two categories:
\u2022 financial liabilities at fair value through profit or loss; and
\u2022 financial liabilities at amortised cost (loans and borrowings and bonds).
Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair
value through profit or loss.
Financial liabilities at amortised cost
This is the category most relevant to the Group. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost
using the effective interest rate (EIR) method. Gains and losses are recognised in the profit or loss when the liabilities are derecognised as well as through the
EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part
of the EIR. The EIR amortisation is included as finance costs in profit or loss.
Derecognition
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by
another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is
treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in profit
or loss.
(iii) Offsetting
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the
recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.
M. Share capital
Ordinary shares are classified as equity and are stated at the proceeds received net of direct issue costs.
N. Share buyback
Consideration paid for the share buyback is recognised against the additional paid in capital. Any excess of the consideration paid over the weighted average
price of shares in issue is debited to the retained earnings.
O. Employee Benefit Trust
Consideration paid/received for the purchase/sale of shares subsequently put in the Employee Benefit Trust, which is controlled by the Company, is recognised
directly in equity. The cost of shares held is presented as a separate reserve (the \u201cEmployee Benefit Trust reserve\u201d). Any excess of the consideration received on
the sale of treasury shares over the weighted average cost of the shares sold is credited to retained earnings.
P. Dividends
Dividends are recognised when they become legally due. In the case of interim dividends to equity shareholders, this is when paid by the Company. In the case
of final dividends, this is when they are declared and approved by the shareholders at the AGM.
Q. Impairment of non-financial assets
At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than inventories and deferred tax assets) to determine
whether there is any indication of impairment. If any such indication exists, then the asset\u2019s recoverable amount is estimated. For goodwill in particular, the Group
is required to test annually and also when impairment indicators arise, whether goodwill and indefinite life assets have suffered any impairment.
For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely
independent of the cash inflows of other assets or CGUs. Goodwill arising from a business combination is allocated to CGUs that are expected to benefit from
the synergies of the combination.
The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs of disposal. Value in use is based on the estimated future
cash flows, discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks
specific to the asset or CGU.
An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its recoverable amount.
Impairment losses are recognised in the profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to
reduce the carrying amounts of the other assets in the CGU on a pro rata basis.
An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset\u2019s carrying amount
does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.
R. Provisions
Provisions for legal claims are recognised when the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow
of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations
as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be minimum.
Provisions are measured at the present value of management\u2019s best estimate of the expenditure required to settle the present obligation at the end of the
reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money
and the risks specific to the liability.
S. Leases
At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to
control the use of an identified asset for a period of time in exchange for consideration.
Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognises lease liabilities to make lease payments and right of use assets representing the right to use the underlying assets. (i) Right of use assets The Group recognises right of use assets at the commencement date of the lease (i.e. the date the underlying asset is available for use). Right of use assets are measured at cost, less any accumulated amortisation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right of use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right of use assets are amortised on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. (ii) Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g. changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right of use asset or is recorded in the profit or loss if the carrying amount of the right of use asset has been reduced to zero. The cash payments made in relation to long-term leases are split between principal and interest paid on lease liability and disclosed within financing activities in the consolidated statement of cash flows. (iii) Short-term leases and leases of low-value assets The Group applies the short-term lease recognition exemption to its short-term leases (i.e. those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as an expense on a straight-line basis over the lease term and included within financing activities in the consolidated statement of cash flows. T. Fair value measurement \u201cFair value\u201d is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability; or (b) in the absence of a principal market, in the most advantageous market for the asset or liability. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2022 Level 1 \u2013 quoted (unadjusted) market prices in active markets for identical assets or liabilities. \u2022 Level 2 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. \u2022 Level 3 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable . U. Adjusted performance measures (APMs) In the reporting of financial information, the Directors use various APMs. The Directors use the APMs to understand, manage and evaluate the business and make operating decisions. These APMs are among the primary factors management uses in planning for and forecasting future periods. As these are non-GAAP measures, they should not be considered as replacements for IFRS measures. The Group\u2019s definition of these non-GAAP measures may not be comparable to other similarly titled measures reported by other companies. The following are the definitions and purposes of the APMs used:
Closest equivalent Reconciling items to
APM IFRS measure
statutory measure
Definition and purpose
Adjusted EBITDA Operating profit and
Note 10
Adjusted results exclude the following items:
and Adjusted Profit before tax
\u2022
Material non-cash items: these items are excluded to better analyse the underlying
Profit cash transactions of the business as management regularly monitors the operating
cash conversion to Adjusted EBITDA.
\u2022
Material one-off items: these items are excluded to get normalised results that
are not distorted by unusual or infrequent items. Unusual items include highly
abnormal, one-off and only incidentally relating to the ordinary activities of the
Group. Infrequent items are those which are not reasonably expected to recur in the
foreseeable future given the environment in which the Group operates.
\u2022
Investment/acquisition-related items: these items are excluded as they are not
related to the ordinary activities of the business and therefore are not considered to
be ongoing costs of the operations of the business.
These APMs provide a consistent measure of the performance of the Group from
period to period by removing items that are considered to be either non-cash, one-off
or investment/acquisition related items. This is a key management incentive metric.
Adjusted gross Cash and cash Chief Financial Adjusted gross cash and cash equivalents is defined as the cash and cash equivalents
cash and cash equivalents Officer\u2019s statement after deducting the cash balances held on behalf of operators in respect of operators\u2019
equivalents jackpot games and poker and casino operations as well as client funds with respect to
B2C.
Net debt
None
Chief Financial
Net debt is defined as the Adjusted gross cash and cash equivalents after deducting
Officer\u2019s statement loans and borrowings and bonds. Used to show level of net debt in the Group and
movement from period to period.
Adjusted net Net cash provided by Chief Financial Net cash provided by operating activities after adjusting for jackpots and client funds,
cash provided operating activities Officer\u2019s statement professional fees and ADM (Italian regulator) security deposit. Adjusting for the
by operating above cash fluctuations is essential in order to truly reflect the quality of revenue and
activities cash collection. This is because the timing of cash inflows and outflows for jackpots,
security deposits and client funds only impact the reported operating cash flow and
not Adjusted EBITDA, while professional fees are excluded from Adjusted EBITDA but
impact operating cash flow.
Cash conversion
None
Chief Financial
Cash conversion is defined as cash generated from operations as a percentage of
Officer\u2019s statement Adjusted EBITDA.
Adjusted cash
None
Chief Financial
Adjusted cash conversion is defined as Adjusted net cash provided by operating
conversion Officer\u2019s statement activities as a percentage of Adjusted EBITDA.
Adjusted EPS
EPS
Note 14
The calculation of Adjusted EPS is based on the Adjusted Profit and weighted average
number of ordinary shares outstanding.
Adjusted diluted
Diluted EPS
Note 14
The calculation of Adjusted diluted EPS is based on the Adjusted Profit and weighted
EPS average number of ordinary shares outstanding after adjusting for the effects of all
dilutive potential ordinary shares.
Adjusted tax
Tax expense
Note 10
Adjusted tax is defined as the tax charge for the period after deducting tax charges
related to uncertain tax positions relating to prior years, deferred tax on acquisition
and the write down of deferred tax assets in respect of tax losses arising in prior years.
As these items either do not relate to the current year or are adjusted in arriving at the
Adjusted Profit, they distort the effective tax rate for the period.
V. Onerous contracts Present obligations arising under onerous contracts are recognised and measured as provisions. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-602": { "value": "A. Basis of consolidation (i) Business combinations The Group accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Group. In determining whether a particular set of activities and assets is a business, the Group assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill arising is tested for impairment at least annually, or more frequently if there are indicators of impairment. Any gain on a bargain purchase is recognised in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured, and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognised in profit or loss. A contingent consideration arrangement in which the contingent payments are forfeited if employment is terminated is compensation for the post-combination services and is not included in the calculation of the consideration and recognised as employee-related costs. Cash payments arising from settlement of contingent consideration and redemption liability are disclosed in financing activities in the consolidated statement of cash flows. When a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to the profit or loss, where such treatment would be appropriate if that interest were disposed of. (ii) Subsidiaries Subsidiaries are entities controlled by the Group. Control is achieved when the Group: \u2022 has the power over the entity; \u2022 is exposed, or has rights, to variable return from its involvement with the entity; and \u2022 has the ability to use its power over the entity to affect its returns. The Group reassesses whether or not it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Group has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Group considers all relevant facts and circumstances in assessing whether or not the Company\u2019s voting rights in an investee are sufficient to give it power, including: \u2022 the size of the Group\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders; \u2022 potential voting rights held by the Company, other vote holders or other parties; \u2022 rights arising from other contractual arrangements; and \u2022 any additional facts and circumstances that indicate that the Group has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders\u2019 meetings. Where the Group holds a currently exercisable call option, the rights arising as a result of the exercise of the call option are included in the assessment above of whether the Group has control. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. (iii) Non-controlling interests NCI are measured initially at their proportionate share of the acquiree\u2019s identifiable net assets at the date of the acquisition. Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. (iv) Investments in associates and equity call options An associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. In the consolidated financial statements, the Group\u2019s investments in associates are accounted for using the equity method of accounting. Under the equity method, the investment in an associate or a joint venture is carried in the consolidated balance sheet at cost plus post-acquisition changes in the Group\u2019s share of the net assets of the associate. The Group\u2019s share of the results of the associate is included in the profit or loss. Losses of the associate or joint venture in excess of the Group\u2019s cost of the investment are recognised as a liability only when the Group has incurred obligations on behalf of the associate. On acquisition of the investment, any difference between the cost of the investment and share of the associate\u2019s identifiable assets and liabilities is accounted for as follows: \u2022 Any premium paid is capitalised and included in the carrying amount of the associate. \u2022 Any excess of the share of the net fair value of the associate\u2019s identifiable assets and liabilities over the cost of the investment is included as income in the determination of the share of the associate\u2019s profit or loss in the period in which the investment is acquired. Any intangibles identified and included as part of the investment are amortised over their assumed useful economic life. Where there is objective evidence that the investment in an associate may be impaired, the carrying amount of the investment is tested for impairment in the same way as other non-financial assets. The aggregate of the Group\u2019s share of profit or loss of an associate is shown on the face of profit or loss outside operating profit and represents profit or loss before tax. The associated tax charge is disclosed in income tax. The Group recognises its share of any changes in the equity of the associate through the consolidated statement of changes in equity. Profits and losses resulting from transactions between the Group and the associate are eliminated to the extent of the Group\u2019s interest in the associate. The Group applies equity accounting only up to the date an investment in associate meets the criteria for classification as held for sale. From then onwards, the investment is measured at the lower of its carrying amount and fair value less costs to sell. When potential voting rights or other derivatives containing potential voting rights exist, the Group\u2019s interest in an associate is determined solely on the basis of existing ownership interests and does not reflect the possible exercise or conversion of potential voting rights and other derivative instruments unless there is an existing ownership interest as a result of a transaction that currently gives it access to the returns associated with an ownership interest. In such circumstances, the proportion allocated to the entity is determined by taking into account the eventual exercise of those potential voting rights and other derivative instruments that currently give the entity access to the returns. When instruments containing potential voting rights in substance currently give access to the returns associated with an ownership interest in an associate or a joint venture, the instruments are not subject to IFRS 9 and equity accounting is applied. In all other cases, instruments containing potential voting rights in an associate or a joint venture are accounted for in accordance with IFRS 9. A derivative financial asset is measured under fair value per IFRS 9. In the case where there is significant influence over the investment under which Playtech holds the derivative financial asset, it should be accounted for under IAS 28 Investment in Associate. However, if the option is not currently exercisable and there is no current access to profits, the option is fair valued without applying equity accounting to the investment in associate. Derivatives are recorded at fair value and classified as assets when their fair value is positive and as liabilities when their fair value is negative. Subsequently, derivatives are measured at fair value. (v) Equity investments held at fair value All equity investments in scope of IFRS 9 are measured at fair value in the balance sheet. Fair value changes are recognised in profit or loss. Fair value is based on quoted market prices (Level 1). Where this is not possible, fair value is assessed based on alternative methods (Level 3). (vi) Transactions eliminated on consolidation Intra-group balances and transactions are eliminated. Unrealised gains arising from transactions with equity-accounted investees are eliminated against the investment to the extent of the Group\u2019s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence of impairment. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-718": { "value": "(i) Business combinations The Group accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Group. In determining whether a particular set of activities and assets is a business, the Group assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill arising is tested for impairment at least annually, or more frequently if there are indicators of impairment. Any gain on a bargain purchase is recognised in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured, and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognised in profit or loss. A contingent consideration arrangement in which the contingent payments are forfeited if employment is terminated is compensation for the post-combination services and is not included in the calculation of the consideration and recognised as employee-related costs. Cash payments arising from settlement of contingent consideration and redemption liability are disclosed in financing activities in the consolidated statement of cash flows. When a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to the profit or loss, where such treatment would be appropriate if that interest were disposed of. Goodwill Goodwill represents the excess of the cost of a business combination over the Group\u2019s interest in the fair value of identifiable assets, liabilities and contingent liabilities acquired. Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued, plus the amount of any non-controlling interests in the acquiree plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree. Direct costs of acquisition are recognised immediately as an expense. Goodwill is capitalised as an intangible asset with any impairment in carrying value being charged to profit or loss. Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is credited in full to the profit or loss on the acquisition date as a gain on bargain purchase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-654": { "value": "(i) Business combinations The Group accounts for business combinations using the acquisition method when the acquired set of activities and assets meets the definition of a business and control is transferred to the Group. In determining whether a particular set of activities and assets is a business, the Group assesses whether the set of assets and activities acquired includes, at a minimum, an input and substantive process and whether the acquired set has the ability to produce outputs. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Any goodwill arising is tested for impairment at least annually, or more frequently if there are indicators of impairment. Any gain on a bargain purchase is recognised in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured, and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognised in profit or loss. A contingent consideration arrangement in which the contingent payments are forfeited if employment is terminated is compensation for the post-combination services and is not included in the calculation of the consideration and recognised as employee-related costs. Cash payments arising from settlement of contingent consideration and redemption liability are disclosed in financing activities in the consolidated statement of cash flows. When a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to the profit or loss, where such treatment would be appropriate if that interest were disposed of. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-652": { "value": "(ii) Subsidiaries Subsidiaries are entities controlled by the Group. Control is achieved when the Group: \u2022 has the power over the entity; \u2022 is exposed, or has rights, to variable return from its involvement with the entity; and \u2022 has the ability to use its power over the entity to affect its returns. The Group reassesses whether or not it controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Group has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Group considers all relevant facts and circumstances in assessing whether or not the Company\u2019s voting rights in an investee are sufficient to give it power, including: \u2022 the size of the Group\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders; \u2022 potential voting rights held by the Company, other vote holders or other parties; \u2022 rights arising from other contractual arrangements; and \u2022 any additional facts and circumstances that indicate that the Group has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders\u2019 meetings. Where the Group holds a currently exercisable call option, the rights arising as a result of the exercise of the call option are included in the assessment above of whether the Group has control. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-653": { "value": "(iii) Non-controlling interests NCI are measured initially at their proportionate share of the acquiree\u2019s identifiable net assets at the date of the acquisition. Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-695": { "value": "(iv) Investments in associates and equity call options An associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. In the consolidated financial statements, the Group\u2019s investments in associates are accounted for using the equity method of accounting. Under the equity method, the investment in an associate or a joint venture is carried in the consolidated balance sheet at cost plus post-acquisition changes in the Group\u2019s share of the net assets of the associate. The Group\u2019s share of the results of the associate is included in the profit or loss. Losses of the associate or joint venture in excess of the Group\u2019s cost of the investment are recognised as a liability only when the Group has incurred obligations on behalf of the associate. On acquisition of the investment, any difference between the cost of the investment and share of the associate\u2019s identifiable assets and liabilities is accounted for as follows: \u2022 Any premium paid is capitalised and included in the carrying amount of the associate. \u2022 Any excess of the share of the net fair value of the associate\u2019s identifiable assets and liabilities over the cost of the investment is included as income in the determination of the share of the associate\u2019s profit or loss in the period in which the investment is acquired. Any intangibles identified and included as part of the investment are amortised over their assumed useful economic life. Where there is objective evidence that the investment in an associate may be impaired, the carrying amount of the investment is tested for impairment in the same way as other non-financial assets. The aggregate of the Group\u2019s share of profit or loss of an associate is shown on the face of profit or loss outside operating profit and represents profit or loss before tax. The associated tax charge is disclosed in income tax. The Group recognises its share of any changes in the equity of the associate through the consolidated statement of changes in equity. Profits and losses resulting from transactions between the Group and the associate are eliminated to the extent of the Group\u2019s interest in the associate. The Group applies equity accounting only up to the date an investment in associate meets the criteria for classification as held for sale. From then onwards, the investment is measured at the lower of its carrying amount and fair value less costs to sell. When potential voting rights or other derivatives containing potential voting rights exist, the Group\u2019s interest in an associate is determined solely on the basis of existing ownership interests and does not reflect the possible exercise or conversion of potential voting rights and other derivative instruments unless there is an existing ownership interest as a result of a transaction that currently gives it access to the returns associated with an ownership interest. In such circumstances, the proportion allocated to the entity is determined by taking into account the eventual exercise of those potential voting rights and other derivative instruments that currently give the entity access to the returns. When instruments containing potential voting rights in substance currently give access to the returns associated with an ownership interest in an associate or a joint venture, the instruments are not subject to IFRS 9 and equity accounting is applied. In all other cases, instruments containing potential voting rights in an associate or a joint venture are accounted for in accordance with IFRS 9. A derivative financial asset is measured under fair value per IFRS 9. In the case where there is significant influence over the investment under which Playtech holds the derivative financial asset, it should be accounted for under IAS 28 Investment in Associate. However, if the option is not currently exercisable and there is no current access to profits, the option is fair valued without applying equity accounting to the investment in associate. Derivatives are recorded at fair value and classified as assets when their fair value is positive and as liabilities when their fair value is negative. Subsequently, derivatives are measured at fair value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-655": { "value": "(iv) Investments in associates and equity call options An associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. In the consolidated financial statements, the Group\u2019s investments in associates are accounted for using the equity method of accounting. Under the equity method, the investment in an associate or a joint venture is carried in the consolidated balance sheet at cost plus post-acquisition changes in the Group\u2019s share of the net assets of the associate. The Group\u2019s share of the results of the associate is included in the profit or loss. Losses of the associate or joint venture in excess of the Group\u2019s cost of the investment are recognised as a liability only when the Group has incurred obligations on behalf of the associate. On acquisition of the investment, any difference between the cost of the investment and share of the associate\u2019s identifiable assets and liabilities is accounted for as follows: \u2022 Any premium paid is capitalised and included in the carrying amount of the associate. \u2022 Any excess of the share of the net fair value of the associate\u2019s identifiable assets and liabilities over the cost of the investment is included as income in the determination of the share of the associate\u2019s profit or loss in the period in which the investment is acquired. Any intangibles identified and included as part of the investment are amortised over their assumed useful economic life. Where there is objective evidence that the investment in an associate may be impaired, the carrying amount of the investment is tested for impairment in the same way as other non-financial assets. The aggregate of the Group\u2019s share of profit or loss of an associate is shown on the face of profit or loss outside operating profit and represents profit or loss before tax. The associated tax charge is disclosed in income tax. The Group recognises its share of any changes in the equity of the associate through the consolidated statement of changes in equity. Profits and losses resulting from transactions between the Group and the associate are eliminated to the extent of the Group\u2019s interest in the associate. The Group applies equity accounting only up to the date an investment in associate meets the criteria for classification as held for sale. From then onwards, the investment is measured at the lower of its carrying amount and fair value less costs to sell. When potential voting rights or other derivatives containing potential voting rights exist, the Group\u2019s interest in an associate is determined solely on the basis of existing ownership interests and does not reflect the possible exercise or conversion of potential voting rights and other derivative instruments unless there is an existing ownership interest as a result of a transaction that currently gives it access to the returns associated with an ownership interest. In such circumstances, the proportion allocated to the entity is determined by taking into account the eventual exercise of those potential voting rights and other derivative instruments that currently give the entity access to the returns. When instruments containing potential voting rights in substance currently give access to the returns associated with an ownership interest in an associate or a joint venture, the instruments are not subject to IFRS 9 and equity accounting is applied. In all other cases, instruments containing potential voting rights in an associate or a joint venture are accounted for in accordance with IFRS 9. A derivative financial asset is measured under fair value per IFRS 9. In the case where there is significant influence over the investment under which Playtech holds the derivative financial asset, it should be accounted for under IAS 28 Investment in Associate. However, if the option is not currently exercisable and there is no current access to profits, the option is fair valued without applying equity accounting to the investment in associate. Derivatives are recorded at fair value and classified as assets when their fair value is positive and as liabilities when their fair value is negative. Subsequently, derivatives are measured at fair value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-603": { "value": "B. Foreign currency (i) Foreign currency transactions Transactions in foreign currencies are translated into the respective functional currencies of Group companies at the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Non- monetary assets and liabilities that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when fair value was determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. Foreign currency differences are generally recognised in profit or loss and presented within finance costs. (ii) Foreign operations On consolidation, the assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Euro using the exchange rates at the reporting date and profit or loss items are translated into Euro at the end of each month at the average exchange rate for the month which approximates the exchange rates at the date of the transactions. The exchange differences arising on the translation for consolidation are recognised in other comprehensive income (OCI) and accumulated in the foreign exchange reserve. When a foreign operation is disposed of in its entirety, or partially such that control, significant influence or joint control is lost, the cumulative amount in the foreign exchange reserve relating to the foreign operation is reclassified to the profit or loss as part of the gain or loss on disposal. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-605": { "value": "C. Discontinued operation A discontinued operation is a component of the Group\u2019s business, the operations and cash flows of which can be clearly distinguished from the rest of the Group and which: \u2022 represents a separate major line of business or geographical area of operations; \u2022 is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations; or \u2022 is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs at the earlier of disposal or when the operation meets the criteria to be classified as held for sale (refer to Note 5K). When an operation is classified as a discontinued operation, the comparative statement of profit or loss and OCI is re-presented as if the operation had been discontinued from the start of the comparative year. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-656": { "value": "C. Discontinued operation A discontinued operation is a component of the Group\u2019s business, the operations and cash flows of which can be clearly distinguished from the rest of the Group and which: \u2022 represents a separate major line of business or geographical area of operations; \u2022 is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations; or \u2022 is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs at the earlier of disposal or when the operation meets the criteria to be classified as held for sale (refer to Note 5K). When an operation is classified as a discontinued operation, the comparative statement of profit or loss and OCI is re-presented as if the operation had been discontinued from the start of the comparative year. K. Assets held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. The criteria for held for sale classification are regarded as met only when the sale is highly probable, and the asset or disposal group is available for immediate sale in its present condition. Actions required to complete the sale should indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management must be committed to the plan to sell the asset and the sale expected to be completed within one year from the date of the classification. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. Any impairment loss on a disposal group is allocated first to goodwill, and then to the remaining assets on a pro rata basis, except that no loss is allocated to inventories, financial assets or deferred tax assets, which continue to be measured in accordance with the Group\u2019s other accounting policies. Impairment losses on initial classification as held for sale or held for distribution and subsequent gains and losses on remeasurement are recognised in the profit or loss. Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortised or depreciated. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-604": { "value": "D. Revenue recognition The majority of the Group\u2019s revenue is derived from selling services with revenue recognised when services have been delivered to the customer. Revenue comprises the fair value of the consideration received or receivable for the supply of services in the ordinary course of the Group\u2019s activities. Revenue is recognised when economic benefits are expected to flow to the Group. Specific criteria and performance obligations are described below for each of the Group\u2019s material revenue streams.
Type of income
Nature, timing of satisfaction of performance obligations and significant payment terms
B2B licensee fee Licensee fee is the standard operator income of the Group which relates to licensed technology and the provision of certain
services provided via various distribution channels (online, mobile or land-based interfaces).
Licensee fee is based on the underlying gaming revenue earned by our licensees calculated using the contractual terms in place.
Revenue is recognised when performance obligation is met which is when the gaming transaction occurs and is net of refunds,
concessions and discounts provided to certain licensees. The payment terms of the B2B licensee fee are on average 30 days from
the invoice date.
B2B fixed-fee income Fixed-fee income is the standard operator income of the Group which includes revenue derived from the provision of certain
services and licensed technology for which charges are based on a fixed fee and/or stepped according to the monthly usage of the
service/technology. The usage measurement is typically reset on a monthly basis.
The performance obligation is met and revenue is recognised once the obligations under the contracts have been met which is
when the services have been provided.
Services provided and fees for:
a. minimum revenue guarantee: the additional revenue recognised by the Group for the difference in the minimum guarantee per
licensee contract and actual performance; and
b. other: hosting, live, set-up, content delivery network and maintenance fees. The fees charged to licensees for these services are
fixed per month.
The amounts for the above are recognised over the life of the contracts and are typically charged on a fixed percentage and
stepped according to the monthly usage of the service depending on the type of service. Set-up fees are recognised over the
whole period of the contract, with an average period of 36 months. The revenue is recognised monthly over the period of the
contract and the payment terms of the B2B fixed fee income are on average 30 days from the invoice date.
B2B cost-based Cost-based revenue is the standard operator income of the Group which is made up of the total revenue charged to the licensee
revenue based on the development costs needed to satisfy the contract with the licensee.
The largest type of service included in cost-based revenue is the dedicated team costs. Dedicated team employees are charged
back to the client based on time spent on each product.
Cost-based revenues are recognised on a monthly basis based on the contract in place between each licensee and Playtech, and
any additional services needed on development are charged to the licensee upon delivery of the service. The payment terms of the
B2B cost-based revenue are on average 30 days from the invoice date.
Type of income
Nature, timing of satisfaction of performance obligations and significant payment terms
B2B revenue received Revenue received from the sale of hardware is the total revenue charged to customers upon the sale of each hardware product.
from the sale of
hardware
The performance obligation is met and revenue is recognised on delivery of the hardware and acceptance by the customer.
Revenue received from future sale of hardware is recognised as deferred revenue. Once the obligation for the future sale is met,
revenue is then recognised in profit or loss. The payment terms of the B2B revenue received from the sale of hardware are on
average 30 days from the invoice date.
Additional B2B This income is calculated based on the profit and/or net revenues generated by the customer in return for the additional services
services fee provided to them by the Group. This is typically charged on a monthly basis and is measured using a predetermined percentage
set in each licensee arrangement. The revenue is only recognised when the customer\u2019s activities go live and the revenue from
the additional B2B services is recognised only once the Group is unconditionally contractually entitled to it. The Directors have
determined that this is when the customer starts generating profits, which is later than when the customer goes live with its B2C
operations. The Directors\u2019 rationale is that there is uncertainty that the Group will collect the consideration to which it is entitled
before the customer starts generating profits and, therefore, the revenue is wholly variable. The payment terms of the additional
B2B services fees are on average 30 days from the invoice date.
B2C revenue In respect of B2C Snaitech revenues, the Group acts as principal with the end customer, with specific revenue policies as follows:
\u2022
The revenues from land-based gaming machines are recognised net of the winnings, jackpots and certain flat-rate gaming tax;
revenues are recognised at the time of the bet.
\u2022
The revenues from online gaming (games of skill/casino/bingo) are recognised net of the winnings, jackpots, bonuses and
certain flat-rate gaming tax at the conclusion of the bet.
\u2022
The revenues related to the acceptance of fixed odds bets are considered financial instruments under IFRS 9 and are
recognised net of certain flat-rate gaming tax, winnings, bonuses and the fair value of open bets at the conclusion of the event.
\u2022
Poker revenues in the form of commission (i.e. rake) are recognised at the conclusion of each poker hand. The performance
obligation is the provision of the poker games to the players.
\u2022
All the revenues from gaming machines are recorded net of players\u2019 winnings and certain gaming taxes while the concession
fees payable to the regulator and the compensation of operators, franchisees and platform providers are accounted as
expenses. Revenue is recognised at the time of the bet.
Where the gaming tax incurred is directly measured by reference to the individual customer transaction and related to the stake
(described as \u201cflat-rate tax\u201d above), this is deducted from revenue.
Where the tax incurred is measured by reference to the Group\u2019s net result from betting and gaming activity, this is not deducted
from revenue and is recognised as an expense.
In respect of Sun Bingo and B2C Sport revenue, the Group acts as principal with the end customer, with revenue being recognised
at the conclusion of the event, net of winnings, jackpots and bonuses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-606": { "value": "E. Share-based payments Certain employees participate in the Group\u2019s share option plans. Following the 2012 LTIP employees are granted cash-settled options and equity-settled options. The Remuneration Committee has the option to determine if the option will be settled in cash or equity, a decision that is made at grant date. The fair value of the equity-settled options granted is charged to profit or loss on a straight-line basis over the vesting period and the credit is taken to equity, based on the Group\u2019s estimate of shares that will eventually vest. Fair value is determined by the Black-Scholes, Monte Carlo or binomial valuation model, as appropriate. The cash-settled options are presented as a liability. The liability is remeasured at each reporting date and settlement date so that the ultimate liability equals the cash payment on settlement date. Remeasurements of the fair value of the liability are recognised in profit or loss. The Group has also granted awards to be distributed from the Group\u2019s Employee Benefit Trust. The fair value of these awards is based on the market price at the date of the grant; some of the grants have performance conditions. The performance conditions are for the Executive Management and include targets based on growth in earnings per share and total shareholder return over a specific period compared to other competitors. The fair value of the awards with market performance conditions is factored into the overall fair value and determined using a Monte Carlo method. Where these options lapse due to not meeting market performance conditions the share option charge is not reversed. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-607": { "value": "F. Income tax The income tax expense represents the sum of the tax currently payable and deferred tax. (i) Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in profit or loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. A provision is recognised for those matters for which the tax determination is uncertain, but it is considered probable that there will be a future outflow of funds to a tax authority. The provisions are measured at the best estimate of the amount expected to become payable. The assessment is based on the judgement of tax professionals within the Company supported by previous experience in respect of such activities and in certain cases based on specialist tax advice. (ii) Deferred tax The Group adopted the amendments to IAS 12 issued in May 2023, which provide a temporary mandatory exception from the requirement to recognise and disclose deferred taxes arising from enacted tax law that implements the Pillar Two model rules, including tax law that implements qualified domestic minimum top-up taxes described in those rules. Under these amendments, any Pillar Two taxes incurred by the Group has been accounted for as current taxes from 1 January 2024. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognised for all taxable temporary differences, except: \u2022 when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary differences; and \u2022 in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised in the period in which the deductible temporary differences arise when there are sufficient taxable temporary differences relating to the same taxation authority and the same taxable entity which are expected to reverse, or where it is probable that taxable profit will be available against which a deductible temporary difference can be utilised. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses, can be utilised, except: \u2022 when the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary differences; and \u2022 in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside the profit or loss is recognised outside profit or loss. Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date, are recognised subsequently, if new information about facts and circumstances change. The adjustment is either treated as a reduction in goodwill (as long as it does not exceed goodwill) if it was recognised during the measurement period or is otherwise recognised in profit or loss. The Group recognises a deferred tax liability for all taxable temporary differences associated with investments. The Group offsets deferred tax assets and deferred tax liabilities, if and only if, it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. The tax base of assets and liabilities is assessed at each reporting date, and changes in the tax base that result from internal reorganisations, changes in the expected manner of recovery or changes in tax law are reflected in the calculation of deductible and taxable temporary differences. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-657": { "value": "(ii) Deferred tax The Group adopted the amendments to IAS 12 issued in May 2023, which provide a temporary mandatory exception from the requirement to recognise and disclose deferred taxes arising from enacted tax law that implements the Pillar Two model rules, including tax law that implements qualified domestic minimum top-up taxes described in those rules. Under these amendments, any Pillar Two taxes incurred by the Group has been accounted for as current taxes from 1 January 2024. Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognised for all taxable temporary differences, except: \u2022 when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary differences; and \u2022 in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised in the period in which the deductible temporary differences arise when there are sufficient taxable temporary differences relating to the same taxation authority and the same taxable entity which are expected to reverse, or where it is probable that taxable profit will be available against which a deductible temporary difference can be utilised. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses, can be utilised, except: \u2022 when the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary differences; and \u2022 in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside the profit or loss is recognised outside profit or loss. Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date, are recognised subsequently, if new information about facts and circumstances change. The adjustment is either treated as a reduction in goodwill (as long as it does not exceed goodwill) if it was recognised during the measurement period or is otherwise recognised in profit or loss. The Group recognises a deferred tax liability for all taxable temporary differences associated with investments. The Group offsets deferred tax assets and deferred tax liabilities, if and only if, it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. The tax base of assets and liabilities is assessed at each reporting date, and changes in the tax base that result from internal reorganisations, changes in the expected manner of recovery or changes in tax law are reflected in the calculation of deductible and taxable temporary differences. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-696": { "value": "G. Finance expense Finance expense arising on interest-bearing financial instruments carried at amortised cost is recognised in the profit or loss using the effective interest rate method. Finance expense includes the amortisation of fees that are an integral part of the effective finance cost of a financial instrument, including issue costs, and the amortisation of any other differences between the amount initially recognised and the redemption price. All finance expenses are recognised over the availability period. Interest expense arising on the above during the period is disclosed under the financing activities in the consolidated statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-658": { "value": "G. Finance expense Finance expense arising on interest-bearing financial instruments carried at amortised cost is recognised in the profit or loss using the effective interest rate method. Finance expense includes the amortisation of fees that are an integral part of the effective finance cost of a financial instrument, including issue costs, and the amortisation of any other differences between the amount initially recognised and the redemption price. All finance expenses are recognised over the availability period. Interest expense arising on the above during the period is disclosed under the financing activities in the consolidated statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-608": { "value": "G. Finance expense Finance expense arising on interest-bearing financial instruments carried at amortised cost is recognised in the profit or loss using the effective interest rate method. Finance expense includes the amortisation of fees that are an integral part of the effective finance cost of a financial instrument, including issue costs, and the amortisation of any other differences between the amount initially recognised and the redemption price. All finance expenses are recognised over the availability period. Interest expense arising on the above during the period is disclosed under the financing activities in the consolidated statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-609": { "value": "H. Inventories Inventories are initially recognised at cost, and subsequently at the lower of cost and net realisable value. Cost comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. The Group\u2019s inventories consist of hardware that has been purchased but not sold before the year-end. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-610": { "value": "I. Property, plant and equipment (i) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss. (ii) Subsequent expenditure Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Group. (iii) Depreciation Depreciation is calculated to write off the cost of items of property, plant and equipment less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognised in profit or loss. Land is not depreciated. The estimated useful lives of property, plant and equipment for current and comparative periods are as follows:
%
Computers and gaming machines
14\u201333
Office furniture and equipment
7\u201333
Freehold and leasehold buildings and improvements 3\u201320, or over the length of the lease
Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-659": { "value": "(iii) Depreciation Depreciation is calculated to write off the cost of items of property, plant and equipment less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognised in profit or loss. Land is not depreciated. The estimated useful lives of property, plant and equipment for current and comparative periods are as follows:
%
Computers and gaming machines
14\u201333
Office furniture and equipment
7\u201333
Freehold and leasehold buildings and improvements 3\u201320, or over the length of the lease
Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-611": { "value": "J. Intangible assets and goodwill (i) Recognition and measurement Goodwill Goodwill represents the excess of the cost of a business combination over the Group\u2019s interest in the fair value of identifiable assets, liabilities and contingent liabilities acquired. Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued, plus the amount of any non-controlling interests in the acquiree plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree. Direct costs of acquisition are recognised immediately as an expense. Goodwill is capitalised as an intangible asset with any impairment in carrying value being charged to profit or loss. Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is credited in full to the profit or loss on the acquisition date as a gain on bargain purchase. Externally acquired intangible assets Other intangible assets that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortisation and any accumulated impairment losses. Business combinations Intangible assets are recognised on business combinations if they are separable from the acquired entity or arise from other contractual/legal rights. The amounts ascribed to such intangibles are arrived at by using appropriate valuation techniques. Internally generated intangible assets (development costs) Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Group are recognised as intangible assets where the following criteria are met: \u2022 it is technically feasible to complete the software so that it will be available for use; \u2022 management intends to complete the software and use or sell it; \u2022 there is an ability to use or sell the software; \u2022 it can be demonstrated how the software will generate probable future economic benefits; \u2022 adequate technical, financial and other resources to complete the development and to use or sell the software are available; and \u2022 the expenditure attributable to the software during its development can be reliably measured. The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Expenditure includes salaries, wages and other employee-related costs directly engaged in generating the assets and any other expenditure that is directly attributable to generating the assets (i.e. certifications and amortisation of right of use assets). Where no internally generated intangible asset can be recognised, development expenditure is recognised in profit or loss in the period in which it is incurred. (ii) Subsequent expenditure Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures, including expenditures on internally generated goodwill and brands, are recognised in the profit or loss as incurred. (iii) Amortisation Amortisation is calculated to write off the cost of intangible assets less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognised in the profit or loss. Goodwill is not amortised. The estimated useful lives for current and comparative periods are as follows:
%
Domain names
Indefinite
Internally generated capitalised development costs
20\u201333
Technology IP
13\u201333
Customer lists
In line with projected cash flows or 7\u201320
Affiliate contracts
5\u201312.5
Patents and licences 10\u201333 or over the period of the licence
Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-660": { "value": "Goodwill Goodwill represents the excess of the cost of a business combination over the Group\u2019s interest in the fair value of identifiable assets, liabilities and contingent liabilities acquired. Cost comprises the fair value of assets given, liabilities assumed and equity instruments issued, plus the amount of any non-controlling interests in the acquiree plus, if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree. Direct costs of acquisition are recognised immediately as an expense. Goodwill is capitalised as an intangible asset with any impairment in carrying value being charged to profit or loss. Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is credited in full to the profit or loss on the acquisition date as a gain on bargain purchase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-661": { "value": "Externally acquired intangible assets Other intangible assets that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortisation and any accumulated impairment losses. Business combinations Intangible assets are recognised on business combinations if they are separable from the acquired entity or arise from other contractual/legal rights. The amounts ascribed to such intangibles are arrived at by using appropriate valuation techniques. Internally generated intangible assets (development costs) Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Group are recognised as intangible assets where the following criteria are met: \u2022 it is technically feasible to complete the software so that it will be available for use; \u2022 management intends to complete the software and use or sell it; \u2022 there is an ability to use or sell the software; \u2022 it can be demonstrated how the software will generate probable future economic benefits; \u2022 adequate technical, financial and other resources to complete the development and to use or sell the software are available; and \u2022 the expenditure attributable to the software during its development can be reliably measured. The amount initially recognised for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Expenditure includes salaries, wages and other employee-related costs directly engaged in generating the assets and any other expenditure that is directly attributable to generating the assets (i.e. certifications and amortisation of right of use assets). Where no internally generated intangible asset can be recognised, development expenditure is recognised in profit or loss in the period in which it is incurred. (ii) Subsequent expenditure Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures, including expenditures on internally generated goodwill and brands, are recognised in the profit or loss as incurred. (iii) Amortisation Amortisation is calculated to write off the cost of intangible assets less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognised in the profit or loss. Goodwill is not amortised. The estimated useful lives for current and comparative periods are as follows:
%
Domain names
Indefinite
Internally generated capitalised development costs
20\u201333
Technology IP
13\u201333
Customer lists
In line with projected cash flows or 7\u201320
Affiliate contracts
5\u201312.5
Patents and licences 10\u201333 or over the period of the licence
Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-612": { "value": "K. Assets held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. The criteria for held for sale classification are regarded as met only when the sale is highly probable, and the asset or disposal group is available for immediate sale in its present condition. Actions required to complete the sale should indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management must be committed to the plan to sell the asset and the sale expected to be completed within one year from the date of the classification. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. Any impairment loss on a disposal group is allocated first to goodwill, and then to the remaining assets on a pro rata basis, except that no loss is allocated to inventories, financial assets or deferred tax assets, which continue to be measured in accordance with the Group\u2019s other accounting policies. Impairment losses on initial classification as held for sale or held for distribution and subsequent gains and losses on remeasurement are recognised in the profit or loss. Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortised or depreciated. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-613": { "value": "L. Financial instruments Initial recognition and subsequent measurement A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (i) Financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in four categories: \u2022 financial assets at amortised cost (debt instruments); \u2022 financial assets at fair value through other comprehensive income with recycling of cumulative gains and losses (debt instruments); \u2022 financial assets designated at fair value through other comprehensive income with no recycling of cumulative gains and losses upon derecognition (equity instruments); and \u2022 financial assets at fair value through profit or loss. Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. The Group\u2019s financial assets at amortised cost include trade receivables, loans receivable and cash and cash equivalents. At every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the Group considers whether there has been a significant increase in credit risk depending on the characteristics of each debt instrument. Cash and cash equivalents consist of cash at bank and in hand, short-term deposits with an original maturity of less than three months and customer balances. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in profit or loss. This category includes listed equity investments which the Group has not irrevocably elected to classify at fair value through OCI. The Group recognises a debt financial instrument with an embedded conversion option, such as a loan convertible into ordinary shares of an entity, as a financial asset in the balance sheet. On initial recognition, the convertible loan is measured at fair value with any gain or loss arising on subsequent measurement until conversion recognised in profit or loss. On conversion of a convertible instrument, the Group derecognises the financial asset component and recognises it as an investment (equity interest, associate, joint venture or subsidiary) depending on the results of the assessment performed under the relevant standards. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e. removed from the Group\u2019s consolidated balance sheet) when: \u2022 the rights to receive cash flows from the asset have expired; or \u2022 the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a \u201cpass-through\u201d arrangement, and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its rights to receive cash flows from an asset, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither: transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Impairment The Group recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. (ii) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group\u2019s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, and derivative financial instruments. Subsequent measurement For purposes of subsequent measurement, financial liabilities are classified in two categories: \u2022 financial liabilities at fair value through profit or loss; and \u2022 financial liabilities at amortised cost (loans and borrowings and bonds). Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities at amortised cost This is the category most relevant to the Group. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest rate (EIR) method. Gains and losses are recognised in the profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in profit or loss. Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in profit or loss. (iii) Offsetting Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. T. Fair value measurement \u201cFair value\u201d is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability; or (b) in the absence of a principal market, in the most advantageous market for the asset or liability. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2022 Level 1 \u2013 quoted (unadjusted) market prices in active markets for identical assets or liabilities. \u2022 Level 2 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. \u2022 Level 3 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-662": { "value": "(i) Financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset\u2019s contractual cash flow characteristics and the Group\u2019s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Subsequent measurement For purposes of subsequent measurement, financial assets are classified in four categories: \u2022 financial assets at amortised cost (debt instruments); \u2022 financial assets at fair value through other comprehensive income with recycling of cumulative gains and losses (debt instruments); \u2022 financial assets designated at fair value through other comprehensive income with no recycling of cumulative gains and losses upon derecognition (equity instruments); and \u2022 financial assets at fair value through profit or loss. Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. The Group\u2019s financial assets at amortised cost include trade receivables, loans receivable and cash and cash equivalents. At every reporting date, the Group evaluates whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making that evaluation, the Group reassesses the internal credit rating of the debt instrument. In addition, the Group considers whether there has been a significant increase in credit risk depending on the characteristics of each debt instrument. Cash and cash equivalents consist of cash at bank and in hand, short-term deposits with an original maturity of less than three months and customer balances. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in profit or loss. This category includes listed equity investments which the Group has not irrevocably elected to classify at fair value through OCI. The Group recognises a debt financial instrument with an embedded conversion option, such as a loan convertible into ordinary shares of an entity, as a financial asset in the balance sheet. On initial recognition, the convertible loan is measured at fair value with any gain or loss arising on subsequent measurement until conversion recognised in profit or loss. On conversion of a convertible instrument, the Group derecognises the financial asset component and recognises it as an investment (equity interest, associate, joint venture or subsidiary) depending on the results of the assessment performed under the relevant standards. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e. removed from the Group\u2019s consolidated balance sheet) when: \u2022 the rights to receive cash flows from the asset have expired; or \u2022 the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a \u201cpass-through\u201d arrangement, and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its rights to receive cash flows from an asset, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither: transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Impairment The Group recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-697": { "value": "Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in profit or loss. This category includes listed equity investments which the Group has not irrevocably elected to classify at fair value through OCI. The Group recognises a debt financial instrument with an embedded conversion option, such as a loan convertible into ordinary shares of an entity, as a financial asset in the balance sheet. On initial recognition, the convertible loan is measured at fair value with any gain or loss arising on subsequent measurement until conversion recognised in profit or loss. On conversion of a convertible instrument, the Group derecognises the financial asset component and recognises it as an investment (equity interest, associate, joint venture or subsidiary) depending on the results of the assessment performed under the relevant standards. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. T. Fair value measurement \u201cFair value\u201d is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability; or (b) in the absence of a principal market, in the most advantageous market for the asset or liability. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: \u2022 Level 1 \u2013 quoted (unadjusted) market prices in active markets for identical assets or liabilities. \u2022 Level 2 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. \u2022 Level 3 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable . ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-698": { "value": "Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e. removed from the Group\u2019s consolidated balance sheet) when: \u2022 the rights to receive cash flows from the asset have expired; or \u2022 the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a \u201cpass-through\u201d arrangement, and either (a) the Group has transferred substantially all the risks and rewards of the asset; or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its rights to receive cash flows from an asset, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither: transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in profit or loss. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-711": { "value": "Impairment The Group recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Q. Impairment of non-financial assets At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than inventories and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset\u2019s recoverable amount is estimated. For goodwill in particular, the Group is required to test annually and also when impairment indicators arise, whether goodwill and indefinite life assets have suffered any impairment. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Goodwill arising from a business combination is allocated to CGUs that are expected to benefit from the synergies of the combination. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs of disposal. Value in use is based on the estimated future cash flows, discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its recoverable amount. Impairment losses are recognised in the profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-699": { "value": "Impairment The Group recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-663": { "value": "(ii) Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group\u2019s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, and derivative financial instruments. Subsequent measurement For purposes of subsequent measurement, financial liabilities are classified in two categories: \u2022 financial liabilities at fair value through profit or loss; and \u2022 financial liabilities at amortised cost (loans and borrowings and bonds). Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities at amortised cost This is the category most relevant to the Group. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective interest rate (EIR) method. Gains and losses are recognised in the profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in profit or loss. Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in profit or loss. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-664": { "value": "(iii) Offsetting Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-614": { "value": "M. Share capital Ordinary shares are classified as equity and are stated at the proceeds received net of direct issue costs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-615": { "value": "N. Share buyback Consideration paid for the share buyback is recognised against the additional paid in capital. Any excess of the consideration paid over the weighted average price of shares in issue is debited to the retained earnings. O. Employee Benefit Trust Consideration paid/received for the purchase/sale of shares subsequently put in the Employee Benefit Trust, which is controlled by the Company, is recognised directly in equity. The cost of shares held is presented as a separate reserve (the \u201cEmployee Benefit Trust reserve\u201d). Any excess of the consideration received on the sale of treasury shares over the weighted average cost of the shares sold is credited to retained earnings. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-617": { "value": "P. Dividends Dividends are recognised when they become legally due. In the case of interim dividends to equity shareholders, this is when paid by the Company. In the case of final dividends, this is when they are declared and approved by the shareholders at the AGM. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-616": { "value": "Q. Impairment of non-financial assets At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than inventories and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset\u2019s recoverable amount is estimated. For goodwill in particular, the Group is required to test annually and also when impairment indicators arise, whether goodwill and indefinite life assets have suffered any impairment. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Goodwill arising from a business combination is allocated to CGUs that are expected to benefit from the synergies of the combination. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs of disposal. Value in use is based on the estimated future cash flows, discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its recoverable amount. Impairment losses are recognised in the profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-618": { "value": "R. Provisions Provisions for legal claims are recognised when the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are not recognised for future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be minimum. Provisions are measured at the present value of management\u2019s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-619": { "value": "S. Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
Group as a lessee
The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group
recognises lease liabilities to make lease payments and right of use assets representing the right to use the underlying assets.
(i) Right of use assets
The Group recognises right of use assets at the commencement date of the lease (i.e. the date the underlying asset is available for use). Right of use assets
are measured at cost, less any accumulated amortisation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right of
use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less
any lease incentives received. Right of use assets are amortised on a straight-line basis over the shorter of the lease term and the estimated useful lives of the
assets.
(ii) Lease liabilities
At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease
term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments
that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of
a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects the Group
exercising the option to terminate.
Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period in which the event or condition that triggers the
payment occurs.
In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate
implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and
reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g.
changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to
purchase the underlying asset. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right of use
asset or is recorded in the profit or loss if the carrying amount of the right of use asset has been reduced to zero.
The cash payments made in relation to long-term leases are split between principal and interest paid on lease liability and disclosed within financing activities in
the consolidated statement of cash flows.
(iii) Short-term leases and leases of low-value assets
The Group applies the short-term lease recognition exemption to its short-term leases (i.e. those leases that have a lease term of 12 months or less from the
commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered
to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as an expense on a straight-line basis over the lease term
and included within financing activities in the consolidated statement of cash flows.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-665": { "value": "
T. Fair value measurement
\u201cFair value\u201d is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (a) in
the principal market for the asset or liability; or (b) in the absence of a principal market, in the most advantageous market for the asset or liability.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that
market participants act in their economic best interest.
The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximising the
use of relevant observable inputs and minimising the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as
follows, based on the lowest level input that is significant to the fair value measurement as a whole:
\u2022 Level 1 \u2013 quoted (unadjusted) market prices in active markets for identical assets or liabilities.
\u2022 Level 2 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.
\u2022 Level 3 \u2013 valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable .
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-620": { "value": "U. Adjusted performance measures (APMs) In the reporting of financial information, the Directors use various APMs. The Directors use the APMs to understand, manage and evaluate the business and make operating decisions. These APMs are among the primary factors management uses in planning for and forecasting future periods. As these are non-GAAP measures, they should not be considered as replacements for IFRS measures. The Group\u2019s definition of these non-GAAP measures may not be comparable to other similarly titled measures reported by other companies. The following are the definitions and purposes of the APMs used: Closest equivalent Reconciling items to APM IFRS measure statutory measure Definition and purpose Adjusted EBITDA Operating profit and Note 10 Adjusted results exclude the following items: and Adjusted Profit before tax \u2022Material non-cash items: these items are excluded to better analyse the underlying Profit cash transactions of the business as management regularly monitors the operating cash conversion to Adjusted EBITDA. \u2022 Material one-off items: these items are excluded to get normalised results that are not distorted by unusual or infrequent items. Unusual items include highly abnormal, one-off and only incidentally relating to the ordinary activities of the Group. Infrequent items are those which are not reasonably expected to recur in the foreseeable future given the environment in which the Group operates. \u2022Investment/acquisition-related items: these items are excluded as they are not related to the ordinary activities of the business and therefore are not considered to be ongoing costs of the operations of the business. These APMs provide a consistent measure of the performance of the Group from period to period by removing items that are considered to be either non-cash, one-off or investment/acquisition related items. This is a key management incentive metric. Adjusted gross Cash and cash Chief Financial Adjusted gross cash and cash equivalents is defined as the cash and cash equivalents cash and cash equivalents Officer\u2019s statement after deducting the cash balances held on behalf of operators in respect of operators\u2019 equivalents jackpot games and poker and casino operations as well as client funds with respect to B2C. Net debt None Chief Financial Net debt is defined as the Adjusted gross cash and cash equivalents after deducting Officer\u2019s statement loans and borrowings and bonds. Used to show level of net debt in the Group and movement from period to period. Adjusted net Net cash provided by Chief Financial Net cash provided by operating activities after adjusting for jackpots and client funds, cash provided operating activities Officer\u2019s statement professional fees and ADM (Italian regulator) security deposit. Adjusting for the by operating above cash fluctuations is essential in order to truly reflect the quality of revenue and activities cash collection. This is because the timing of cash inflows and outflows for jackpots, security deposits and client funds only impact the reported operating cash flow and not Adjusted EBITDA, while professional fees are excluded from Adjusted EBITDA but impact operating cash flow. Cash conversion None Chief Financial Cash conversion is defined as cash generated from operations as a percentage of Officer\u2019s statement Adjusted EBITDA. Adjusted cash None Chief Financial Adjusted cash conversion is defined as Adjusted net cash provided by operating conversion Officer\u2019s statement activities as a percentage of Adjusted EBITDA. Adjusted EPS EPS Note 14 The calculation of Adjusted EPS is based on the Adjusted Profit and weighted average number of ordinary shares outstanding. Adjusted diluted Diluted EPS Note 14 The calculation of Adjusted diluted EPS is based on the Adjusted Profit and weighted EPS average number of ordinary shares outstanding after adjusting for the effects of all dilutive potential ordinary shares. Adjusted tax Tax expense Note 10 Adjusted tax is defined as the tax charge for the period after deducting tax charges related to uncertain tax positions relating to prior years, deferred tax on acquisition and the write down of deferred tax assets in respect of tax losses arising in prior years. As these items either do not relate to the current year or are adjusted in arriving at the Adjusted Profit, they distort the effective tax rate for the period. ", "dimensions": { "concept": "playtechplc:DescriptionOfAccountingPolicyForAdjustedPerformanceMeasures", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-621": { "value": "V. Onerous contracts Present obligations arising under onerous contracts are recognised and measured as provisions. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it.", "dimensions": { "concept": "playtechplc:DescriptionOfAccountingPolicyForOnerousContracts", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-622": { "value": "
Note 6 \u2013 Significant accounting judgements, estimates and assumptions
In preparing these consolidated financial statements, management has made judgements and estimates that affect the application of the Group\u2019s accounting
policies and the reported amounts of assets, liabilities, income and expenses. Actual events may differ from these estimates.
Judgements
In the process of applying the Group\u2019s accounting policies management has made the following judgements, which have the most significant effect on the
amounts recognised in the consolidated financial statements.
Caliplay \u2013 impact of dispute and revised strategic agreement
Background
Following the announcement made on 16 September 2024 on the revised Tecnologia en Entretenimiento Caliplay, S.A.P.I. (\u201cCaliplay\u201d) agreement, the following
legal proceedings were on an agreed standstill as at 31 December 2024 and will be dismissed in full once the revised arrangements come into effect:
\u2022 As per the public announcement released by Playtech on 6 February 2023, the Group, through its subsidiary, PT Services Malta Limited (\u201cPT Malta\u201d), was
seeking a declaration from the English Courts to obtain clarification on a point of disagreement between Caliplay and PT Malta in relation to the Caliente Call
Option. The Caliente Call Option is an option held by Caliplay whereby, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay could redeem
PT Malta\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire PT Malta\u2019s
49% stake in Caliplay. The Group believes the Caliente Call Option has expired and first referred to its expiry having taken place in its interim report for the
six-month period ended 30 June 2022, which was published on 22 September 2022. The Group has not changed its position with regards to expiry. If the
Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option
(refer to Note 19A for details on these option arrangements).
\u2022 From H2 2023 the dispute with Caliplay also included litigation in relation to the B2B licensee fees and additional B2B services fees owed by Caliplay to
Playtech under the terms of the Group\u2019s licence agreement. The dispute related to amounts that date back to July 2023. The details of this dispute are
further explained in Note 7 of the Group\u2019s audited financial statements for the year ended 31 December 2023.
Revised strategic agreement with Caliplay
Under the amended terms, Playtech will:
\u2022 hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay (the \u201cCaliplay Group\u201d),
incorporated in the United States;
\u2022 be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the Board of Cali
Interactive;
\u2022 enter into a revised eight-year B2B software licence and services agreement; and
\u2022 receive from Cali Interactive an additional US$140.0 million paid in cash, phased over a four-year period
The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been
received, and completion of the revised arrangements is scheduled to take place on 31 March 2025.
Impact on revenue recognition and recovery of receivable
At 31 December 2023, the outstanding amount of the B2B licensee fee was \u20ac32.3 million and the outstanding amount of the additional B2B services fee was
\u20ac54.2 million. The Group recognised the full outstanding amount of \u20ac86.5 million within its total revenue for the year ended 31 December 2023 and in line with its
revenue recognition policies. In recognising the entire amount, the Group assessed that it was highly probable that there will not be a significant reversal of this
revenue in a subsequent period.
Following the entering into of the revised strategic agreement on 15 September 2024, Caliplay resumed paying Playtech its fees, which included a settlement
of the entirety of the amount outstanding at 31 December 2023, a significant portion of the outstanding receivable relating to 2024 performance prior to the
agreement, with a balance due also being paid into an escrow account and to be released to Playtech on completion of the revised arrangements. In 2024, the
Group continued to recognise revenue from Caliplay in line with its current license agreement and revenue recognition polices. As a result of this, the Group
released \u20ac0.7 million from expected credit losses related to trade receivables as of 31 December 2024.
Finally, the settlement included late payment fees of \u20ac7.1 million which have been recognised within interest income.
Revenue from contracts with customers
The Group applies judgement in determining whether it is acting as a principal or an agent specifically on the revenue earned under the B2B licensee fee
stream. This income falls within the scope of IFRS 15 Revenue from Contracts with Customers. In making these judgements, the Group considers, by examining
each contract with its customers, which party has the primary responsibility for providing the services and is exposed to the majority of the risks and rewards
associated with providing the services, as well as if it has latitude in establishing prices, either directly or indirectly. The business model of this division is
predominantly a revenue share model which is based on software fees earned from B2C business partners\u2019 revenue.
IFRS 15, paragraph B37 describes indicators that an entity controls the specified good or service before it is transferred to a customer and therefore acts as the
principal. Based on this assessment it was concluded that Playtech is acting as an agent under the B2B licensee fee stream due to the three indicators under
B37 which are not satisfied as follows:
\u2022 Playtech is responsible in fulfilling the contract to the operator, principally in respect of the software solutions, and not to the end customer which is the
responsibility of the operator;
\u2022 there is no inventory risk as Playtech does not have the ability to direct the use of, and obtain substantially all of the remaining benefits from, the good or
service before it is transferred to the end customer; and
\u2022 Playtech does not have any discretion in establishing prices set by the operator to third parties.
Based on the above it was determined that the Group was acting as agent and revenue is recognised as the net amount of B2B licensee fees received. The
majority of this B2B revenue is recognised when the gaming or betting activity used as the basis for the revenue share calculation takes place, and furthermore
is only recognised when collection is virtually certain with a legally enforceable right to collect.
The Group applied judgement in determining whether price concessions in respect of ongoing negotiations and contract modifications should be accounted
for as variable consideration in revenue. Once there is a valid expectation that the concession of the variable consideration is highly probable, the Group
accounts for it under IFRS 15 paragraph 52.
IFRS 15, paragraph 52 describes that in addition to the terms of the contract, the promised consideration is variable if either of the following circumstances exists:
\u2022 The operator has a valid expectation arising from Playtech\u2019s customary business practices, published policies or specific statements that Playtech
will accept an amount of consideration that is less than the price stated in the contract, that is, it is expected that Playtech will offer a price concession.
Depending on the jurisdiction, industry or customer this offer may be referred to as a discount, rebate, refund or credit.
\u2022 Other facts and circumstances indicate that Playtech\u2019s intention, when entering into the contract with the operator, is to offer a price concession to the
operator.
The Group has estimated the variable consideration based on the best estimates of future outcomes to determine the most likely amount of consideration to
be received.
Internally generated intangible assets
The Group capitalises costs for product development projects. Expenditure on internally developed products is capitalised when it meets the following criteria:
\u2022 adequate resources are available to complete and sell the product;
\u2022 the Group is able to sell the product;
\u2022 sale of the product will generate future economic benefits; and
\u2022 expenditure on the project can be measured reliably.
Initial capitalisation of cost is based on management\u2019s judgement that the technological and economic feasibility is confirmed, usually when product
development has reached a defined milestone and future economic benefits are expected to be realised according to an established project management
model. Following capitalisation, an assessment is performed in regard to project recoverability which is based on the actual return of the project. During the year,
the Group capitalised \u20ac48.8 million for continuing and discontinued operation (2023: \u20ac56.7 million continuing and discontinued operations) and the carrying
amount of capitalised development costs as at 31 December 2024 was \u20ac111.9 million for continuing operations (2023: \u20ac133.5 million including held for sale).
Adjusted performance measures
As noted in Note 5, paragraph U, the Group presents adjusted performance measures which differ from statutory measures due to exclusion of certain non-
cash and one-off items from the actual results. The determination of whether these items should form part of the adjusted results is a matter of judgement as
management assess whether these items meet the definition disclosed in Note 5 paragraph U. The items excluded from the adjusted measures are described
in further detail in Note 10.
Provision for risks and charges and potential liabilities
The Group operates in a number of regulated markets and is subject to lawsuits and potential lawsuits regarding complex legal matters, which are subject to
a different degree of uncertainty in different jurisdictions and under different laws. For all material ongoing and potential legal and regulatory claims against the
Group, an assessment is performed to consider whether an obligation or possible obligation exists and to determine the probability of any potential outflow
to determine whether a claim results in the recognition of a provision or disclosure of a contingent liability. The timing of payment of provisions is subject to
uncertainty and may have an effect on the presentation of the provisions as current and non-current liabilities in the balance sheet. Expected timing of payment
and classification of provision is determined by management based on the latest information available at the reporting date. See Note 28 for further details.
Classification of equity call options
Background
In addition to the provision of software-related solutions as a B2B product, the Group also offers certain customers a form of offering (which includes software
and related services) which is termed a \u201cstructured agreement\u201d. Structured agreements are customarily with customers that have a gaming licence and are
retail/land-based operators that are looking to establish their online B2C businesses \u2013 these customers require initial support beyond the provision of the
Group\u2019s standard B2B software technology. With this product offering, Playtech offers additional services to support the customer\u2019s B2C activities over and
above the B2B software solution products.
Playtech generates revenues from the structured agreements as follows:
\u2022 B2B licensee fee income (as per Note 5D); and
\u2022 revenue based on predefined revenue generated by each customer under each structured agreement which is typically capped at a percentage of the
profit (also defined in each agreement) generated by the customer, which compensates Playtech for the additional services provided (additional B2B
services fee as per Note 5D).
Under these agreements, Playtech typically has a call option to acquire equity in the operating entities. If the call option is exercised by Playtech, the Group
would no longer provide certain services (which generally include technical and general strategic support services) and would no longer receive the related
additional B2B services fee. This mechanism is not designed as a control feature but mainly to protect Playtech\u2019s position should the customer be subject to an
exit transaction. Playtech is therefore able to benefit from any value appreciation in the operation and could also potentially cease to provide the additional B2B
services should it choose to do so dependent on the nature of the exit transaction.
Judgement applied
In respect of each of the structured agreements where the Group holds equity call options, management applies judgement to assess whether the Group has
control or significant influence. For each of the Group\u2019s structured agreements an assessment was completed in Note 19 using the below guidance.
The existence of control by an entity is evidenced if all of the below are met in accordance with IFRS 10 Consolidated Financial Statements, paragraph 7:
\u2022 power over the investee;
\u2022 exposure, or rights, to variable returns from its involvement with the investee; and
\u2022 the ability to use its power over the investee to affect the amount of the investor\u2019s returns.
In the cases where the Group assessed that it exercises control over these arrangements, then the company is consolidated in the Group\u2019s annual results in
accordance with IFRS 10.
The existence of significant influence by an entity is usually evidenced in one or more of the following ways in accordance with IAS 28 Investment in Associates
and Joint Ventures, paragraph 6:
\u2022 representation on the board of directors or equivalent governing body of the investee;
\u2022 participation in policy-making processes, including participation in decisions about dividends or other distributions;
\u2022 material transactions between the entity and its investee;
\u2022 interchange of managerial personnel; or
\u2022 provision of essential technical information.
If the conclusion is that the Group has significant influence, the next consideration made is whether there is current access to net profits and losses of the
underlying associate. This is determined by the exercise conditions of each relevant equity call option and in particular whether the options are exercisable at
the end of each reporting period.
If the option is exercisable then the investment is accounted for using the equity accounting method. However, in the cases where the company over which the
Group has a current exercisable option generates profits, management made a judgement and concluded that Playtech\u2019s share of profits (were the option to be
exercised) should not be recognised as it is unlikely that the profits will be realised as the existing shareholder has the right, and is entitled, to extract distributable
profits. As such, management did not consider it appropriate to recognise any share of these profits. However, in the cases where the associate has generated
losses, the Group\u2019s percentage share is recognised and deducted from the carrying value of the investment in associate.
Management has made a further judgement that if the equity call option is not exercisable at the end of the reporting period, then the option is recorded at fair
value as per IAS 28, paragraph 14 and recognised as a derivative financial asset as per IFRS 9 Financial Instruments.
Furthermore, under some of these arrangements the Group has provided loan advances. In such instances a judgement was made as to whether these
amounts form part of the Group\u2019s investment in the associate as per IAS 28, paragraph 38, with a key consideration being whether the Group expects
settlement to occur in the foreseeable future. In the case where this is not expected and there is no set repayment term, then it is concluded that in substance
these loans are extensions of the entity\u2019s investment in the associate and therefore would form part of the cost of the investment.
Finally, the Group has certain agreements in relation to the provision of services by service providers in connection with certain of the Group\u2019s obligations
under their various structured agreements. Under these arrangements, the service providers have certain rights to equity. In order for these rights to crystallise,
the Group must first exercise the relevant option. A judgement was therefore made that no current liability exists under IAS 32, until the point when Playtech
exercises the option.
Classification of assets as held for sale and discontinued operations
In applying the principles of asset held for sale and discontinued operations under IFRS 5, a significant degree of judgement is required.
In order for an asset to be classified as held for sale, it must be available for immediate sale in its present condition and its sale must be highly probable at the
reporting date. The meaning of \u201chighly probable\u201d is highly judgemental and therefore IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
sets out criteria for the sale to be considered as a highly probable as follows:
\u2022 Management must be committed to a plan to sell the asset;
\u2022 An active programme to find a buyer must be initiated;
\u2022 The asset must be actively marketed for sale at a price that is reasonable to its current fair value;
\u2022 The sale must be completed within one year from the date of classification;
\u2022 Significant changes to be made to the plan must be unlikely.
Similarly, in order for a relevant operation of assets held for sale to also be shown in discontinued operations, judgements will need to be made to assess
whether the operation is a component of the Group\u2019s business for which the operations and cash flows can be clearly distinguished from the rest of the Group
and which:
\u2022 represents a separate major line of business or geographical area of operations;
\u2022 is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations; or
\u2022 is a subsidiary acquired exclusively with a view to resale.
Snaitech CGU
An announcement was made on 17 September 2024 that Playtech Services (Cyprus) Limited, a subsidiary of the Group, has entered into a definitive
agreement for the sale of Snaitech B2C segment (through a sale of its immediate parent company) to Flutter Entertainment Holdings Ireland Limited, a
subsidiary of Flutter Entertainment plc (\u201cFlutter\u201d), for a total enterprise value of \u20ac2,300 million in cash. Completion of the sale, which is subject to certain
conditions including relevant antitrust, gaming and other regulatory authority approvals, is currently expected by Q2 2025. All the above criteria for held for sale
and discontinued operations were met at the point of the announcement. Therefore, the Snaitech B2C segment has been presented as an asset held for sale
and the results of the Snaitech B2C segment are included in discontinued operations, in a single line in the statement of comprehensive income.
HAPPYBET
During 2024 and following the announcement in relation to the Snaitech sale as outline above, the Group decided to also sell the HAPPYBET business. This
was for various reasons, including the fact that it has been loss-making since initial acquisition, it uses the intellectual property of Snaitech, and the Snaitech
management team overseeing the HAPPYBET operations will no longer be with the Group once the Snaitech sale completes. By the end of 2024, the Austrian
side of the HAPPYBET business was shut down, and the Group commenced the sales process for the rest of the business. Therefore, in applying the above
criteria, it was determined that the assets relating to the HAPPYBET business meet the definition of an asset held for sale at 31 December 2024. In making an
assessment as to the lower of carrying amount and fair value less costs to sell, an impairment of \u20ac5.1 million was recorded. With respect to the classification as
discontinued operations, HAPPYBET does not meet the criteria as its operations are not considered a separate line of business of the Group.
Recognition of Playtech incentive arrangements
Part of the proceeds from the expected disposal of the Snaitech CGU have been allocated as bonuses to Playtech\u2019s ongoing senior team to be used as a
retention tool. The total amount of \u20ac100 million plus social security costs will be paid 60% on completion of the disposal and the payment of dividends, with the
other 20% and 20% paid 12 and 24 months respectively post the completion of the transaction. Since this amount is funded from the Snaitech disposal, and
payable over a definitive three-year period, it is not included in Adjusted EBITDA. The communication sent out to the senior team in relation to this bonus pre
year end created a constructive obligation linked to IAS 19 Employee Benefits, paragraph 19 where a benefit is expected to be settled by virtue of the certainty
the Group had that the transaction will complete. The bonus has therefore been accrued from the point the constructive obligation was created in 2024 to the
point of expected payment post completion.
Exercise of option in LSports
In September 2024, the Group exercised its option in LSports, acquiring an additional 18%. Following the exercise of the option, the new shareholding is 49%,
making the Group the largest shareholder in LSports. Under IFRS 10, paragraph 7, the Group does not have control over the investee by holding 49% because
the remaining 51% shareholders form a consortium by virtue of being related, a position which has also been supported through a legal confirmation from
LSports.
Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, which have a significant risk of causing
a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions
and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future
developments may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the
assumptions when they occur.
Impairment of non-financial assets
Cash-generating units
Impairment exists when the carrying value of an asset or cash-generating unit (CGU) exceeds its recoverable amount, which is the higher of its fair value less
costs to sell and its value in use. The value in use calculation is based on a discounted cash flow model (DCF). The cash flows are derived from the three-year
budget, with CGU-specific assumptions for the subsequent two years. They do not include restructuring activities that the Group is not yet committed to or
significant future investments that may enhance the performance of the assets of the CGU being tested. The recoverable amount is sensitive to the discount
rate used for the DCF model as well as the expected future cash inflows and the growth rates used in years four and five and for extrapolation purposes. These
estimates are most relevant to goodwill and other intangibles with indefinite useful lives recognised by the Group. The key assumptions used to determine
the recoverable amount of the different CGUs are disclosed and further explained in Note 18, including a sensitivity analysis for the CGUs that have lower
headroom.
Investment in associates
In assessing impairment of investments in associates, management utilises various assumptions and estimates that include projections of future cash
flows generated by the associate, determination of appropriate discount rates reflecting the risks associated with the investment, and consideration of
market conditions relevant to the investee\u2019s industry. The Group exercises judgement in evaluating impairment indicators and determining the amount of
impairment loss, if any. This involves assessing the recoverable amount of the investment based on available information and making decisions regarding the
appropriateness of key assumptions used in impairment testing.
Income taxes
The Group is subject to income tax in several jurisdictions and significant judgement is required in determining the provision for income taxes. During the
ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain. As a result, the Group recognises tax
liabilities based on estimates of whether additional taxes and interest will be due. These tax liabilities are recognised when, despite the Group\u2019s belief that its
tax return positions are supportable, the Group believes it is more likely than not that a taxation authority would not accept its filing position. In these cases, the
Group records its tax balances based on either the most likely amount or the expected value, which weights multiple potential scenarios. The Group believes
that its accruals for tax liabilities are adequate for all open audit years based on its assessment of many factors including past experience and interpretations
of tax law. This assessment relies on estimates and assumptions and may involve a series of complex judgements about future events. To the extent that
the final tax outcome of these matters is different than the amounts recorded, such differences will impact income tax expense in the period in which such
determination is made. Where management conclude that it is not probable that the taxation authority will accept an uncertain tax treatment, they calculate the
effect of uncertainty in determining the related taxable profit (tax loss), tax bases, unused tax losses, unused tax credits or tax rates. The effect of uncertainty for
each uncertain tax treatment is reflected by using the expected value \u2013 the sum of the probabilities and the weighted amounts in a range of possible outcomes.
More details are included in Note 13.
Deferred tax asset
In evaluating the Group\u2019s ability to recover our deferred tax assets in the jurisdiction from which they arise, management considers all available positive and
negative evidence, projected future taxable income, tax-planning strategies and results of recent operations. Deferred tax asset is recognised to the extent
that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Judgement is required in determining the
initial recognition and the subsequent carrying value of the deferred tax asset. Deferred tax asset is only able to be recognised to the extent that utilisation is
considered probable. It is possible that a change in profit forecasts or risk factors could result in a material change to the income tax expense and deferred tax
asset in future periods.
Deferred tax asset in the UK
As a result of the Group\u2019s internal restructuring in January 2021, the Group is entitled to UK tax deductions in respect of certain goodwill and intangible assets.
A deferred tax asset was recognised as the tax base of the goodwill and intangible assets is in excess of the book value base of those assets. At the beginning
of the period, the net recognised deferred tax asset amounted to \u20ac36.8 million. During the period, the Group released \u20ac36.8 million of this deferred tax asset
as expected utilisation would fall outside the forecasting period and therefore there is not sufficient certainty that the Group would be able to generate taxable
profits. At 31 December 2024 , the deferred tax asset recognised in respect of future tax deductions for goodwill and intangible assets is \u20acNil. A total of
\u20ac57.0 million of deferred tax asset has not been recognised in respect of the benefit of future tax deductions related to the goodwill and intangible assets as
there is not sufficient certainty of utilisation.
Deferred tax assets are reviewed at each reporting date. In considering their recoverability, the Group assesses the likelihood of their being recovered within a reasonably foreseeable timeframe, which is broadly in line with our viability assessment and the cash flow forecasts period used in our CGU impairment assessment. The Group updated its forecasts, following changes in assumptions made to the forecasts during 2024, due to certain changes in the current period to the expected profit profile within its UK business unit that carries significant losses. This included the impact of the revised arrangements with Caliplay (Note 6) and expected reductions in revenue from other sports licensees, which together also led to the full impairment of the Sports B2B CGU (Note 18) in the current year. Furthermore, the recognition and settlement of the Playtech incentive arrangements as outlined above is also expected to increase the taxable losses in the UK. This forms a change in accounting estimate and resulted in a reversal of \u20ac33.0 million in the current year of previously recognised deferred tax assets in respect of UK tax losses brought forward and excess interest expense. As at 31 December 2024, there is a deferred tax asset of \u20ac2.6 million in respect of UK tax losses and excess interest expense (2023: \u20ac35.6 million). Based on the current forecasts, these losses will be fully utilised over the forecast period. Remaining UK tax losses and excess interest expense have not been provided for representing an unrecognised deferred tax asset of \u20ac141.2 million (2023: \u20ac40.3 million) as at 31 December 2024 as expected utilisation would fall outside the forecasting period and therefore there is not sufficient certainty they will be recovered. Any future changes in the tax law or the structure of the Group could have a significant effect on the use of the tax deductions, including the period over which the deductions can be utilised. Deferred tax assets in Italy The Group has utilised its tax losses in Italy and therefore has \u20acNil deferred tax asset as at 31 December 2024 (2023: \u20ac2.1 million) in respect of tax losses in Italy. Impairment of financial assets The Group undertook a review of trade receivables and other financial assets, as applicable, and their expected credit losses (ECLs). The review considered the macroeconomic outlook, customer credit quality, exposure at default, and effect of payment deferral options as at the reporting date. The ECL methodology and definition of default remained consistent with prior periods. The model inputs, including forward-looking information, scenarios and associated weightings, together with the determination of the staging of exposures, were revised. The Group\u2019s financial assets consist of trade and loans receivables and cash and cash equivalents. ECL on cash balances was considered and calculated by reference to Moody\u2019s credit ratings for each financial institution, while ECL on trade and loans receivables was based on past default experience and an assessment of the future economic environment. More details are included in Note 35. The contracts relating to two Asia distributors were terminated in 2024 in conjunction with Playtech entering into an agreement in September 2024 with a new distributor in Asia for a period of five years. With respect to the two terminated contracts an additional provision was made in the year ended 31 December 2024 against receivables of \u20ac12.4 million (2023: \u20ac3.4 million). The provision is part of \u20ac10.6 million of impairment of financial assets in the statement of comprehensive income as at 31 December 2024. The total provision at 31 December 2024 is \u20ac38.7 million, which represents a 100% provision of all unpaid balances at year end. Under the termination agreements, a total amount of \u20ac24.0 million is payable by the Group, of which \u20ac10.2 million was paid in 2024 and the remaining amount payable by 31 December 2025. Management concluded that since the payments are not in relation to Playtech\u2019s performance under the contract\u2019s pre- termination, they represented a separate transaction and as such disclosed an expense rather than taking a reduction against revenue. Furthermore, some of the termination payments to be made in 2025 relate to a non-compete period to 31 December 2025, and therefore would ordinarily be capitalised as an intangible and amortised over the period. However, a judgement was made that both the length and enforceability of the non-compete clause does not meet the high threshold of asset recognition and as such expensed the full amount in 2024. As per Note 10, these costs are not considered an ongoing cost of operations and have therefore been excluded from Adjusted EBITDA. Sun Bingo agreement Background The News UK contract commenced in 2016 and was originally set for a five-year period to June 2021. Both parties have obligations under the contract, which includes News UK providing access to brand and related materials as well as other services. Playtech has the primary responsibility for the operation of the arrangement, but both parties have contractual responsibilities. The related brands are used in Playtech\u2019s B2C service, where the Group acts as the principal, meaning that in the Group\u2019s consolidated statement of comprehensive income: \u2022 revenue from B2C customers is recognised as income; and \u2022 the fees paid to News UK for use of the brands are an expense as they are effectively a supplier. In the original contract, the fees payable were subject to a predetermined annual minimum guarantee (MG) which Playtech had to pay to News UK.
During the period from 2016 to 2018, performance was not in line with expectations, and as such, the MG made this operation significantly loss-making for the
Group. This opened the negotiations with News UK for certain amendments to the contract, which were agreed and signed in February 2019 as follows:
\u2022 the MG was still payable up until the end of the original contract period, being June 2021, with no MG payable after that; and
\u2022 the contract term was extended to permit Playtech access to News UK\u2019s brands and other related materials and other services, for a longer period, to allow
Playtech to recover its MG payments and to make a commercial return as was always envisaged. The term of the contract was extended to end at the
earlier of: a) five years from the date when Playtech had fully recovered all MG payments made; or b) 15 years from the renegotiation (i.e. June 2036).
Judgements made on recognition and measurement
The annual MG paid to News UK was recognised in Playtech\u2019s profit or loss up until February 2019, essentially being expensed over the original term of the
contract. However, from the point at which the amended contract became effective, the timing of the MG paid (being based on the original terms) no longer
reflected the period over which Playtech was consuming the use of the News UK brands and other related services from them. As such, a prepayment was
recorded to reflect the amount that had been paid, as at each period end, which related to the future use of the brands and services. IFRS do not have a specific
standard that deals with accounting for prepayments; however, the asset recognised as a prepayment is in accordance with IAS 1 Presentation of Financial
Statements.
At the commencement of the agreement and on renegotiation of the contract, the Directors considered whether the nature of the arrangement gave rise to
any intangible assets. At contract inception the Directors concluded that there were no such assets to recognise as both parties had contractual obligations
under the agreement to deliver services, as explained above. Post the contract renegotiation, the amounts to be paid in the remainder of the initial period were
considered to be advanced payments in respect of amounts to be earned by News UK over the remainder of the extended contract period. Consequently,
the Directors did not believe that there was a fundamental change in the nature of the arrangements and it was considered most appropriate to categorise the
amounts paid as operating expense prepayments.
As noted above, the term of this renegotiated contract is dependent on the future profitability of the contract, and it was expected that the future profitability
would mean the contract would finish before the end of the fixed term period. For this reason, it was considered appropriate that the prepayment recognised
should be released to the profit or loss in line with this expected profitability, rather than on a straight-line basis.
The amounts held in non-current and current assets of \u20ac56.2 million (2023: \u20ac58.7 million) and \u20ac4.5 million (2023: \u20ac4.4 million) in Notes 20 and 22, respectively,
are the differences between the MG actually paid to News UK from February 2019 to June 2021 and the amounts recognised in the Group\u2019s profit or loss from
February 2019 to December 2024.
As with any budgeting process, there is always a risk that the plan may not be realised. This risk increases the longer the period for which the budget covers
and in this instance the period is potentially up to 12 years from 31 December 2024. When producing the budget, management applies reasonable assumptions
based on known factors, but sometimes and outside of management\u2019s control, these factors may vary. However, management also reviews these forecasts at
each reporting period and more regularly internally and adjusts the expense released accordingly. Based on the most recent forecasts and current profitability
and the fact that the Group had been running the operation since 2016 and therefore has significant experience of the level of profitability that can be derived
from the operation, it is confident that the performance of the business will allow the full recovery of this asset, before the contract ends.
Calculation of legal provisions
The Group ascertains a liability in the presence of legal disputes or ongoing lawsuits when it believes it is probable that a financial outlay will take place and when
the amount of the losses can be reasonably estimated. The Group is subject to lawsuits regarding complex legal problems, which are subject to a differing
degree of uncertainty (also due to a complex legislative framework), including the facts and the circumstances inherent to each case, the jurisdiction and the
different laws applicable. Given the uncertainties inherent to these problems, it is difficult to predict with certainty the outlay which will derive from these disputes
and it is therefore possible that the value of the provisions for legal proceedings and disputes may vary depending on future developments in the proceedings
underway. The Group monitors the status of the disputes underway and consults with its legal advisers and experts on legal and tax-related matters. More
details are included in Note 28.
Galera loan recovery
As per Note 19A, the total outstanding loan amount from Ocean 88 at 31 December 2024 was \u20ac71.8 million (2023: \u20ac48.8 million). Based on the recoverability
assessment performed, it was deemed that these loans will be repaid and are therefore recoverable. However, an additional ECL percentage of 5% was
recorded at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation within a country. This includes risks related to system
integration, user experience and compliance monitoring, which could result in the loss of players due to operational disruptions, penalties, and loss of licenses
for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023: \u20ac2.0 million).
Measurement of fair values of equity investments and equity call options
The Group\u2019s equity investments and, where applicable (based on the judgements applied above), equity call options held by the Group, are measured at fair
value for financial reporting purposes. The Group has an established control framework with respect to the measurement of fair value.
In estimating the fair value of an asset and liability, the Group uses market-observable data to the extent it is available. Where Level 1 inputs are not available, the
Group engages third-party qualified valuers to assist in performing the valuation. The Group works closely with the qualified valuers to establish the appropriate
valuation techniques and inputs to the model.
As mentioned in Note 19, the Group has:
\u2022 investments in listed securities where the fair values of these equity shares are determined by reference to published price quotations in an active market;
\u2022 equity investments in entities that are not listed, accounted at fair value through profit or loss under IFRS 9; and
\u2022 derivative financial assets (call options in instruments containing potential voting rights), which are accounted at fair value through profit or loss under IFRS 9.
The fair values of the equity investments that are not listed, and of the derivative financial assets, rely on non-observable inputs that require a higher level of
management judgement to calculate a fair value than those based wholly on observable inputs. Valuation techniques used to calculate fair values include
comparisons with similar financial instruments for which market observable prices exist, DCF analysis and other valuation techniques commonly used by
market participants. Upon the use of DCF method, the Group assumes that the expected cash flows are based on the EBITDA.
The Group only uses models with unobservable inputs for the valuation of certain unquoted equity investments. In these cases, estimates are made to
reflect uncertainties in fair values resulting from a lack of market data inputs; for example, as a result of illiquidity in the market. Inputs into valuations based on
unobservable data are inherently uncertain because there is little or no current market data available from which to determine the level at which an arm\u2019s length
transaction would occur under normal business conditions. Unobservable inputs are determined based on the best information available. Further details on the
fair value of assets are disclosed in Note 19.
The following table shows the carrying amount and fair value of non-current assets, as disclosed in Note 19, including their levels in the fair value hierarchy.
Carrying
amount
Fair value
2024 Level 1 Level 2 Level 3
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Non-current assets
Other investments (Note 19B)
152.1
11.1
\u2014
141.0
Derivative financial assets (Note 19C)
895.0
\u2014
\u2014
895.0
1,047.1
11.1
\u2014
1,036.0
Carrying
amount
Fair value
2023 Level 1 Level 2 Level 3
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Non-current assets
Other investments (Note 19B)
92.8
15.8
\u2014
77.0
Derivative financial assets (Note 19C)
827.8
\u2014
\u2014
827.8
920.6
15.8
\u2014
904.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-666": { "value": "Note 6 \u2013 Significant accounting judgements, estimates and assumptions In preparing these consolidated financial statements, management has made judgements and estimates that affect the application of the Group\u2019s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual events may differ from these estimates. Judgements In the process of applying the Group\u2019s accounting policies management has made the following judgements, which have the most significant effect on the amounts recognised in the consolidated financial statements. Caliplay \u2013 impact of dispute and revised strategic agreement Background Following the announcement made on 16 September 2024 on the revised Tecnologia en Entretenimiento Caliplay, S.A.P.I. (\u201cCaliplay\u201d) agreement, the following legal proceedings were on an agreed standstill as at 31 December 2024 and will be dismissed in full once the revised arrangements come into effect: \u2022 As per the public announcement released by Playtech on 6 February 2023, the Group, through its subsidiary, PT Services Malta Limited (\u201cPT Malta\u201d), was seeking a declaration from the English Courts to obtain clarification on a point of disagreement between Caliplay and PT Malta in relation to the Caliente Call Option. The Caliente Call Option is an option held by Caliplay whereby, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay could redeem PT Malta\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire PT Malta\u2019s 49% stake in Caliplay. The Group believes the Caliente Call Option has expired and first referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. The Group has not changed its position with regards to expiry. If the Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option (refer to Note 19A for details on these option arrangements). \u2022 From H2 2023 the dispute with Caliplay also included litigation in relation to the B2B licensee fees and additional B2B services fees owed by Caliplay to Playtech under the terms of the Group\u2019s licence agreement. The dispute related to amounts that date back to July 2023. The details of this dispute are further explained in Note 7 of the Group\u2019s audited financial statements for the year ended 31 December 2023. Revised strategic agreement with Caliplay Under the amended terms, Playtech will: \u2022 hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay (the \u201cCaliplay Group\u201d), incorporated in the United States; \u2022 be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the Board of Cali Interactive; \u2022 enter into a revised eight-year B2B software licence and services agreement; and \u2022 receive from Cali Interactive an additional US$140.0 million paid in cash, phased over a four-year period The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been received, and completion of the revised arrangements is scheduled to take place on 31 March 2025. Impact on revenue recognition and recovery of receivable At 31 December 2023, the outstanding amount of the B2B licensee fee was \u20ac32.3 million and the outstanding amount of the additional B2B services fee was \u20ac54.2 million. The Group recognised the full outstanding amount of \u20ac86.5 million within its total revenue for the year ended 31 December 2023 and in line with its revenue recognition policies. In recognising the entire amount, the Group assessed that it was highly probable that there will not be a significant reversal of this revenue in a subsequent period. Following the entering into of the revised strategic agreement on 15 September 2024, Caliplay resumed paying Playtech its fees, which included a settlement of the entirety of the amount outstanding at 31 December 2023, a significant portion of the outstanding receivable relating to 2024 performance prior to the agreement, with a balance due also being paid into an escrow account and to be released to Playtech on completion of the revised arrangements. In 2024, the Group continued to recognise revenue from Caliplay in line with its current license agreement and revenue recognition polices. As a result of this, the Group released \u20ac0.7 million from expected credit losses related to trade receivables as of 31 December 2024. Finally, the settlement included late payment fees of \u20ac7.1 million which have been recognised within interest income. Revenue from contracts with customers The Group applies judgement in determining whether it is acting as a principal or an agent specifically on the revenue earned under the B2B licensee fee stream. This income falls within the scope of IFRS 15 Revenue from Contracts with Customers. In making these judgements, the Group considers, by examining each contract with its customers, which party has the primary responsibility for providing the services and is exposed to the majority of the risks and rewards associated with providing the services, as well as if it has latitude in establishing prices, either directly or indirectly. The business model of this division is predominantly a revenue share model which is based on software fees earned from B2C business partners\u2019 revenue. IFRS 15, paragraph B37 describes indicators that an entity controls the specified good or service before it is transferred to a customer and therefore acts as the principal. Based on this assessment it was concluded that Playtech is acting as an agent under the B2B licensee fee stream due to the three indicators under B37 which are not satisfied as follows: \u2022 Playtech is responsible in fulfilling the contract to the operator, principally in respect of the software solutions, and not to the end customer which is the responsibility of the operator; \u2022 there is no inventory risk as Playtech does not have the ability to direct the use of, and obtain substantially all of the remaining benefits from, the good or service before it is transferred to the end customer; and \u2022 Playtech does not have any discretion in establishing prices set by the operator to third parties. Based on the above it was determined that the Group was acting as agent and revenue is recognised as the net amount of B2B licensee fees received. The majority of this B2B revenue is recognised when the gaming or betting activity used as the basis for the revenue share calculation takes place, and furthermore is only recognised when collection is virtually certain with a legally enforceable right to collect. The Group applied judgement in determining whether price concessions in respect of ongoing negotiations and contract modifications should be accounted for as variable consideration in revenue. Once there is a valid expectation that the concession of the variable consideration is highly probable, the Group accounts for it under IFRS 15 paragraph 52. IFRS 15, paragraph 52 describes that in addition to the terms of the contract, the promised consideration is variable if either of the following circumstances exists: \u2022 The operator has a valid expectation arising from Playtech\u2019s customary business practices, published policies or specific statements that Playtech will accept an amount of consideration that is less than the price stated in the contract, that is, it is expected that Playtech will offer a price concession. Depending on the jurisdiction, industry or customer this offer may be referred to as a discount, rebate, refund or credit. \u2022 Other facts and circumstances indicate that Playtech\u2019s intention, when entering into the contract with the operator, is to offer a price concession to the operator. The Group has estimated the variable consideration based on the best estimates of future outcomes to determine the most likely amount of consideration to be received. Internally generated intangible assets The Group capitalises costs for product development projects. Expenditure on internally developed products is capitalised when it meets the following criteria: \u2022 adequate resources are available to complete and sell the product; \u2022 the Group is able to sell the product; \u2022 sale of the product will generate future economic benefits; and \u2022 expenditure on the project can be measured reliably. Initial capitalisation of cost is based on management\u2019s judgement that the technological and economic feasibility is confirmed, usually when product development has reached a defined milestone and future economic benefits are expected to be realised according to an established project management model. Following capitalisation, an assessment is performed in regard to project recoverability which is based on the actual return of the project. During the year, the Group capitalised \u20ac48.8 million for continuing and discontinued operation (2023: \u20ac56.7 million continuing and discontinued operations) and the carrying amount of capitalised development costs as at 31 December 2024 was \u20ac111.9 million for continuing operations (2023: \u20ac133.5 million including held for sale). Adjusted performance measures As noted in Note 5, paragraph U, the Group presents adjusted performance measures which differ from statutory measures due to exclusion of certain non- cash and one-off items from the actual results. The determination of whether these items should form part of the adjusted results is a matter of judgement as management assess whether these items meet the definition disclosed in Note 5 paragraph U. The items excluded from the adjusted measures are described in further detail in Note 10. Provision for risks and charges and potential liabilities The Group operates in a number of regulated markets and is subject to lawsuits and potential lawsuits regarding complex legal matters, which are subject to a different degree of uncertainty in different jurisdictions and under different laws. For all material ongoing and potential legal and regulatory claims against the Group, an assessment is performed to consider whether an obligation or possible obligation exists and to determine the probability of any potential outflow to determine whether a claim results in the recognition of a provision or disclosure of a contingent liability. The timing of payment of provisions is subject to uncertainty and may have an effect on the presentation of the provisions as current and non-current liabilities in the balance sheet. Expected timing of payment and classification of provision is determined by management based on the latest information available at the reporting date. See Note 28 for further details. Classification of equity call options Background In addition to the provision of software-related solutions as a B2B product, the Group also offers certain customers a form of offering (which includes software and related services) which is termed a \u201cstructured agreement\u201d. Structured agreements are customarily with customers that have a gaming licence and are retail/land-based operators that are looking to establish their online B2C businesses \u2013 these customers require initial support beyond the provision of the Group\u2019s standard B2B software technology. With this product offering, Playtech offers additional services to support the customer\u2019s B2C activities over and above the B2B software solution products. Playtech generates revenues from the structured agreements as follows: \u2022 B2B licensee fee income (as per Note 5D); and \u2022 revenue based on predefined revenue generated by each customer under each structured agreement which is typically capped at a percentage of the profit (also defined in each agreement) generated by the customer, which compensates Playtech for the additional services provided (additional B2B services fee as per Note 5D). Under these agreements, Playtech typically has a call option to acquire equity in the operating entities. If the call option is exercised by Playtech, the Group would no longer provide certain services (which generally include technical and general strategic support services) and would no longer receive the related additional B2B services fee. This mechanism is not designed as a control feature but mainly to protect Playtech\u2019s position should the customer be subject to an exit transaction. Playtech is therefore able to benefit from any value appreciation in the operation and could also potentially cease to provide the additional B2B services should it choose to do so dependent on the nature of the exit transaction. Judgement applied In respect of each of the structured agreements where the Group holds equity call options, management applies judgement to assess whether the Group has control or significant influence. For each of the Group\u2019s structured agreements an assessment was completed in Note 19 using the below guidance. The existence of control by an entity is evidenced if all of the below are met in accordance with IFRS 10 Consolidated Financial Statements, paragraph 7: \u2022 power over the investee; \u2022 exposure, or rights, to variable returns from its involvement with the investee; and \u2022 the ability to use its power over the investee to affect the amount of the investor\u2019s returns. In the cases where the Group assessed that it exercises control over these arrangements, then the company is consolidated in the Group\u2019s annual results in accordance with IFRS 10. The existence of significant influence by an entity is usually evidenced in one or more of the following ways in accordance with IAS 28 Investment in Associates and Joint Ventures, paragraph 6: \u2022 representation on the board of directors or equivalent governing body of the investee; \u2022 participation in policy-making processes, including participation in decisions about dividends or other distributions; \u2022 material transactions between the entity and its investee; \u2022 interchange of managerial personnel; or \u2022 provision of essential technical information. If the conclusion is that the Group has significant influence, the next consideration made is whether there is current access to net profits and losses of the underlying associate. This is determined by the exercise conditions of each relevant equity call option and in particular whether the options are exercisable at the end of each reporting period. If the option is exercisable then the investment is accounted for using the equity accounting method. However, in the cases where the company over which the Group has a current exercisable option generates profits, management made a judgement and concluded that Playtech\u2019s share of profits (were the option to be exercised) should not be recognised as it is unlikely that the profits will be realised as the existing shareholder has the right, and is entitled, to extract distributable profits. As such, management did not consider it appropriate to recognise any share of these profits. However, in the cases where the associate has generated losses, the Group\u2019s percentage share is recognised and deducted from the carrying value of the investment in associate. Management has made a further judgement that if the equity call option is not exercisable at the end of the reporting period, then the option is recorded at fair value as per IAS 28, paragraph 14 and recognised as a derivative financial asset as per IFRS 9 Financial Instruments. Furthermore, under some of these arrangements the Group has provided loan advances. In such instances a judgement was made as to whether these amounts form part of the Group\u2019s investment in the associate as per IAS 28, paragraph 38, with a key consideration being whether the Group expects settlement to occur in the foreseeable future. In the case where this is not expected and there is no set repayment term, then it is concluded that in substance these loans are extensions of the entity\u2019s investment in the associate and therefore would form part of the cost of the investment. Finally, the Group has certain agreements in relation to the provision of services by service providers in connection with certain of the Group\u2019s obligations under their various structured agreements. Under these arrangements, the service providers have certain rights to equity. In order for these rights to crystallise, the Group must first exercise the relevant option. A judgement was therefore made that no current liability exists under IAS 32, until the point when Playtech exercises the option. Classification of assets as held for sale and discontinued operations In applying the principles of asset held for sale and discontinued operations under IFRS 5, a significant degree of judgement is required. In order for an asset to be classified as held for sale, it must be available for immediate sale in its present condition and its sale must be highly probable at the reporting date. The meaning of \u201chighly probable\u201d is highly judgemental and therefore IFRS 5 Non-current Assets Held for Sale and Discontinued Operations sets out criteria for the sale to be considered as a highly probable as follows: \u2022 Management must be committed to a plan to sell the asset; \u2022 An active programme to find a buyer must be initiated; \u2022 The asset must be actively marketed for sale at a price that is reasonable to its current fair value; \u2022 The sale must be completed within one year from the date of classification; \u2022 Significant changes to be made to the plan must be unlikely. Similarly, in order for a relevant operation of assets held for sale to also be shown in discontinued operations, judgements will need to be made to assess whether the operation is a component of the Group\u2019s business for which the operations and cash flows can be clearly distinguished from the rest of the Group and which: \u2022 represents a separate major line of business or geographical area of operations; \u2022 is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations; or \u2022 is a subsidiary acquired exclusively with a view to resale. Snaitech CGU An announcement was made on 17 September 2024 that Playtech Services (Cyprus) Limited, a subsidiary of the Group, has entered into a definitive agreement for the sale of Snaitech B2C segment (through a sale of its immediate parent company) to Flutter Entertainment Holdings Ireland Limited, a subsidiary of Flutter Entertainment plc (\u201cFlutter\u201d), for a total enterprise value of \u20ac2,300 million in cash. Completion of the sale, which is subject to certain conditions including relevant antitrust, gaming and other regulatory authority approvals, is currently expected by Q2 2025. All the above criteria for held for sale and discontinued operations were met at the point of the announcement. Therefore, the Snaitech B2C segment has been presented as an asset held for sale and the results of the Snaitech B2C segment are included in discontinued operations, in a single line in the statement of comprehensive income. HAPPYBET During 2024 and following the announcement in relation to the Snaitech sale as outline above, the Group decided to also sell the HAPPYBET business. This was for various reasons, including the fact that it has been loss-making since initial acquisition, it uses the intellectual property of Snaitech, and the Snaitech management team overseeing the HAPPYBET operations will no longer be with the Group once the Snaitech sale completes. By the end of 2024, the Austrian side of the HAPPYBET business was shut down, and the Group commenced the sales process for the rest of the business. Therefore, in applying the above criteria, it was determined that the assets relating to the HAPPYBET business meet the definition of an asset held for sale at 31 December 2024. In making an assessment as to the lower of carrying amount and fair value less costs to sell, an impairment of \u20ac5.1 million was recorded. With respect to the classification as discontinued operations, HAPPYBET does not meet the criteria as its operations are not considered a separate line of business of the Group. Recognition of Playtech incentive arrangements Part of the proceeds from the expected disposal of the Snaitech CGU have been allocated as bonuses to Playtech\u2019s ongoing senior team to be used as a retention tool. The total amount of \u20ac100 million plus social security costs will be paid 60% on completion of the disposal and the payment of dividends, with the other 20% and 20% paid 12 and 24 months respectively post the completion of the transaction. Since this amount is funded from the Snaitech disposal, and payable over a definitive three-year period, it is not included in Adjusted EBITDA. The communication sent out to the senior team in relation to this bonus pre year end created a constructive obligation linked to IAS 19 Employee Benefits, paragraph 19 where a benefit is expected to be settled by virtue of the certainty the Group had that the transaction will complete. The bonus has therefore been accrued from the point the constructive obligation was created in 2024 to the point of expected payment post completion. Exercise of option in LSports In September 2024, the Group exercised its option in LSports, acquiring an additional 18%. Following the exercise of the option, the new shareholding is 49%, making the Group the largest shareholder in LSports. Under IFRS 10, paragraph 7, the Group does not have control over the investee by holding 49% because the remaining 51% shareholders form a consortium by virtue of being related, a position which has also been supported through a legal confirmation from LSports. Estimates and assumptions The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Impairment of non-financial assets Cash-generating units Impairment exists when the carrying value of an asset or cash-generating unit (CGU) exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. The value in use calculation is based on a discounted cash flow model (DCF). The cash flows are derived from the three-year budget, with CGU-specific assumptions for the subsequent two years. They do not include restructuring activities that the Group is not yet committed to or significant future investments that may enhance the performance of the assets of the CGU being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash inflows and the growth rates used in years four and five and for extrapolation purposes. These estimates are most relevant to goodwill and other intangibles with indefinite useful lives recognised by the Group. The key assumptions used to determine the recoverable amount of the different CGUs are disclosed and further explained in Note 18, including a sensitivity analysis for the CGUs that have lower headroom. Investment in associates In assessing impairment of investments in associates, management utilises various assumptions and estimates that include projections of future cash flows generated by the associate, determination of appropriate discount rates reflecting the risks associated with the investment, and consideration of market conditions relevant to the investee\u2019s industry. The Group exercises judgement in evaluating impairment indicators and determining the amount of impairment loss, if any. This involves assessing the recoverable amount of the investment based on available information and making decisions regarding the appropriateness of key assumptions used in impairment testing. Income taxes The Group is subject to income tax in several jurisdictions and significant judgement is required in determining the provision for income taxes. During the ordinary course of business, there are transactions and calculations for which the ultimate tax determination is uncertain. As a result, the Group recognises tax liabilities based on estimates of whether additional taxes and interest will be due. These tax liabilities are recognised when, despite the Group\u2019s belief that its tax return positions are supportable, the Group believes it is more likely than not that a taxation authority would not accept its filing position. In these cases, the Group records its tax balances based on either the most likely amount or the expected value, which weights multiple potential scenarios. The Group believes that its accruals for tax liabilities are adequate for all open audit years based on its assessment of many factors including past experience and interpretations of tax law. This assessment relies on estimates and assumptions and may involve a series of complex judgements about future events. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will impact income tax expense in the period in which such determination is made. Where management conclude that it is not probable that the taxation authority will accept an uncertain tax treatment, they calculate the effect of uncertainty in determining the related taxable profit (tax loss), tax bases, unused tax losses, unused tax credits or tax rates. The effect of uncertainty for each uncertain tax treatment is reflected by using the expected value \u2013 the sum of the probabilities and the weighted amounts in a range of possible outcomes. More details are included in Note 13. Deferred tax asset In evaluating the Group\u2019s ability to recover our deferred tax assets in the jurisdiction from which they arise, management considers all available positive and negative evidence, projected future taxable income, tax-planning strategies and results of recent operations. Deferred tax asset is recognised to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Judgement is required in determining the initial recognition and the subsequent carrying value of the deferred tax asset. Deferred tax asset is only able to be recognised to the extent that utilisation is considered probable. It is possible that a change in profit forecasts or risk factors could result in a material change to the income tax expense and deferred tax asset in future periods. Deferred tax asset in the UK As a result of the Group\u2019s internal restructuring in January 2021, the Group is entitled to UK tax deductions in respect of certain goodwill and intangible assets. A deferred tax asset was recognised as the tax base of the goodwill and intangible assets is in excess of the book value base of those assets. At the beginning of the period, the net recognised deferred tax asset amounted to \u20ac36.8 million. During the period, the Group released \u20ac36.8 million of this deferred tax asset as expected utilisation would fall outside the forecasting period and therefore there is not sufficient certainty that the Group would be able to generate taxable profits. At 31 December 2024 , the deferred tax asset recognised in respect of future tax deductions for goodwill and intangible assets is \u20acNil. A total of \u20ac57.0 million of deferred tax asset has not been recognised in respect of the benefit of future tax deductions related to the goodwill and intangible assets as there is not sufficient certainty of utilisation.
Deferred tax assets are reviewed at each reporting date. In considering their recoverability, the Group assesses the likelihood of their being recovered within
a reasonably foreseeable timeframe, which is broadly in line with our viability assessment and the cash flow forecasts period used in our CGU impairment
assessment. The Group updated its forecasts, following changes in assumptions made to the forecasts during 2024, due to certain changes in the current
period to the expected profit profile within its UK business unit that carries significant losses. This included the impact of the revised arrangements with Caliplay
(Note 6) and expected reductions in revenue from other sports licensees, which together also led to the full impairment of the Sports B2B CGU (Note 18) in the
current year. Furthermore, the recognition and settlement of the Playtech incentive arrangements as outlined above is also expected to increase the taxable
losses in the UK. This forms a change in accounting estimate and resulted in a reversal of \u20ac33.0 million in the current year of previously recognised deferred tax
assets in respect of UK tax losses brought forward and excess interest expense.
As at 31 December 2024, there is a deferred tax asset of \u20ac2.6 million in respect of UK tax losses and excess interest expense (2023: \u20ac35.6 million). Based on the
current forecasts, these losses will be fully utilised over the forecast period.
Remaining UK tax losses and excess interest expense have not been provided for representing an unrecognised deferred tax asset of \u20ac141.2 million
(2023: \u20ac40.3 million) as at 31 December 2024 as expected utilisation would fall outside the forecasting period and therefore there is not sufficient certainty they
will be recovered.
Any future changes in the tax law or the structure of the Group could have a significant effect on the use of the tax deductions, including the period over which
the deductions can be utilised.
Deferred tax assets in Italy
The Group has utilised its tax losses in Italy and therefore has \u20acNil deferred tax asset as at 31 December 2024 (2023: \u20ac2.1 million) in respect of tax losses in Italy.
Impairment of financial assets
The Group undertook a review of trade receivables and other financial assets, as applicable, and their expected credit losses (ECLs). The review considered
the macroeconomic outlook, customer credit quality, exposure at default, and effect of payment deferral options as at the reporting date. The ECL methodology
and definition of default remained consistent with prior periods. The model inputs, including forward-looking information, scenarios and associated weightings,
together with the determination of the staging of exposures, were revised. The Group\u2019s financial assets consist of trade and loans receivables and cash and
cash equivalents. ECL on cash balances was considered and calculated by reference to Moody\u2019s credit ratings for each financial institution, while ECL on trade
and loans receivables was based on past default experience and an assessment of the future economic environment. More details are included in Note 35.
The contracts relating to two Asia distributors were terminated in 2024 in conjunction with Playtech entering into an agreement in September 2024 with a new
distributor in Asia for a period of five years. With respect to the two terminated contracts an additional provision was made in the year ended 31 December 2024
against receivables of \u20ac12.4 million (2023: \u20ac3.4 million). The provision is part of \u20ac10.6 million of impairment of financial assets in the statement of comprehensive
income as at 31 December 2024. The total provision at 31 December 2024 is \u20ac38.7 million, which represents a 100% provision of all unpaid balances at year end.
Under the termination agreements, a total amount of \u20ac24.0 million is payable by the Group, of which \u20ac10.2 million was paid in 2024 and the remaining amount
payable by 31 December 2025. Management concluded that since the payments are not in relation to Playtech\u2019s performance under the contract\u2019s pre-
termination, they represented a separate transaction and as such disclosed an expense rather than taking a reduction against revenue. Furthermore, some
of the termination payments to be made in 2025 relate to a non-compete period to 31 December 2025, and therefore would ordinarily be capitalised as an
intangible and amortised over the period. However, a judgement was made that both the length and enforceability of the non-compete clause does not meet
the high threshold of asset recognition and as such expensed the full amount in 2024. As per Note 10, these costs are not considered an ongoing cost of
operations and have therefore been excluded from Adjusted EBITDA.
Sun Bingo agreement
Background
The News UK contract commenced in 2016 and was originally set for a five-year period to June 2021. Both parties have obligations under the contract, which
includes News UK providing access to brand and related materials as well as other services. Playtech has the primary responsibility for the operation of the
arrangement, but both parties have contractual responsibilities.
The related brands are used in Playtech\u2019s B2C service, where the Group acts as the principal, meaning that in the Group\u2019s consolidated statement of
comprehensive income:
\u2022 revenue from B2C customers is recognised as income; and
\u2022 the fees paid to News UK for use of the brands are an expense as they are effectively a supplier.
In the original contract, the fees payable were subject to a predetermined annual minimum guarantee (MG) which Playtech had to pay to News UK.
During the period from 2016 to 2018, performance was not in line with expectations, and as such, the MG made this operation significantly loss-making for the Group. This opened the negotiations with News UK for certain amendments to the contract, which were agreed and signed in February 2019 as follows: \u2022 the MG was still payable up until the end of the original contract period, being June 2021, with no MG payable after that; and \u2022 the contract term was extended to permit Playtech access to News UK\u2019s brands and other related materials and other services, for a longer period, to allow Playtech to recover its MG payments and to make a commercial return as was always envisaged. The term of the contract was extended to end at the earlier of: a) five years from the date when Playtech had fully recovered all MG payments made; or b) 15 years from the renegotiation (i.e. June 2036). Judgements made on recognition and measurement The annual MG paid to News UK was recognised in Playtech\u2019s profit or loss up until February 2019, essentially being expensed over the original term of the contract. However, from the point at which the amended contract became effective, the timing of the MG paid (being based on the original terms) no longer reflected the period over which Playtech was consuming the use of the News UK brands and other related services from them. As such, a prepayment was recorded to reflect the amount that had been paid, as at each period end, which related to the future use of the brands and services. IFRS do not have a specific standard that deals with accounting for prepayments; however, the asset recognised as a prepayment is in accordance with IAS 1 Presentation of Financial Statements. At the commencement of the agreement and on renegotiation of the contract, the Directors considered whether the nature of the arrangement gave rise to any intangible assets. At contract inception the Directors concluded that there were no such assets to recognise as both parties had contractual obligations under the agreement to deliver services, as explained above. Post the contract renegotiation, the amounts to be paid in the remainder of the initial period were considered to be advanced payments in respect of amounts to be earned by News UK over the remainder of the extended contract period. Consequently, the Directors did not believe that there was a fundamental change in the nature of the arrangements and it was considered most appropriate to categorise the amounts paid as operating expense prepayments. As noted above, the term of this renegotiated contract is dependent on the future profitability of the contract, and it was expected that the future profitability would mean the contract would finish before the end of the fixed term period. For this reason, it was considered appropriate that the prepayment recognised should be released to the profit or loss in line with this expected profitability, rather than on a straight-line basis. The amounts held in non-current and current assets of \u20ac56.2 million (2023: \u20ac58.7 million) and \u20ac4.5 million (2023: \u20ac4.4 million) in Notes 20 and 22, respectively, are the differences between the MG actually paid to News UK from February 2019 to June 2021 and the amounts recognised in the Group\u2019s profit or loss from February 2019 to December 2024. As with any budgeting process, there is always a risk that the plan may not be realised. This risk increases the longer the period for which the budget covers and in this instance the period is potentially up to 12 years from 31 December 2024. When producing the budget, management applies reasonable assumptions based on known factors, but sometimes and outside of management\u2019s control, these factors may vary. However, management also reviews these forecasts at each reporting period and more regularly internally and adjusts the expense released accordingly. Based on the most recent forecasts and current profitability and the fact that the Group had been running the operation since 2016 and therefore has significant experience of the level of profitability that can be derived from the operation, it is confident that the performance of the business will allow the full recovery of this asset, before the contract ends. Calculation of legal provisions The Group ascertains a liability in the presence of legal disputes or ongoing lawsuits when it believes it is probable that a financial outlay will take place and when the amount of the losses can be reasonably estimated. The Group is subject to lawsuits regarding complex legal problems, which are subject to a differing degree of uncertainty (also due to a complex legislative framework), including the facts and the circumstances inherent to each case, the jurisdiction and the different laws applicable. Given the uncertainties inherent to these problems, it is difficult to predict with certainty the outlay which will derive from these disputes and it is therefore possible that the value of the provisions for legal proceedings and disputes may vary depending on future developments in the proceedings underway. The Group monitors the status of the disputes underway and consults with its legal advisers and experts on legal and tax-related matters. More details are included in Note 28. Galera loan recovery As per Note 19A, the total outstanding loan amount from Ocean 88 at 31 December 2024 was \u20ac71.8 million (2023: \u20ac48.8 million). Based on the recoverability assessment performed, it was deemed that these loans will be repaid and are therefore recoverable. However, an additional ECL percentage of 5% was recorded at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation within a country. This includes risks related to system integration, user experience and compliance monitoring, which could result in the loss of players due to operational disruptions, penalties, and loss of licenses for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023: \u20ac2.0 million). Measurement of fair values of equity investments and equity call options The Group\u2019s equity investments and, where applicable (based on the judgements applied above), equity call options held by the Group, are measured at fair value for financial reporting purposes. The Group has an established control framework with respect to the measurement of fair value. In estimating the fair value of an asset and liability, the Group uses market-observable data to the extent it is available. Where Level 1 inputs are not available, the Group engages third-party qualified valuers to assist in performing the valuation. The Group works closely with the qualified valuers to establish the appropriate valuation techniques and inputs to the model. As mentioned in Note 19, the Group has: \u2022 investments in listed securities where the fair values of these equity shares are determined by reference to published price quotations in an active market; \u2022 equity investments in entities that are not listed, accounted at fair value through profit or loss under IFRS 9; and \u2022 derivative financial assets (call options in instruments containing potential voting rights), which are accounted at fair value through profit or loss under IFRS 9. The fair values of the equity investments that are not listed, and of the derivative financial assets, rely on non-observable inputs that require a higher level of management judgement to calculate a fair value than those based wholly on observable inputs. Valuation techniques used to calculate fair values include comparisons with similar financial instruments for which market observable prices exist, DCF analysis and other valuation techniques commonly used by market participants. Upon the use of DCF method, the Group assumes that the expected cash flows are based on the EBITDA. The Group only uses models with unobservable inputs for the valuation of certain unquoted equity investments. In these cases, estimates are made to reflect uncertainties in fair values resulting from a lack of market data inputs; for example, as a result of illiquidity in the market. Inputs into valuations based on unobservable data are inherently uncertain because there is little or no current market data available from which to determine the level at which an arm\u2019s length transaction would occur under normal business conditions. Unobservable inputs are determined based on the best information available. Further details on the fair value of assets are disclosed in Note 19. The following table shows the carrying amount and fair value of non-current assets, as disclosed in Note 19, including their levels in the fair value hierarchy.
Carrying
amount
Fair value
2024 Level 1 Level 2 Level 3
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Non-current assets
Other investments (Note 19B)
152.1
11.1
\u2014
141.0
Derivative financial assets (Note 19C)
895.0
\u2014
\u2014
895.0
1,047.1
11.1
\u2014
1,036.0
Carrying
amount
Fair value
2023 Level 1 Level 2 Level 3
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Non-current assets
Other investments (Note 19B)
92.8
15.8
\u2014
77.0
Derivative financial assets (Note 19C)
827.8
\u2014
\u2014
827.8
920.6
15.8
\u2014
904.8
", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-623": { "value": "
Note 7 \u2013 Segment information
The Group\u2019s reportable segments are strategic business units that offer different products and services.
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating
decision maker has been identified as the Board including the Chief Executive Officer and the Chief Financial Officer.
The operating segments identified are:
\u2022 B2B: Providing technology to gambling operators globally through a revenue share model and, in certain agreements, taking a higher share in exchange for
additional services;
\u2022 B2C \u2013 Snaitech (discontinued operations): Acting directly as an operator in Italy and generating revenues from online gambling, gaming machines and retail
betting;
\u2022 B2C \u2013 Sun Bingo and Other B2C: Acting directly as an operator in the UK market and generating revenues from online gambling;
\u2022 B2C \u2013 HAPPYBET: Acting directly as an operator in Germany (previously also Austria but operations were shut down in 2024) and generating revenues
from online gambling and retail betting.
The Group-wide profit measure is Adjusted EBITDA (see Note 10).
Sun Bingo Total Snaitech \u2013
and Other Total B2C \u2013 Inter- continuing discontinued Inter- Total
Ye r ended B2B B2C HAPPYBET continuing company operations operations company Group
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Revenue
754.3
78.9
18.9
97.8
(4.1)
848.0
956.1
(12.6)
1,791.5
Adjusted EBITDA
222.0
4.5
(11.8)
(7.3)
\u2014
214.7
265.7
\u2014
480.4
Sun Bingo Total
and Other continuing
Year ended B2B B2C operations Held for sale Total Group
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Total assets
2,126.4
105.1
2,231.5
1,066.4
3,297.9
Total liabilities
951.5
26.1
977.6
505.2
1,482.8
Sun Bingo Inter- Total Snaitech \u2013
and Other Total B2C \u2013 company continuing discontinued Inter-
Year ended B2B B2C HAPPYBET continuing B2C operations operations company Total Group
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Revenue
684.1
73.4
18.2
91.6
(3.8)
771.9
946.6
(11.8)
1,706.7
Adjusted EBITDA
182.0
6.0
(11.8)
(5.8)
\u2014
176.2
256.1
\u2014
432.3
Sun Bingo
and Other Total
Year ended B2B B2C HAPPYBET Snaitech Total B2C Continuing Held for sale Total Group
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Total assets
2 ,117.7
90.6
17.3
1,096.2
1,204.1
3,321.8
19.3
3,341.1
Total liabilities
1,018.6
26.0
5.6
468.4
500.0
1,518.6
1.0
1,519.6
Geographical analysis of non-current assets
The Group\u2019s information about its non-current assets by location is detailed below:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Italy
18.3
750.3
UK
299.1
332.9
Austria
8.9
54.8
Alderney
61.9
63.9
Sweden
7.8
48.7
Gibraltar
22.3
27.8
Cyprus
15.2
19.4
Latvia
16.3
17.5
Australia
12.4
17.3
Ukraine
2.2
4.0
Estonia
7.5
8.6
British Virgin Islands
6.8
7.5
Rest of World
101.0
76.6
579.7
1,429.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-667": { "value": "Geographical analysis of non-current assets The Group\u2019s information about its non-current assets by location is detailed below:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Italy
18.3
750.3
UK
299.1
332.9
Austria
8.9
54.8
Alderney
61.9
63.9
Sweden
7.8
48.7
Gibraltar
22.3
27.8
Cyprus
15.2
19.4
Latvia
16.3
17.5
Australia
12.4
17.3
Ukraine
2.2
4.0
Estonia
7.5
8.6
British Virgin Islands
6.8
7.5
Rest of World
101.0
76.6
579.7
1,429.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-624": { "value": "
Note 8 \u2013 Discontinued operations
As identified in Note 24, the Group has treated the Snaitech B2C segment as discontinued in these results.
The results of the Snaitech B2C segment for the year are presented below:
2024
2023
Actual Adjusted Actual Adjusted
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Revenue
956.1
956.1
946.6
946.6
Distribution costs before depreciation and amortisation
(655.8)
(655.8)
(658.2)
(657.5)
Administrative expenses before depreciation and amortisation
(69.7)
(35.1)
(33.8)
(32.9)
Reversal/(Impairment) of financial assets
0.5
0.5
(0.1)
(0.1)
EBITDA
231.1
265.7
254.5
256.1
Depreciation and amortization
(75.7)
(52.9)
(86.7)
(56.1)
Loss on disposal of property, plant and equipment and intangible assets
\u2014
\u2014
(0.2)
(0.2)
Finance income
8.0
8.0
2.1
1.9
Finance costs
(5.1)
(5.1)
(4.4)
(4.4)
Share of (loss)/profit from associates (Note 19A)
(0.1)
(0.1)
0.1
0.1
Profit before taxation
158.2
215.6
165.4
197.4
Income tax expense
(45.9)
(50.9)
(48.2)
(54.8)
Profit from discontinued operations, net of tax
112.3
164.7
117.2
142.6
The following table provides a full reconciliation between adjusted and actual results from discontinued operations:
Profit from
discontinued
operations
attributable to
the owners of
Revenue EBITDA the Company
For the year ended 31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Reported as actual
956.1
231.1
112.3
Employee stock option expenses
\u2014
0.6
0.6
Professional fees
\u2014
0.9
0.9
SNAI cash bonus
1
33.1
33.1
Amortisation of intangibles on acquisitions
\u2014
\u2014
22.8
Deferred tax on acquisitions
\u2014
\u2014
(5.0)
Adjusted measure
956.1
265.7
164.7
1
Cash bonus pool that will be paid to the Snaitech senior management team on completion of the SNAI disposal.
Profit from
discontinued
operations
attributable to
the owners of
Revenue EBITDA the Company
For the year ended 31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Reported as actual
946.6
254.5
117.2
Employee stock option expenses
\u2014
0.6
0.6
Professional fees
\u2014
1.0
1.0
Fair value changes and finance cost on contingent consideration
\u2014
\u2014
(0.2)
Amortisation of intangibles on acquisitions
\u2014
\u2014
30.6
Deferred tax on acquisitions
\u2014
\u2014
(6.6)
Adjusted measure
946.6
256.1
142.6
Earnings per share from discontinued operations
2024
2023
Actual
Adjusted
Actual
Adjusted
Basic (cents)
36.8
54.0
38.6
47.0
Diluted (cents)
36.8
52.9
38.6
45.6
The net cash flows incurred by the Snaitech segment in the period are as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Operating
243.9
239.0
Investing
(76.6)
(57.6)
Financing
(7.5)
(6.3)
Net cash inflow
159.8
175.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-668": { "value": "Note 8 \u2013 Discontinued operations As identified in Note 24, the Group has treated the Snaitech B2C segment as discontinued in these results. The results of the Snaitech B2C segment for the year are presented below:
2024
2023
Actual Adjusted Actual Adjusted
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Revenue
956.1
956.1
946.6
946.6
Distribution costs before depreciation and amortisation
(655.8)
(655.8)
(658.2)
(657.5)
Administrative expenses before depreciation and amortisation
(69.7)
(35.1)
(33.8)
(32.9)
Reversal/(Impairment) of financial assets
0.5
0.5
(0.1)
(0.1)
EBITDA
231.1
265.7
254.5
256.1
Depreciation and amortization
(75.7)
(52.9)
(86.7)
(56.1)
Loss on disposal of property, plant and equipment and intangible assets
\u2014
\u2014
(0.2)
(0.2)
Finance income
8.0
8.0
2.1
1.9
Finance costs
(5.1)
(5.1)
(4.4)
(4.4)
Share of (loss)/profit from associates (Note 19A)
(0.1)
(0.1)
0.1
0.1
Profit before taxation
158.2
215.6
165.4
197.4
Income tax expense
(45.9)
(50.9)
(48.2)
(54.8)
Profit from discontinued operations, net of tax
112.3
164.7
117.2
142.6
The following table provides a full reconciliation between adjusted and actual results from discontinued operations:
Profit from
discontinued
operations
attributable to
the owners of
Revenue EBITDA the Company
For the year ended 31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Reported as actual
956.1
231.1
112.3
Employee stock option expenses
\u2014
0.6
0.6
Professional fees
\u2014
0.9
0.9
SNAI cash bonus
1
33.1
33.1
Amortisation of intangibles on acquisitions
\u2014
\u2014
22.8
Deferred tax on acquisitions
\u2014
\u2014
(5.0)
Adjusted measure
956.1
265.7
164.7
1 Cash bonus pool that will be paid to the Snaitech senior management team on completion of the SNAI disposal.
Profit from
discontinued
operations
attributable to
the owners of
Revenue EBITDA the Company
For the year ended 31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Reported as actual
946.6
254.5
117.2
Employee stock option expenses
\u2014
0.6
0.6
Professional fees
\u2014
1.0
1.0
Fair value changes and finance cost on contingent consideration
\u2014
\u2014
(0.2)
Amortisation of intangibles on acquisitions
\u2014
\u2014
30.6
Deferred tax on acquisitions
\u2014
\u2014
(6.6)
Adjusted measure
946.6
256.1
142.6
Earnings per share from discontinued operations
2024
2023
Actual
Adjusted
Actual
Adjusted
Basic (cents)
36.8
54.0
38.6
47.0
Diluted (cents)
36.8
52.9
38.6
45.6
The net cash flows incurred by the Snaitech segment in the period are as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Operating
243.9
239.0
Investing
(76.6)
(57.6)
Financing
(7.5)
(6.3)
Net cash inflow
159.8
175.1
Note 24 \u2013 Assets held for sale
2024 2023
\u20ac\u2019m \u20ac\u2019m
Assets
A. Property, plant and equipment
\u2014
19.3
B. Snaitech B2C CGU
1,058.6
\u2014
C. HAPPYBET CGU
2.8
\u2014
D. Poker Strategy
5.0
\u2014
1,066.4
19.3
A. During 2021, the Group entered into a binding agreement for the disposal of a real estate area in Milan for a total consideration of \u20ac20.0 million. Accordingly, the real estate was classified as held for sale. Of the total consideration, \u20ac1.0 million was received during the year ended 31 December 2021. The advance received was classified as part of the liabilities directly associated with assets classified as held for sale. The sale has been finalised but the disposal is expected to complete in H1 2025 with the movement of the trot track from La Maura area to San Siro (previously it was expected that the sale would be completed during 2024). The balance at 31 December 2024 is now included in the Snaitech B2C CGU as part of the overall asset held for sale group. B. On 17 September 2024, the Group entered into an agreement for the disposal of the Snaitech B2C segment for a cash consideration of \u20ac2,300 million. Completion of the sale, which is subject to certain conditions including relevant antitrust, gaming and other regulatory authority approvals, is currently expected by Q2 2025. In this respect, the results of this CGU are presented as discontinued operations in the consolidated statement of profit or loss and the comparatives have been restated to show the discontinued operation separately from the continuing operations. The total major class of assets and liabilities of Snaitech B2C CGU classified as held for sale as at 31 December 2024, are as follows:
\u20ac\u2019m
Assets
Property, plant and equipment
288.8
Right of use assets
32.4
Intangible assets
409.8
Investment in associates
1.6
Trade receivables
81.1
Inventory
0.6
Other receivables
63.2
Cash and cash equivalents
181.1
Assets classified as held for sale
1,058.6
Liabilities
Deferred tax liability
143.6
Trade payables
25.8
Progressive operators\u2019 jackpots and security deposits
12.9
Client funds
33.2
Income tax payable
43.3
Gaming and other taxes payable
106.0
Lease liability
34.5
Deferred revenues
0.9
Contingent consideration
2.0
Provisions for risks and charges
8.2
Other payables
91.5
Liabilities directly associated with the asset classified as held for sale 501.9
C. The total major class of assets and liabilities of HAPPYBET CGU classified as held for sale as at 31 December 2024, are as follows:
\u20ac\u2019m
Assets
Trade receivables and other receivables
2.3
Cash and cash equivalents
4.8
Provision against assets held for sale
(4.3)
Assets classified as held for sale
2.8
Liabilities
Trade payables
0.4
Progressive operators\u2019 jackpots and security deposits
0.2
Client funds
0.5
Gaming and other taxes payable
0.3
Lease liability
0.2
Provisions for risks and charges
0.5
Other payables
0.7
Liabilities directly associated with the asset classified as held for sale 2.8
D. By the end of the year, the Group was in discussion for the sale of the business and assets comprising PokerStrategy.com. The negotiations as at 31 December 2024 were at an advance stage and close to the finalisation of the agreement and at that point, it was expected to complete beginning of 2025. In this respect, the assets and liabilities of PokerStrategy.com were classified as held for sale. Based on the agreement, the consideration for the transfer of the business and assets is $6.1 million (\u20ac5.9 million), out of which $0.5 million (\u20ac0.5 million) was received before the end of the year by a way of a non-refundable deposit which was classified as part of the liabilities directly associated with assets shown as held for sale. The agreement was finalised in January 2025, with an estimated profit on disposal of \u20ac0.9 million, which will be recognised in the year ending 31 December 2025. ", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-625": { "value": "
Note 9 \u2013 Revenue from contracts with customers
The Group has disaggregated revenue into various categories in the following tables which is intended to:
\u2022 depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by recognition date; and
\u2022 enable users to understand the relationship with revenue segment information provided in the segmental information note.
Revenue analysis by geographical location of licensee, product type and regulated vs unregulated by
geographical major markets
The revenues from B2B (consisting of licensee fee, fixed-fee income, revenue received from the sale of hardware, cost-based revenue and additional B2B
services fee) and B2C are described in Note 5D.
Upon signing a software licence agreement with a new licensee, the Group verifies its gambling licence (jurisdiction) and registers it accordingly to the Group\u2019s
database. The table below shows the revenues generated from the jurisdictions of the licensee.
Playtech has disclosed jurisdictions with revenue greater than 10% of the total Group revenue separately and categorised the remaining revenue by wider
jurisdictions, being Rest of Europe, Latin America (LATAM) and Rest of World.
For the year ended 31 December 2024
Sun Bingo Total Total Snaitech-
Primary and Other B2C Inter- Continuing discontinued Inter- Total
geographic B2B B2C HAPPYBET Continuing company operations operations company Group
markets \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Italy
41.6
\u2014
\u2014
\u2014
\u2014
41.6
954.9
(11.4)
985.1
Mexico
189.9
\u2014
\u2014
\u2014
\u2014
189.9
\u2014
\u2014
189.9
UK
137.3
78.9
\u2014
78.9
(4.1)
212.1
\u2014
\u2014
212.1
Rest of Europe
232.8
\u2014
18.9
18.9
\u2014
251.7
1.2
(1.2)
251.7
LATAM
79.2
\u2014
\u2014
\u2014
\u2014
79.2
\u2014
\u2014
79.2
Rest of World
73.5
\u2014
\u2014
\u2014
\u2014
73.5
\u2014
\u2014
73.5
754.3
78.9
18.9
97.8
(4.1)
848.0
956.1
(12.6)
1,791.5
B2B B2C Intercompany Tot al
Product type \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
B2B licensee fee
511.5
\u2014
\u2014
511.5
B2B fixed-fee income
65.6
\u2014
\u2014
65.6
B2B cost-based revenue
76.2
\u2014
\u2014
76.2
B2B revenue received from the sale of hardware
9.7
\u2014
\u2014
9.7
Additional B2B services fee
1
91.3
\u2014
\u2014
91.3
Total B2B
754.3
\u2014
\u2014
754.3
Sun Bingo and Other B2C
\u2014
78.9
(4.1)
74.8
HAPPYBET
\u2014
18.9
\u2014
18.9
Total B2C
\u2014
97.8
(4.1)
93.7
Total from continued operations
754.3
97.8
(4.1)
848.0
Snaitech \u2013 Snaitech- discontinued operations
\u2014
956.1
(12.6)
943.5
Total Group
754.3
1,053.9
(16.7)
1,791.5
2024
\u20ac\u2019m
Regulated \u2013 Americas
\u2013 US and Canada
29.8
\u2013 Latin America
221.8
Regulated \u2013 Europe (excluding UK)
198.7
Regulated \u2013 UK
136.2
Regulated \u2013 Rest of World
11.9
Total regulated B2B revenue
598.4
Unregulated
155.9
Total B2B revenue 754.3
For the year ended 31 December 2023
Sun Bingo Total Total Snaitech-
Primary and Other B2C Inter- Continuing discontinued Inter- Total
geographic B2B B2C HAPPYBET Continuing company operations operations company Group
markets \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Italy
36.9
\u2014
\u2014
\u2014
\u2014
36.9
945.4
(10.6)
971.7
Mexico
183.0
\u2014
\u2014
\u2014
\u2014
183.0
\u2014
\u2014
183.0
UK
127.0
73.4
\u2014
73.4
(3.8)
196.6
\u2014
\u2014
196.6
Rest of Europe
232.4
\u2014
18.2
18.2
\u2014
250.6
1.2
(1.2)
250.6
LATAM
44.8
\u2014
\u2014
\u2014
\u2014
44.8
\u2014
\u2014
44.8
Rest of World
60.0
\u2014
\u2014
\u2014
\u2014
60.0
\u2014
\u2014
60.0
684.1
73.4
18.2
91.6
(3.8)
771.9
946.6
(11.8)
1,706.7
B2B B2C Intercompany Tot al
Product type \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
B2B licensee fee
467.2
\u2014
\u2014
467.2
B2B fixed-fee income
32.8
\u2014
\u2014
32.8
B2B cost-based revenue
57.4
\u2014
\u2014
57.4
B2B revenue received from the sale of hardware
13.8
\u2014
\u2014
13.8
Additional B2B services fee
1
112.9
\u2014
\u2014
112.9
Total B2B
684.1
\u2014
\u2014
684.1
Sun Bingo and Other B2C
\u2014
73.4
(3.8)
69.6
HAPPYBET
\u2014
18.2
\u2014
18.2
Total B2C
\u2014
91.6
(3.8)
87.8
Total from continued operations
684.1
91.6
(3.8)
771.9
Snaitech \u2013 discontinued operations
\u2014
946.6
(11.8)
934.8
Total Group
684.1
1,038.2
(15.6)
1,706.7
2023
\u20ac\u2019m
Regulated \u2013 Americas
\u2013 US and Canada
13.2
\u2013 Latin America
198.7
Regulated \u2013 Europe (excluding UK)
200.1
Regulated \u2013 UK
126.1
Regulated \u2013 Rest of World
7.0
Total regulated B2B revenue
545.1
Unregulated
139.0
Total B2B revenue 684.1
1 The additional B2B services fee includes \u20ac80.6 million from Caliplay (2023: \u20ac111.7 million), which as per Note 19C will cease following completion of the revised arrangements. There were no changes in the Group\u2019s revenue measurement policies and procedures in 2024 and 2023. The vast majority of the Group\u2019s B2B contracts are for the delivery of services within the next 12 months. For the year ended 31 December 2024, Playtech recognised revenue from a single customer totalling approximately 20.6% of the Group\u2019s total continuing revenue (2023: a single customer totalling approximately 23.1%). The revenue with a single customer amounting to 20.6% of total revenue of the Group is under B2B operating segment and is attributed from Mexico in both years. The Group\u2019s contract liabilities, in other words deferred income, primarily include advance payment for hardware and services and also include certain fixed fees paid by the licensee in the beginning of the contract. Deferred income as at 31 December 2024 was \u20ac6.9 million (2023: \u20ac6.2 million).
The movement in contract liabilities during the year was as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January
6.2
6.0
Recognised during the year
10.9
8.0
Realised in profit or loss
(9.3)
(7.8)
Reclassified to held for sale (Note 24)
(0.9)
\u2014
Balance at 31 December
6.9
6.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-669": { "value": "Note 9 \u2013 Revenue from contracts with customers The Group has disaggregated revenue into various categories in the following tables which is intended to: \u2022 depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by recognition date; and \u2022 enable users to understand the relationship with revenue segment information provided in the segmental information note. Revenue analysis by geographical location of licensee, product type and regulated vs unregulated by geographical major markets The revenues from B2B (consisting of licensee fee, fixed-fee income, revenue received from the sale of hardware, cost-based revenue and additional B2B services fee) and B2C are described in Note 5D. Upon signing a software licence agreement with a new licensee, the Group verifies its gambling licence (jurisdiction) and registers it accordingly to the Group\u2019s database. The table below shows the revenues generated from the jurisdictions of the licensee. Playtech has disclosed jurisdictions with revenue greater than 10% of the total Group revenue separately and categorised the remaining revenue by wider jurisdictions, being Rest of Europe, Latin America (LATAM) and Rest of World. For the year ended 31 December 2024
Sun Bingo Total Total Snaitech-
Primary and Other B2C Inter- Continuing discontinued Inter- Total
geographic B2B B2C HAPPYBET Continuing company operations operations company Group
markets \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Italy
41.6
\u2014
\u2014
\u2014
\u2014
41.6
954.9
(11.4)
985.1
Mexico
189.9
\u2014
\u2014
\u2014
\u2014
189.9
\u2014
\u2014
189.9
UK
137.3
78.9
\u2014
78.9
(4.1)
212.1
\u2014
\u2014
212.1
Rest of Europe
232.8
\u2014
18.9
18.9
\u2014
251.7
1.2
(1.2)
251.7
LATAM
79.2
\u2014
\u2014
\u2014
\u2014
79.2
\u2014
\u2014
79.2
Rest of World
73.5
\u2014
\u2014
\u2014
\u2014
73.5
\u2014
\u2014
73.5
754.3
78.9
18.9
97.8
(4.1)
848.0
956.1
(12.6)
1,791.5
B2B B2C Intercompany Tot al
Product type \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
B2B licensee fee
511.5
\u2014
\u2014
511.5
B2B fixed-fee income
65.6
\u2014
\u2014
65.6
B2B cost-based revenue
76.2
\u2014
\u2014
76.2
B2B revenue received from the sale of hardware
9.7
\u2014
\u2014
9.7
Additional B2B services fee
1
91.3
\u2014
\u2014
91.3
Total B2B
754.3
\u2014
\u2014
754.3
Sun Bingo and Other B2C
\u2014
78.9
(4.1)
74.8
HAPPYBET
\u2014
18.9
\u2014
18.9
Total B2C
\u2014
97.8
(4.1)
93.7
Total from continued operations
754.3
97.8
(4.1)
848.0
Snaitech \u2013 Snaitech- discontinued operations
\u2014
956.1
(12.6)
943.5
Total Group
754.3
1,053.9
(16.7)
1,791.5
2024
\u20ac\u2019m
Regulated \u2013 Americas
\u2013 US and Canada
29.8
\u2013 Latin America
221.8
Regulated \u2013 Europe (excluding UK)
198.7
Regulated \u2013 UK
136.2
Regulated \u2013 Rest of World
11.9
Total regulated B2B revenue
598.4
Unregulated
155.9
Total B2B revenue 754.3
For the year ended 31 December 2023
Sun Bingo Total Total Snaitech-
Primary and Other B2C Inter- Continuing discontinued Inter- Total
geographic B2B B2C HAPPYBET Continuing company operations operations company Group
markets \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Italy
36.9
\u2014
\u2014
\u2014
\u2014
36.9
945.4
(10.6)
971.7
Mexico
183.0
\u2014
\u2014
\u2014
\u2014
183.0
\u2014
\u2014
183.0
UK
127.0
73.4
\u2014
73.4
(3.8)
196.6
\u2014
\u2014
196.6
Rest of Europe
232.4
\u2014
18.2
18.2
\u2014
250.6
1.2
(1.2)
250.6
LATAM
44.8
\u2014
\u2014
\u2014
\u2014
44.8
\u2014
\u2014
44.8
Rest of World
60.0
\u2014
\u2014
\u2014
\u2014
60.0
\u2014
\u2014
60.0
684.1
73.4
18.2
91.6
(3.8)
771.9
946.6
(11.8)
1,706.7
B2B B2C Intercompany Tot al
Product type \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
B2B licensee fee
467.2
\u2014
\u2014
467.2
B2B fixed-fee income
32.8
\u2014
\u2014
32.8
B2B cost-based revenue
57.4
\u2014
\u2014
57.4
B2B revenue received from the sale of hardware
13.8
\u2014
\u2014
13.8
Additional B2B services fee
1
112.9
\u2014
\u2014
112.9
Total B2B
684.1
\u2014
\u2014
684.1
Sun Bingo and Other B2C
\u2014
73.4
(3.8)
69.6
HAPPYBET
\u2014
18.2
\u2014
18.2
Total B2C
\u2014
91.6
(3.8)
87.8
Total from continued operations
684.1
91.6
(3.8)
771.9
Snaitech \u2013 discontinued operations
\u2014
946.6
(11.8)
934.8
Total Group
684.1
1,038.2
(15.6)
1,706.7
2023
\u20ac\u2019m
Regulated \u2013 Americas
\u2013 US and Canada
13.2
\u2013 Latin America
198.7
Regulated \u2013 Europe (excluding UK)
200.1
Regulated \u2013 UK
126.1
Regulated \u2013 Rest of World
7.0
Total regulated B2B revenue
545.1
Unregulated
139.0
Total B2B revenue 684.1
1
The additional B2B services fee includes \u20ac80.6 million from Caliplay (2023: \u20ac111.7 million), which as per Note 19C will cease following completion of the revised arrangements.
There were no changes in the Group\u2019s revenue measurement policies and procedures in 2024 and 2023. The vast majority of the Group\u2019s B2B contracts are
for the delivery of services within the next 12 months. For the year ended 31 December 2024, Playtech recognised revenue from a single customer totalling
approximately 20.6% of the Group\u2019s total continuing revenue (2023: a single customer totalling approximately 23.1%). The revenue with a single customer
amounting to 20.6% of total revenue of the Group is under B2B operating segment and is attributed from Mexico in both years.
The Group\u2019s contract liabilities, in other words deferred income, primarily include advance payment for hardware and services and also include certain fixed
fees paid by the licensee in the beginning of the contract. Deferred income as at 31 December 2024 was \u20ac6.9 million (2023: \u20ac6.2 million).
The movement in contract liabilities during the year was as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January
6.2
6.0
Recognised during the year
10.9
8.0
Realised in profit or loss
(9.3)
(7.8)
Reclassified to held for sale (Note 24)
(0.9)
\u2014
Balance at 31 December
6.9
6.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-626": { "value": "Note 10 \u2013 Adjusted items Management regularly uses adjusted financial measures internally to understand, manage and evaluate the business and make operating decisions. These adjusted measures are among the primary factors management uses in planning for and forecasting future periods. The primary adjusted financial measures are Adjusted EBITDA and Adjusted Profit, which management considers are relevant in understanding the Group\u2019s financial performance. The definitions of adjusted items and underlying adjusted results are disclosed in Note 5 paragraph U. As these are not a defined performance measure under IFRS, the Group\u2019s definition of adjusted items may not be comparable with similarly titled performance measures or disclosures by other entities. The following tables provide a full reconciliation between adjusted and actual results from continuing operations: (Loss)/Profit before (Loss)/Profit tax from from EBITDA \u2013 EBITDA \u2013 continuing continuing Revenue B2B B2C EBITDA operations operations For the year ended 31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m Reported as actual 848.0 135.0 (7.3) 127.7 (9.4) (136.5) Employee stock option expenses1 \u2014 4.7 \u2014 4.7 4.7 4.7 Professional fees2 \u2014 22.3 \u2014 22.3 22.3 22.3 Contract termination fees3 \u2014 24.0 \u2014 24.0 24.0 24.0 Playtech incentive arrangements4 \u2014 36.0 \u2014 36.0 36.0 36.0 Fair value changes and finance costs on contingent consideration5 \u2014 \u2014 \u2014 \u2014 3.8 3.8 Fair value changes of equity instruments6 \u2014 \u2014 \u2014 \u2014 (51.1) (51.1) Fair value change of derivative financial assets6 \u2014 \u2014 \u2014 \u2014 (61.5) (61.5) Amortisation of intangible assets on acquisitions7 \u2014 \u2014 \u2014 \u2014 6.2 6.2 Impairment of intangible assets, property plant and equipment and right of use assets8 \u2014 \u2014 \u2014 \u2014 120.2 120.2 Provision against asset held for sale \u2014 \u2014 \u2014 \u2014 4.3 4.3 Deferred tax on intangible assets on acquisitions7 \u2014 \u2014 \u2014 \u2014 \u2014 (8.0) Release of brought forward deferred tax asset9 \u2014 \u2014 \u2014 \u2014 \u2014 30.9 Release of brought forward deferred tax asset on Group restructuring10 \u2014 \u2014 \u2014 \u2014 \u2014 26.1 Tax on unrealised fair value changes of derivative financial assets11 \u2014 \u2014 \u2014 \u2014 \u2014 10.9 Deferred tax on unrealised fair value changes of equity investments12 \u2014 \u2014 \u2014 \u2014 \u2014 12.9 Deferred tax asset recognised in respect of refundable tax credit relating to prior years \u2014 \u2014 \u2014 \u2014 \u2014 (6.5) Income tax relating to prior years13 \u2014 \u2014 \u2014 \u2014 \u2014 19.8 Adjusted measure 848.0 222.0 (7.3) 214.7 99.5 58.5 1 Employee stock option expenses relate to non-cash expenses of the Group and differ from year to year based on share price and the number of options granted. 2 The vast majority of the professional fees relate to the Caliplay disputes (Note 6), disposal of Snaitech CGU, and tax advisory fees in relation to prior year income tax which has now been settled with the relevant authority (Note 13). These expenses are not considered ongoing costs of operations and therefore are excluded. 3 Following the early termination of certain contracts in Asia as disclosed in Note 6 the Group had to pay termination fees of \u20ac24.0 million. These expenses are not considered an ongoing cost of operations, are one-off in nature and therefore are excluded. Please refer to Note 6 for further information. 4 Part of the proceeds from the expected disposal of the Snaitech CGU have been allocated as bonuses to Playtech\u2019s ongoing senior team to be used as a retention tool. These bonuses are in addition to normal performance bonuses. The total amount of \u20ac100 million plus social security costs will be paid 60% on completion of the disposal and the payment of dividends, with the other 20% and 20% paid 12 and 24 months respectively post the completion of the transaction. Since this amount is funded from the Snaitech disposal, and payable over a definitive three-year period, it is not included in Adjusted EBITDA. 5 Fair value change and finance costs on contingent consideration mostly related to the acquisition of AUS GMTC. These expenses are not considered ongoing costs of operations and therefore are excluded. 6 Fair value changes of equity instruments and derivative financial assets. These are excluded from the results as they relate to unrealised profit/loss. 7 Amortisation and deferred tax on intangible assets acquired through business combinations of which \u20ac6.4 million relates to the release of deferred tax liability of impairment of acquired intangibles. Costs directly related to acquisitions are not considered ongoing costs of operations and therefore are excluded. 8 Impairment of intangible assets, property, plant and equipment and right of use assets mainly relates to the impairment of IGS CGU of \u20ac4.9 million, Sports B2B CGU \u20ac96.3 million and Quickspin \u20ac18.2 million. Refer to Note 18. 9 The reported tax expense has been adjusted for the derecognition of a deferred tax asset of \u20ac30.9 million relating to UK tax losses. This was adjusted because the losses in relation to the derecognised amount were generated over a number of years and therefore distorts the effective tax rate for the year. Refer to Notes 6, 13 and 31. 10 The reported tax expense has been adjusted for the derecognition of a deferred tax asset relating to the Group reorganisation in January 2021 of \u20ac26.1 million. Refer to Note 5. 11 This current tax charge of \u20ac10.9 million relates to unrealised fair value changes of derivative financial assets which is also adjusted. See Note 13. 12 Tax on unrealised fair value changes of equity investments of \u20ac12.9 million is adjusted to match the treatment of the equity investment fair value movement which is also adjusted. 13 Income tax in respect of prior years which have now been settled with the relevant tax authority. (Loss)/Profit Profitt from continuing before operations tax from attributable to the EBITDA \u2013 EBITDA \u2013 continuing owners of the Revenue B2B B2C EBITDA operations Company For the year ended 31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m Reported as actual 771.9 157.9 (5.9) 152.0 70.4 (12.1 ) Employee stock option expenses1 \u2014 5.6 0.1 5.7 5.7 5.7 Professional fees2 \u2014 13.4 \u2014 13.4 13.4 13.4 Impairment of investment and receivables3 \u2014 5.1 \u2014 5.1 5.1 5.1 Fair value changes and finance costs on contingent consideration4 \u2014 \u2014 \u2014 \u2014 3.5 3.5 Fair value changes of equity instruments5 \u2014 \u2014 \u2014 \u2014 6.6 6.6 Fair value change of derivative financial assets5 \u2014 \u2014 \u2014 \u2014 (153.4) (153.4) Amortisation of intangible assets on acquisitions6 \u2014 \u2014 \u2014 \u2014 12.0 12.0 Impairment of intangible assets7 \u2014 \u2014 \u2014 \u2014 89.8 89.8 Deferred tax on acquisitions6 \u2014 \u2014 \u2014 \u2014 \u2014 (1.6) Derecognition of brought forward deferred tax asset8 \u2014 \u2014 \u2014 \u2014 \u2014 37.2 Tax related to uncertain positions9 \u2014 \u2014 \u2014 \u2014 \u2014 8.0 Adjusted measure 771.9 182.0 (5.8) 176.2 53.1 14.2 1 Employee stock option expenses relate to non-cash expenses of the Group and differ from year to year based on share price and the number of options granted. 2 The vast majority of the professional fees relate to the acquisition of Hard Rock Digital (Note 19B) and the Caliplay disputes (Note 6). These expenses are not considered ongoing costs of operations and therefore are excluded. 3 Provision against investments and other receivables that do not relate to the ordinary operations of the Group. 4 Fair value change and finance costs on contingent consideration mostly related to the acquisition of AUS GMTC. These expenses are not considered ongoing costs of operations and therefore are excluded. 5 Fair value changes of equity instruments and derivative financial assets. These are excluded from the results as they relate to unrealised profit/loss. 6 Amortisation and deferred tax on intangible assets acquired through business combinations. Costs directly related to acquisitions are not considered ongoing costs of operations and therefore are excluded. 7 Impairment of intangible assets mainly relates to the impairment of Eyecon \u20ac7.8 million, Quickspin \u20ac9.6 million and Sports B2B \u20ac72.2 million. Refer to Note 18. 8 The reported tax expense has been adjusted for the derecognition of a deferred tax asset of \u20ac37.2 million relating to UK tax losses. This was adjusted because the losses in relation to the derecognised amount were generated over a number of years and therefore distorts the effective tax rate for the year. Refer to Notes 6, 13 and 31. 9 Change in estimates related to uncertain overseas tax positions in respect of prior years which have now been settled with the relevant tax authority. The following table provides a full reconciliation between adjusted and actual tax from continuing operations: 2024 2023 \u20ac\u2019m \u20ac\u2019m Tax on profit or loss for the year 127.1 82.5 Adjusted for: Deferred tax on intangible assets on acquisitions 8.0 1.6 Release of brought forward deferred tax asset (30.9) (37.2) Release of brought forward deferred tax asset on Group restructuring (26.1) \u2014 Tax on unrealised fair value changes of derivative financial assets (10.9) \u2014 Deferred tax on unrealised fair value changes of equity investments (12.9) \u2014 Deferred tax asset recognised in respect of refundable tax credit relating to prior years 6.5 \u2014 Income tax relating to prior years/tax related to uncertain positions (19.8) (8.0) Adjusted tax 41.0 38.9", "dimensions": { "concept": "playtechplc:DisclosureOfAdjustedItems", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-627": { "value": "
Note 11 \u2013 Auditor\u2019s remuneration
2024 2023
\u20ac\u2019m \u20ac\u2019m
Group audit and Parent Company (BDO)
3.0
3.0
Audit of subsidiaries (BDO)
1.4
1.4
Audit of subsidiaries (non-BDO)
0.2
0.2
Total audit fees
4.6
4.6
Non-audit services provided by Parent Company auditor and its international member firms
Other non-audit services
1.4
0.9
Total non-audit fees
1.4
0.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-628": { "value": "
Note 12 \u2013 Finance income and costs
A. Finance income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest income
1
19.7
8.0
Dividend income
3.3
0.1
Net foreign exchange gain
7.2
2.1
30.2
10.2
1
Interest income of \u20ac19.7 million includes \u20ac7.5 million interest income from Caliplay, which is part of normal contractual terms.
B. Finance costs
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest on bonds
(34.0)
(29.5)
Interest on lease liability
(3.0)
(3.6)
Interest on loans and borrowings and other
\u2014
(1.5)
Bank facility fees
(2.3)
(2.3)
Bank charges
(0.8)
(0.5)
Movement in contingent consideration
(3.8)
(3.5)
Expected credit loss on loans receivable
(2.6)
(0.9)
(46.5)
(41.8)
Net finance costs
(16.3)
(31.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-700": { "value": "Note 12 \u2013 Finance income and costs A. Finance income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest income
1
19.7
8.0
Dividend income
3.3
0.1
Net foreign exchange gain
7.2
2.1
30.2
10.2
1 Interest income of \u20ac19.7 million includes \u20ac7.5 million interest income from Caliplay, which is part of normal contractual terms. B. Finance costs
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest on bonds
(34.0)
(29.5)
Interest on lease liability
(3.0)
(3.6)
Interest on loans and borrowings and other
\u2014
(1.5)
Bank facility fees
(2.3)
(2.3)
Bank charges
(0.8)
(0.5)
Movement in contingent consideration
(3.8)
(3.5)
Expected credit loss on loans receivable
(2.6)
(0.9)
(46.5)
(41.8)
Net finance costs
(16.3)
(31.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-712": { "value": "A. Finance income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest income
1
19.7
8.0
Dividend income
3.3
0.1
Net foreign exchange gain
7.2
2.1
30.2
10.2
1 Interest income of \u20ac19.7 million includes \u20ac7.5 million interest income from Caliplay, which is part of normal contractual terms. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-670": { "value": "A. Finance income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest income
1
19.7
8.0
Dividend income
3.3
0.1
Net foreign exchange gain
7.2
2.1
30.2
10.2
1 Interest income of \u20ac19.7 million includes \u20ac7.5 million interest income from Caliplay, which is part of normal contractual terms. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-713": { "value": "B. Finance costs
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest on bonds
(34.0)
(29.5)
Interest on lease liability
(3.0)
(3.6)
Interest on loans and borrowings and other
\u2014
(1.5)
Bank facility fees
(2.3)
(2.3)
Bank charges
(0.8)
(0.5)
Movement in contingent consideration
(3.8)
(3.5)
Expected credit loss on loans receivable
(2.6)
(0.9)
(46.5)
(41.8)
Net finance costs
(16.3)
(31.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-671": { "value": "B. Finance costs
2024 2023
\u20ac\u2019m \u20ac\u2019m
Interest on bonds
(34.0)
(29.5)
Interest on lease liability
(3.0)
(3.6)
Interest on loans and borrowings and other
\u2014
(1.5)
Bank facility fees
(2.3)
(2.3)
Bank charges
(0.8)
(0.5)
Movement in contingent consideration
(3.8)
(3.5)
Expected credit loss on loans receivable
(2.6)
(0.9)
(46.5)
(41.8)
Net finance costs
(16.3)
(31.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-629": { "value": "
Note 13 \u2013 Tax expense
2024 2023
\u20ac\u2019m \u20ac\u2019m
Current tax expense
Income tax expense for the current year
33.1
15.6
Income tax relating to prior years
22.5
16.1
Withholding tax
0.3
0.8
Total current tax expense
55.9
32.4
Deferred tax
Origination and reversal of temporary differences
20.7
5.8
Deferred tax movements relating to prior years
50.5
44.3
Total deferred tax expense
71.2
5 0.1
Total tax expense from continuing operations
127.1
82.5
A reconciliation of the reported income tax charge of \u20ac127.1 million (2023: \u20ac82.5million) applicable to loss before tax of \u20ac9.4 million (2023: profit before tax of
\u20ac70.4 million) at the UK statutory income tax rate of 25% (2023: 23.5%) is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Loss from continuing operations
(136.5)
(12 .1)
Income tax expense
(127.1)
(82.5)
Profit/(loss) before income tax
(9.4)
70.4
Tax using the Company\u2019s domestic tax rate (25% in 2024 and 23.5% in 2023)
(2.4)
16.5
Tax effect of:
Non-taxable fair value movements on call options
\u2014
(36.1)
Non-deductible expenses
29.5
29.6
Deferred tax asset released in respect of Group restructuring
26.1
(5.2)
Deferred tax asset released in respect of prior years
30.9
3 9.1
Deferred tax in respect of refundable credit relating to prior years
(6.5)
\u2014
Increase in unrecognised tax losses
40.3
24.5
Difference in tax rates in overseas jurisdictions
(11.4)
(8.8)
Other
(1.9)
7.1
Adjustment in respect of previous years in respect of income tax
22.5
15.8
Total tax expense
127.1
82.5
Reported tax charge
A reported tax charge of \u20ac127.1million from continuing operations arises on a loss before tax of \u20ac9.4 million (2023: profit before tax of \u20ac70.4 million) compared
to an expected credit of \u20ac2.4 million (2023: an expected tax charge of \u20ac16.5 million). The reported tax expense includes adjustments in respect of prior years
relating to current tax and deferred tax of \u20ac72.9 million (2023: \u20ac58.0 million). The prior year adjustment in respect of current tax of \u20ac19.8 million relates to income
tax which has now been settled with the relevant tax authority. The Group\u2019s effective tax rate for the current period is higher than the expected tax credit of 25%.
The key reasons for the differences are:
\u2022 Profits of subsidiaries located in territories where the tax rate is lower than the UK statutory tax rate.
\u2022 The release of a deferred tax asset of \u20ac70.5 million in respect of UK tax attributes. Further details of this release are included in Note 7.
\u2022 Current year tax losses and excess interest not recognised for deferred tax purposes which increases the reported tax by \u20ac46.2 million. The tax losses and
excess interest mainly relate to the UK Group companies.
\u2022 Expenses not deductible for tax purposes including professional fees and impairment of intangible assets.
Changes in tax rates and factors affecting the future tax charge
The most significant elements of the Group\u2019s income arise in the UK where the tax rate for the current period is 25%. The Finance Act 2021 (enacted on
24 May 2021) increased the main rate of UK corporate income tax to 25% with effect from 1 April 2023. Deferred tax balances have been calculated using the
tax rates upon which the balance is expected to unwind.
The Group adopted the amendments to IAS 12 issued in May 2023, which provide a temporary mandatory exception from the requirement to recognise
and disclose deferred taxes arising from enacted tax law that implements the Pillar Two model rules, including tax law that implements qualified domestic
minimum top-up taxes described in those rules. Under these amendments, any Pillar Two taxes incurred by the Group will be accounted for as current taxes
from 1 January 2024. Based on an initial analysis of the current year financial data, most territories in which the Group operates are expected to qualify for one
of the safe harbour exemptions such that top-up taxes should not apply. In territories where this is not the case, the reported tax charge includes income tax of
\u20ac12.2 million related to Pillar 2 income tax . The Group continues to refine this assessment and analyse the future consequences of these rules and, in particular,
in relation to the fair value movements as to how future fair value movements, should these arise, may impact the tax charge.
Deferred tax
The deferred tax asset and liability are measured at the enacted or substantively enacted tax rates of the respective territories which are expected to apply
to the year in which the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the
balance sheet date. The deferred tax balances within the financial statements reflect the increase in the UK\u2019s main corporation tax rate from 19% to 25% from
1 April 2023.
Note 31 \u2013 Deferred tax
The movement on the deferred tax is as shown below:
2024 2023
\u20ac\u2019m \u20ac\u2019m
At 1 January as previously reported
(83.8)
(10.8)
Impact of correction of errors
\u2014
15.3
Restated balance at 1 January
(83.8)
4.5
Charge to profit or loss (continuing and discontinued operations)
(62.4)
(87.4)
On business combinations
\u2014
(0.9)
Reclassification to assets classified as held for sale (Note 24)
143.6
\u2014
At 31 December
(2.6)
(83.8)
2024 2023
\u20ac\u2019m \u20ac\u2019m
Split as:
Deferred tax liability
(19.2)
(161.6)
Deferred tax asset
16.6
77.8
(2.6)
(83.8)
Deferred tax assets and liabilities are offset only when there is a legally enforceable right of offset, in accordance with IAS 12.
As at 31 December 2024, the Directors continued to recognise deferred tax assets arising from temporary differences and tax losses carried forward, with the
latter only to the extent that it is probable that future taxable profit will be available against which the unused tax losses can be utilised. Please refer to Notes 6
and 13 for the assessment performed on the recognition of deferred tax in the period.
Details of the deferred tax outstanding as at 31 December 2024 and 2023 are as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Deferred tax recognised on Group restructuring
\u2014
36.8
Tax losses
2.9
20.6
Other temporary and deductible differences
(5.3)
(6.4)
Deferred tax on acquisitions
(0.2)
(81.2)
Intangible assets
\u2014
(53.6)
(2.6)
(83.8)
Details of the deferred tax, amounts recognised in profit or loss are as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Accelerated capital allowances
(24.2)
(2.0)
Other temporary and deductible differences
(21.3)
(39.4)
Leases
\u2014
0.1
Tax losses
(16.9)
(4 6.1)
(62.4)
(87.4)
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-630": { "value": "Note 14 \u2013 Earnings per share The calculation of basic earnings per share (EPS) has been based on the following profit attributable to ordinary shareholders and weighted average number of ordinary shares outstanding.
2024
2023
Actual Adjusted Actual Adjusted
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Profit/(Loss) attributable to the owners of the Company
(23.9)
223.5
105.1
156.8
Basic (cents)
(7.8)
73.2
34.7
51.7
Diluted (cents)
(7.8)
71.7
33.7
50.2
2024
2023
Actual Adjusted Actual Adjusted
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Profit/(Loss) attributable to the owners of the Company
from continuing operations
(136.2)
58.8
(12.1)
14.2
Basic (cents)
(44.6)
19.2
(3.9)
4.7
Diluted (cents)
(44.6)
18.8
(3.9)
4.6
2024
2023
Actual Adjusted Actual Adjusted
Number Number Number Number
Denominator \u2013 basic
Weighted average number of equity shares
305,355,970
305,355,970
303,279,998
303,279,998
Denominator \u2013 diluted
Weighted average number of equity shares
305,355,970
305,355,970
303,279,998
303,279,998
Weighted average number of option shares
6,318,633
6,318,633
8,647,771
8,647,771
Weighted average number of shares
311,674,603
311,674,603
311,927,769
311,927,769
The calculation of diluted EPS has been based on the above profit attributable to ordinary shareholders and weighted average number of ordinary shares outstanding after adjustment for the effects of all dilutive potential ordinary shares. The effects of the anti-dilutive potential ordinary shares are ignored in calculating diluted EPS. EPS for discontinued operations is disclosed in Note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-631": { "value": "
Note 15 \u2013 Employee benefits
Total staff costs (from continuing operations) comprise the following:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Salaries and personnel-related costs
456.1
379.9
Cash-settled share-based payments
1.7
0.2
Equity-settled share-based payments
4.7
5.6
462.5
385.7
Average number of personnel:
Distribution
6,712
6,130
General and administration
382
372
7, 0 9 4
6,502
The Group has the following employee share option plans (ESOP) for the granting of non-transferable options to certain employees:
\u2022 the Long Term Incentive Plan 2012 (LTIP). Awards (options, conditional share awards, cash-settled awards, or a forfeitable share award) granted under this
plan vest on the first day on which they become exercisable, which is typically between 18 and 36 months after grant date; and
\u2022 the Long Term Incentive Plan 2022 (LTIP22). Awards (options, conditional share awards, restricted shares, cash-settled awards) granted under this plan
vest on the first day on which they become exercisable, which is typically after 36 months.
The overall term of the ESOP is ten years. These options are settled in equity or cash once exercised. Option prices are denominated in GBP.
There were no grants during 2024.
During 2023 the Group granted 3,023,945 nil cost options under its LTIP22 which are subject to EPS growth, relative total shareholder return (TSR) against
constituents of the FTSE 250 but excluding the investment trusts index, and relative TSR against a sector comparator group of peer companies. The fair value
per share at the grant date according to the Monte Carlo simulation model is between \u00a33.84 and \u00a35.85. Inputs used were as follows:
Projection
Share price at Dividend period
Expected life (years) grant date
yield
Risk-free rate
(years)
Volatility
3
\u00a35.85
Nil
3.78%
3
36%\u2014 46%
At 31 December 2024 and 2023 the following options were outstanding:
2024 2023
Number Number
Shares vested on 1 March 2018 at nil cost
72,596
72,596
Shares vested between 1 September 2016 and 1 March 2018 at nil cost
9,902
12,411
Shares vested on 1 March 2019 at nil cost
21,820
21,820
Shares vested between 1 September 2017 and 1 March 2019 at nil cost
20,026
23,344
Shares vested on 21 December 2019 at nil cost
7,734
9,779
Shares vested on 1 March 2020 at nil cost
51,939
77,326
Shares vested on 1 March 2021 at nil cost
158,729
612,618
Shares vested between 1 March 2022 and 1 August 2022 at nil cost
561,678
1,260,489
Shares vested by 19 December 2024 at nil cost
700,000
1,400,000
Shares vested between 1 March 2023 and 26 October 2023 at nil cost
1,820,235
3,323,693
Shares will vest by 18 August 2025 at nil cost
351,724
351,724
Shares will vest by 5 May 2026 at nil cost
2,954,767
3,012,659
6,731,150
10,178,459
The total number of shares exercisable as of 31 December 2024 is 3,424,659 (2023: 6,114,076).
The total number of outstanding shares that will be cash settled is 412,517 (2023: 570,545). The total liability outstanding for the cash-settled options is
\u20ac2.81 million (2023: \u20ac2.2 million).
The following table illustrates the number and weighted average exercise prices of share options for the ESOP.
2024 2023
2024 2023 Weighted Weighted
Number Number average average
of options of options exercise price exercise price
Outstanding at the beginning of the year
10,178,459
12,172,864
\u2014
\u2014
Granted
\u2014
3,023,945
\u2014
\u2014
Forfeited
(761,466)
(1,137,717)
\u2014
\u2014
Exercised
(2,685,843)
(3,880,633)
\u2014
\u2014
Outstanding at the end of the year
6,731,150
10,178,459
\u2014
\u2014
Included in the number of options exercised during the year are 153,890 options (2023: 176,142) which were cash settled.
The weighted average share price at the date of exercise of options was \u00a37.18 (2023: \u00a35.39).
Share options outstanding at the end of the year have the following exercise prices:
2024 2023
Expiry date
Exercise price
Number Number
21 December 2025
Nil
82,498
85,007
Between 21 December 2026 and 31 December 2026
Nil
49,580
54,943
Between 1 March 2027 and 28 June 2027
Nil
51,939
77,326
23 July 2028
Nil
155,718
609,607
Between 27 February 2029 and 19 December 2029
Nil
1,264,689
2,663,500
Between 17 July 2030 and 26 October 2030
Nil
1,820,235
3,323,693
18 August 2032
Nil
351,724
351,724
5 May 2033
Nil
2,954,767
3,012,659
6,731,150
10,178,459
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-672": { "value": "Total staff costs (from continuing operations) comprise the following:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Salaries and personnel-related costs
456.1
379.9
Cash-settled share-based payments
1.7
0.2
Equity-settled share-based payments
4.7
5.6
462.5
385.7
Average number of personnel:
Distribution
6,712
6,130
General and administration
382
372
7, 0 9 4
6,502
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-673": { "value": "The Group has the following employee share option plans (ESOP) for the granting of non-transferable options to certain employees: \u2022 the Long Term Incentive Plan 2012 (LTIP). Awards (options, conditional share awards, cash-settled awards, or a forfeitable share award) granted under this plan vest on the first day on which they become exercisable, which is typically between 18 and 36 months after grant date; and \u2022 the Long Term Incentive Plan 2022 (LTIP22). Awards (options, conditional share awards, restricted shares, cash-settled awards) granted under this plan vest on the first day on which they become exercisable, which is typically after 36 months. The overall term of the ESOP is ten years. These options are settled in equity or cash once exercised. Option prices are denominated in GBP. There were no grants during 2024. During 2023 the Group granted 3,023,945 nil cost options under its LTIP22 which are subject to EPS growth, relative total shareholder return (TSR) against constituents of the FTSE 250 but excluding the investment trusts index, and relative TSR against a sector comparator group of peer companies. The fair value per share at the grant date according to the Monte Carlo simulation model is between \u00a33.84 and \u00a35.85. Inputs used were as follows:
Projection
Share price at Dividend period
Expected life (years) grant date
yield
Risk-free rate
(years)
Volatility
3
\u00a35.85
Nil
3.78%
3
36%\u2014 46%
At 31 December 2024 and 2023 the following options were outstanding:
2024 2023
Number Number
Shares vested on 1 March 2018 at nil cost
72,596
72,596
Shares vested between 1 September 2016 and 1 March 2018 at nil cost
9,902
12,411
Shares vested on 1 March 2019 at nil cost
21,820
21,820
Shares vested between 1 September 2017 and 1 March 2019 at nil cost
20,026
23,344
Shares vested on 21 December 2019 at nil cost
7,734
9,779
Shares vested on 1 March 2020 at nil cost
51,939
77,326
Shares vested on 1 March 2021 at nil cost
158,729
612,618
Shares vested between 1 March 2022 and 1 August 2022 at nil cost
561,678
1,260,489
Shares vested by 19 December 2024 at nil cost
700,000
1,400,000
Shares vested between 1 March 2023 and 26 October 2023 at nil cost
1,820,235
3,323,693
Shares will vest by 18 August 2025 at nil cost
351,724
351,724
Shares will vest by 5 May 2026 at nil cost
2,954,767
3,012,659
6,731,150
10,178,459
The total number of shares exercisable as of 31 December 2024 is 3,424,659 (2023: 6,114,076). The total number of outstanding shares that will be cash settled is 412,517 (2023: 570,545). The total liability outstanding for the cash-settled options is \u20ac2.81 million (2023: \u20ac2.2 million). The following table illustrates the number and weighted average exercise prices of share options for the ESOP.
2024 2023
2024 2023 Weighted Weighted
Number Number average average
of options of options exercise price exercise price
Outstanding at the beginning of the year
10,178,459
12,172,864
\u2014
\u2014
Granted
\u2014
3,023,945
\u2014
\u2014
Forfeited
(761,466)
(1,137,717)
\u2014
\u2014
Exercised
(2,685,843)
(3,880,633)
\u2014
\u2014
Outstanding at the end of the year
6,731,150
10,178,459
\u2014
\u2014
Included in the number of options exercised during the year are 153,890 options (2023: 176,142) which were cash settled. The weighted average share price at the date of exercise of options was \u00a37.18 (2023: \u00a35.39). Share options outstanding at the end of the year have the following exercise prices:
2024 2023
Expiry date
Exercise price
Number Number
21 December 2025
Nil
82,498
85,007
Between 21 December 2026 and 31 December 2026
Nil
49,580
54,943
Between 1 March 2027 and 28 June 2027
Nil
51,939
77,326
23 July 2028
Nil
155,718
609,607
Between 27 February 2029 and 19 December 2029
Nil
1,264,689
2,663,500
Between 17 July 2030 and 26 October 2030
Nil
1,820,235
3,323,693
18 August 2032
Nil
351,724
351,724
5 May 2033
Nil
2,954,767
3,012,659
6,731,150
10,178,459
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-632": { "value": "
Note 16 \u2013 Property, plant and equipment
Buildings,
Computer leasehold
software Gaming Office furniture buildings and
and hardware machines and equipment improvements Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2024
153.4
137.5
51.4
278.7
621.0
Additions
18.6
26.1
6.2
11.4
62.3
Acquisitions through business combinations
0.1
0.3
0.3
\u2014
0.7
Disposals
(4.6)
(7.2)
(2.3)
(3.0)
(17.1 )
Reclassification to assets classified as held for sale (Note 24)
(1.2)
(104.8)
(22.0)
(233.8)
(361.8)
Foreign exchange movement
0.4
\u2014
0.2
0.5
1.1
At 31 December 2024
166.7
51.9
33.8
53.8
306.2
Accumulated depreciation and impairment losses
At 1 January 2024
114.1
93.4
31.3
32.0
270.8
Charge
18.7
16.5
5.7
8.0
48.9
Impairment loss
\u2014
0.2
0.1
\u2014
0.3
Disposals
(4.2)
(6.5)
(2.2)
(2.4)
(15.3)
Reclassifications
\u2014
(0.2)
0.2
\u2014
\u2014
Reclassification to assets classified as held for sale (Note 24)
(1.2)
(69.3)
(12.3)
(9.9)
(92.7)
Foreign exchange movement
0.2
\u2014
\u2014
0.1
0.3
At 31 December 2024
127.6
34.1
22.8
27.8
212.3
Net book value
At 31 December 2024
39.1
17.8
11.0
26.0
93.9
At 1 January 2024
39.3
44.1
20.1
246.7
350.2
Buildings,
Computer leasehold
software Gaming Office furniture buildings and
and hardware machines and equipment improvements Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2023
142.5
115.2
49.0
274.4
581.1
Additions
19.5
23.1
6.2
8.8
57.6
Acquisitions through business combinations
\u2014
0.1
0.1
\u2014
0.2
Disposals
(6.2)
(2.8)
(1.1)
(3.8)
(13.9)
Reclassifications
\u2014
1.9
(1.9)
\u2014
\u2014
Foreign exchange movement
(2.4)
\u2014
(0.9)
(0.7)
(4.0)
At 31 December 2023
153.4
137.5
51.4
278.7
621.0
Accumulated depreciation and impairment losses
At 1 January 2023
104.1
78.0
28.2
29.4
239.7
Charge
17.5
16.1
6.1
6.8
46.5
Disposals
(6.1)
(2.6)
(0.7)
(3.6)
(13.0)
Reclassifications
\u2014
1.9
(1.9)
\u2014
\u2014
Foreign exchange movement
(1.4)
\u2014
(0.4)
(0.6)
(2.4)
At 31 December 2023
114.1
93.4
31.3
32.0
270.8
Net book value
At 31 December 2023
39.3
44.1
20.1
246.7
350.2
At 1 January 2023
38.4
37.2
20.8
245.0
341.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-714": { "value": "Note 16 \u2013 Property, plant and equipment
Buildings,
Computer leasehold
software Gaming Office furniture buildings and
and hardware machines and equipment improvements Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2024
153.4
137.5
51.4
278.7
621.0
Additions
18.6
26.1
6.2
11.4
62.3
Acquisitions through business combinations
0.1
0.3
0.3
\u2014
0.7
Disposals
(4.6)
(7.2)
(2.3)
(3.0)
(17.1 )
Reclassification to assets classified as held for sale (Note 24)
(1.2)
(104.8)
(22.0)
(233.8)
(361.8)
Foreign exchange movement
0.4
\u2014
0.2
0.5
1.1
At 31 December 2024
166.7
51.9
33.8
53.8
306.2
Accumulated depreciation and impairment losses
At 1 January 2024
114.1
93.4
31.3
32.0
270.8
Charge
18.7
16.5
5.7
8.0
48.9
Impairment loss
\u2014
0.2
0.1
\u2014
0.3
Disposals
(4.2)
(6.5)
(2.2)
(2.4)
(15.3)
Reclassifications
\u2014
(0.2)
0.2
\u2014
\u2014
Reclassification to assets classified as held for sale (Note 24)
(1.2)
(69.3)
(12.3)
(9.9)
(92.7)
Foreign exchange movement
0.2
\u2014
\u2014
0.1
0.3
At 31 December 2024
127.6
34.1
22.8
27.8
212.3
Net book value
At 31 December 2024
39.1
17.8
11.0
26.0
93.9
At 1 January 2024
39.3
44.1
20.1
246.7
350.2
Buildings,
Computer leasehold
software Gaming Office furniture buildings and
and hardware machines and equipment improvements Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2023
142.5
115.2
49.0
274.4
581.1
Additions
19.5
23.1
6.2
8.8
57.6
Acquisitions through business combinations
\u2014
0.1
0.1
\u2014
0.2
Disposals
(6.2)
(2.8)
(1.1)
(3.8)
(13.9)
Reclassifications
\u2014
1.9
(1.9)
\u2014
\u2014
Foreign exchange movement
(2.4)
\u2014
(0.9)
(0.7)
(4.0)
At 31 December 2023
153.4
137.5
51.4
278.7
621.0
Accumulated depreciation and impairment losses
At 1 January 2023
104.1
78.0
28.2
29.4
239.7
Charge
17.5
16.1
6.1
6.8
46.5
Disposals
(6.1)
(2.6)
(0.7)
(3.6)
(13.0)
Reclassifications
\u2014
1.9
(1.9)
\u2014
\u2014
Foreign exchange movement
(1.4)
\u2014
(0.4)
(0.6)
(2.4)
At 31 December 2023
114.1
93.4
31.3
32.0
270.8
Net book value
At 31 December 2023
39.3
44.1
20.1
246.7
350.2
At 1 January 2023
38.4
37.2
20.8
245.0
341.4
Note 18 \u2013 Intangible assets
Patents,
domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2024
273.2
79.7
483.4
526.5
680.4
2,043.2
Additions
11.7
\u2014
50.0
\u2014
\u2014
61.7
Assets acquired through business combinations*
\u2014
\u2014
\u2014
\u2014
15.4
15.4
Reclassification to assets classified as held for
sale (Note 24)
(243.4)
\u2014
(12.3)
(245.3)
(307.6)
(808.6)
Disposal
\u2014
\u2014
(5.1)
\u2014
(3.4)
(8.5)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
41.6
79.7
516.0
281.2
384.8
1,303.3
Accumulated amortisation and
impairment losses
At 1 January 2024
177.3
75.4
349.9
408.0
151.4
1,162.0
Charge
40.8
1.8
45.2
21.2
\u2014
109.0
Impairment loss
2.1
0.1
20.6
26.5
70.4
119.7
Reclassification to assets classified as held for
sale (Note 24)
(180.4)
\u2014
(6.5)
(181.6)
(25.3)
(393.8)
Disposals
\u2014
\u2014
(5.1)
\u2014
(2.7)
(7.8)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
39.9
77.3
404.1
274.1
193.8
989.2
Net book value
At 31 December 2024
1.7
2.4
111.9
7.1
191.0
314.1
At 1 January 2024
95.9
4.3
133.5
118.5
529.0
881.2
* During 2024 the Group made acquisitions with net cash outflows of \u20ac12.0 million. Other than the MixZone acquisition which created goodwill of \u20ac1.2 million (Note 25F) all other assets created on business combinations were transferred to held for sale. See Note 24 for further details.
Patents, domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2023
222.4
79.7
428.4
523.5
676.6
1,930.6
Additions
51.0
\u2014
58.4
\u2014
\u2014
109.4
Assets acquired through business combinations
0.4
\u2014
\u2014
3.0
4.2
7.6
Disposal
(0.2)
\u2014
(3.4)
\u2014
(0.4)
(4.0)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
273.2
79.7
483.4
526.5
680.4
2,043.2
Accumulated amortisation and
impairment losses
At 1 January 2023
133.8
72.4
300.3
376.4
66.8
949.7
Charge
43.5
3.0
49.4
30.8
\u2014
126.7
Impairment loss
0.4
\u2014
3.6
0.8
85.0
89.8
Disposals
\u2014
\u2014
(3.4)
\u2014
(0.4)
(3.8)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
177.3
75.4
349.9
408.0
151.4
1,162.0
Net book value
At 31 December 2023
95.9
4.3
133.5
118.5
529.0
881.2
At 1 January 2023
88.6
7.3
128.1
147.1
609.8
980.9
During the year, the research and development costs net of capitalised development costs were \u20ac116.9 million (2023: \u20ac101.2 million). The internal capitalisation for the year was \u20ac48.8 million (2023: \u20ac56.7 million). Out of the total amortisation charge of \u20ac109.0 million (2023: \u20ac126.7 million), an amount of \u20ac29.0 million (2023: \u20ac42.6 million including continuing and discontinued operations) relates to the intangible assets acquired through business combinations. In accordance with IAS 36, the Group regularly monitors the carrying value of its intangible assets, including goodwill. Goodwill is allocated to 14 cash- generating units (CGUs) (2023: 13) out of which two CGUs are held for sale. The allocation of the goodwill to CGUs (excluding CGUs held for sale) is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
SNAI (Reclassified to assets held for sale)
\u2014
263.4
AUS GMTC
4.4
4.4
Bingo retail
9.5
9.5
Casino
50.8
50.8
Poker (\u20ac5.0 million reclassified to assets held for sale \u2013 Note 24)
10.6
15.6
Quickspin
\u2014
10.2
Sports B2B
\u2014
60.3
VB retail
4.6
4.6
Services
109.9
109.9
Sports B2C
\u2014
0.3
MixZone
1.2
\u2014
191.0
529.0
Management reviews CGUs for impairment bi-annually with a detailed assessment of each CGU carried out annually and whenever there is an indication that a unit may be impaired. During the annual detailed review, the recoverable amount of each CGU is determined from value in use calculations based on cash flow projections covering five years (using the Board-approved three-year plan along with a remaining two-year forecasted period) plus a terminal value which have been adjusted to take into account each CGU\u2019s major events as expected in future periods. A potential risk for future impairment exists should there be a significant change in the economic outlook versus those trends management anticipates in its forecasts due to the occurrence of these events. With the exception of CGUs which have been fully impaired to date and CGUs deemed sensitive to impairment from a reasonably possible change in key assumptions as reviewed in further detail below, management has used the Group\u2019s three-year plan, however extended it to five years and calculated the growth estimates for years one to five by applying an average annual growth rate for revenue based on the underlying economic environment in which the CGU operates and the expected performance over that period. Beyond this period, management has applied an annual growth rate of 2.0%. Management has included appropriate capital expenditure requirements to support the forecast growth and assumed the maintenance of the current level of licences. Management has also applied post-tax discount rates to the cash flow projections as summarised below. 2024 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2025\u20132029 rate applied
AUS GMTC
10.8%
11.46%
Bingo retail
8.8%
12.12%
Bingo VF
8.1%
13.49%
Casino
6.0%
11.59%
Services
(1.5%)
16.61%
Poker
0.8%
12.75%
2023 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2024-2028 rate applied
SNAI
3.1%
15.2%
AUS GMTC
15.8%
13.1%
Bingo retail
4.9%
13.8%
Casino
4.7%
13.1%
Poker
4.0%
14.9%
In relation to the IGS, Sports B2B and Quickspin CGUs, following impairment tests completed in 2024, impairments have been recognised as disclosed below. Certain other CGUs, which are specifically referred to below but not impaired, are considered sensitive to changes in assumptions used for the calculation of value in use. IGS CGU (Impaired at 30 June 2024) The recoverable amount of the IGS CGU, with a carrying value of \u20ac4.9 million at 30 June 2024, has been determined using a cash flow forecast that includes annual revenue growth rates ranging between a decline of 19.9% to an increase of 59.0%, over the one to five-year forecast period (31 December 2023: annual revenue growth rates between 5.0% and 26.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 14.7% (31 December 2023: post-tax discount rate of 20.9%). Following the termination of two key contracts, the recoverable amount of this CGU is \u20acNil and hence the carrying value has been impaired by \u20ac4.9 million in the year ended 31 December 2024. Following the impairment posted, all assets have been impaired to the recoverable amount. Sports B2B CGU (Impaired at 30 June 2024) The recoverable amount of the Sports B2B CGU, with a carrying value of \u20ac113.0 million at 30 June 2024 (pre-impairment), has been determined using a cash flow forecast that includes annual revenue growth rates ranging between a decline of 6.5% to an increase 3.0%, over the one to five year forecast period (31 December 2023: annual revenue growth rates ranging from a decline of 20.0% and an increase of 15.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.7% (31 December 2023: post-tax discount rate of 13.7%). Following the announcement of the revised strategic agreement with Caliplay, which will impact the sports revenue generated from 2025 (when the conditions were met and the revised arrangements become effective from 31 March 2025 as announced on 21 March 2025), in addition to further expected reductions in revenue from other sports licensees, the recoverable amount of \u20ac16.6 million does not exceed the carrying value as stated above (pre-impairment) and therefore an impairment loss of \u20ac96.3 million was recognised in the year ended 31 December 2024 (31 December 2023: impairment of \u20ac72.2 million due to the termination of two key contracts). Following the impairment posted, all assets have been impaired to the recoverable amount. The impairment recorded in the interim review to 30 June 2024 contained an error due to the incorrect allocation of CGU assets to the Sports CGU. This has resulted in a \u20ac15.9 million reduction to the impairment previously recorded in the period to 30 June 2024. This matter will also be disclosed as a restatement in the 6-month period to 30 June 2025. Quickspin CGU Given the challenges of operating in an extremely competitive market with stricter regulations being introduced, the recoverable amount of the Quickspin CGU was impaired by \u20ac18.2 million in 2024 (2023: \u20ac9.6 million). The recoverable amount of this CGU of \u20ac6.4 million, with a carrying value of \u20ac24.6 million (pre-impairment) at 31 December 2024, has been determined using a cash flow forecast that includes annual revenue growth rates between 2.6% and -4.0% over the one to five-year forecast period (2023: annual revenue growth rates between 5.0% and 7.2%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 12.5% (2023: post-tax discount rate of 12.4%). If the revenue growth rate per annum is lower by 1%, then an additional impairment of \u20ac3.5 million would be recognised. Similarly, if the discount rate increases to a post-tax discount rate of 13.5% from 12.5%, this would result in a further impairment of \u20ac0.2 million. Eyecon CGU The Eyecon CGU recognised an impairment of \u20ac7.8 million in 2023. The CGU was largely in line with budget in 2024. The recoverable amount of this CGU of \u20ac15.8 million, with a carrying value equal to \u20ac10.2 million at 31 December 2024, was determined using a cash flow forecast that includes annual revenue growth rates of 5.0% over the one to five-year forecast period (2023: annual revenue growth rates between 2.0% and 11.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.6% (2023: post-tax discount rate of 15.1%). The recoverable amount would equal the carrying value of the CGU if: \u2022 the discount rate applied reached a post-tax discount rate of 20.0%. \u2022 the revenue growth was lower by 0.4% when compared to the forecasted average five-year growth. VB Retail CGU The recoverable amount of the VB Retail CGU showed signs of underperformance during H2 2024, mainly due to delays in securing new revenue streams. However, given the fact that new opportunities have been secured for 2025, no impairment has been recognised as at 31 December 2024. The recoverable amount of this CGU of \u20ac41.2 million, with a carrying value of \u20ac27.9 million at 31 December 2024, has been determined using a cash flow forecast that includes annual revenue growth rates between 18.0% and 4.5% over the one to five-year forecast period (2023: annual revenue growth rates between 8.0% and 13.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 11.25% (2023: post-tax discount rate of 12.7%). The recoverable amount would equal the carrying value of the CGU if: \u2022 the discount rate applied was higher by 39.7%, i.e. reaching a post-tax discount rate of 15.7%; or \u2022 the revenue growth was lower by 4.5% when compared to the forecasted average five-year growth.", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-633": { "value": "
Note 17 \u2013 Leases
Set out below are the carrying amounts of right of use assets recognised and the movements during the year:
Office Machinery
leases Hosting rentals Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
At 1 January 2024
59.9
10.1
1.0
71.0
Additions/modifications
9.8
7.1
0.1
17.0
On business combinations
2.0
\u2014
\u2014
2.0
Reclassification to assets classified as held for sale (Note 24)
(31.1)
(0.5)
(0.8)
(32.4)
Amortisation charge
(14.9)
(8.1)
(0.3)
(23.3)
Impairment loss
(0.2)
\u2014
\u2014
(0.2)
Foreign exchange movement
(0.1)
\u2014
\u2014
(0.1)
At 31 December 2024
25.4
8.6
\u2014
34.0
Office Machinery
leases Hosting rentals Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
At 1 January 2023
60.5
11.1
\u2014
71.6
Additions/modifications
14.2
6.8
1.4
22.4
On business combinations
1.9
\u2014
\u2014
1.9
Amortisation charge
(15.1)
(7.8)
(0.4)
(23.3)
Foreign exchange movement
(1.6)
\u2014
\u2014
(1.6)
At 31 December 2023
59.9
10.1
1.0
71.0
Set out below are the carrying amounts of lease liabilities and the movements during the year:
2024 2023
\u20ac\u2019m \u20ac\u2019m
At 1 January
86.8
85.8
Additions/modifications
16.7
22.0
On business combinations
2.0
1.9
Reclassification to assets classified as held for sale (Note 24)
(34.7)
\u2014
Accretion of interest
4.7
5.2
Payments
(30.5)
(28.3)
Foreign exchange movement
1.3
0.2
At 31 December
46.3
86.8
Current
19.8
24.9
Non-current
26.5
61.9
46.3
86.8
The maturity analysis of lease liabilities is disclosed in Note 35B.
The following are the amounts recognised in profit or loss:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Amortisation expense of right of use assets
18.7
18.3
Interest expense on lease liabilities
3.0
3.6
Impact of early termination of lease contracts
(0.2)
(0.1 )
21.5
21.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-674": { "value": "Note 17 \u2013 Leases Set out below are the carrying amounts of right of use assets recognised and the movements during the year:
Office Machinery
leases Hosting rentals Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
At 1 January 2024
59.9
10.1
1.0
71.0
Additions/modifications
9.8
7.1
0.1
17.0
On business combinations
2.0
\u2014
\u2014
2.0
Reclassification to assets classified as held for sale (Note 24)
(31.1)
(0.5)
(0.8)
(32.4)
Amortisation charge
(14.9)
(8.1)
(0.3)
(23.3)
Impairment loss
(0.2)
\u2014
\u2014
(0.2)
Foreign exchange movement
(0.1)
\u2014
\u2014
(0.1)
At 31 December 2024
25.4
8.6
\u2014
34.0
Office Machinery
leases Hosting rentals Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
At 1 January 2023
60.5
11.1
\u2014
71.6
Additions/modifications
14.2
6.8
1.4
22.4
On business combinations
1.9
\u2014
\u2014
1.9
Amortisation charge
(15.1)
(7.8)
(0.4)
(23.3)
Foreign exchange movement
(1.6)
\u2014
\u2014
(1.6)
At 31 December 2023
59.9
10.1
1.0
71.0
Set out below are the carrying amounts of lease liabilities and the movements during the year:
2024 2023
\u20ac\u2019m \u20ac\u2019m
At 1 January
86.8
85.8
Additions/modifications
16.7
22.0
On business combinations
2.0
1.9
Reclassification to assets classified as held for sale (Note 24)
(34.7)
\u2014
Accretion of interest
4.7
5.2
Payments
(30.5)
(28.3)
Foreign exchange movement
1.3
0.2
At 31 December
46.3
86.8
Current
19.8
24.9
Non-current
26.5
61.9
46.3
86.8
The maturity analysis of lease liabilities is disclosed in Note 35B. The following are the amounts recognised in profit or loss:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Amortisation expense of right of use assets
18.7
18.3
Interest expense on lease liabilities
3.0
3.6
Impact of early termination of lease contracts
(0.2)
(0.1 )
21.5
21.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-634": { "value": "
Note 18 \u2013 Intangible assets
Patents,
domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2024
273.2
79.7
483.4
526.5
680.4
2,043.2
Additions
11.7
\u2014
50.0
\u2014
\u2014
61.7
Assets acquired through business combinations*
\u2014
\u2014
\u2014
\u2014
15.4
15.4
Reclassification to assets classified as held for
sale (Note 24)
(243.4)
\u2014
(12.3)
(245.3)
(307.6)
(808.6)
Disposal
\u2014
\u2014
(5.1)
\u2014
(3.4)
(8.5)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
41.6
79.7
516.0
281.2
384.8
1,303.3
Accumulated amortisation and
impairment losses
At 1 January 2024
177.3
75.4
349.9
408.0
151.4
1,162.0
Charge
40.8
1.8
45.2
21.2
\u2014
109.0
Impairment loss
2.1
0.1
20.6
26.5
70.4
119.7
Reclassification to assets classified as held for
sale (Note 24)
(180.4)
\u2014
(6.5)
(181.6)
(25.3)
(393.8)
Disposals
\u2014
\u2014
(5.1)
\u2014
(2.7)
(7.8)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
39.9
77.3
404.1
274.1
193.8
989.2
Net book value
At 31 December 2024
1.7
2.4
111.9
7.1
191.0
314.1
At 1 January 2024
95.9
4.3
133.5
118.5
529.0
881.2
* During 2024 the Group made acquisitions with net cash outflows of \u20ac12.0 million. Other than the MixZone acquisition which created goodwill of \u20ac1.2 million (Note 25F) all other
assets created on business combinations were transferred to held for sale. See Note 24 for further details.
Patents, domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2023
222.4
79.7
428.4
523.5
676.6
1,930.6
Additions
51.0
\u2014
58.4
\u2014
\u2014
109.4
Assets acquired through business combinations
0.4
\u2014
\u2014
3.0
4.2
7.6
Disposal
(0.2)
\u2014
(3.4)
\u2014
(0.4)
(4.0)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
273.2
79.7
483.4
526.5
680.4
2,043.2
Accumulated amortisation and
impairment losses
At 1 January 2023
133.8
72.4
300.3
376.4
66.8
949.7
Charge
43.5
3.0
49.4
30.8
\u2014
126.7
Impairment loss
0.4
\u2014
3.6
0.8
85.0
89.8
Disposals
\u2014
\u2014
(3.4)
\u2014
(0.4)
(3.8)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
177.3
75.4
349.9
408.0
151.4
1,162.0
Net book value
At 31 December 2023
95.9
4.3
133.5
118.5
529.0
881.2
At 1 January 2023
88.6
7.3
128.1
147.1
609.8
980.9
During the year, the research and development costs net of capitalised development costs were \u20ac116.9 million (2023: \u20ac101.2 million). The internal capitalisation
for the year was \u20ac48.8 million (2023: \u20ac56.7 million).
Out of the total amortisation charge of \u20ac109.0 million (2023: \u20ac126.7 million), an amount of \u20ac29.0 million (2023: \u20ac42.6 million including continuing and
discontinued operations) relates to the intangible assets acquired through business combinations.
In accordance with IAS 36, the Group regularly monitors the carrying value of its intangible assets, including goodwill. Goodwill is allocated to 14 cash-
generating units (CGUs) (2023: 13) out of which two CGUs are held for sale.
The allocation of the goodwill to CGUs (excluding CGUs held for sale) is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
SNAI (Reclassified to assets held for sale)
\u2014
263.4
AUS GMTC
4.4
4.4
Bingo retail
9.5
9.5
Casino
50.8
50.8
Poker (\u20ac5.0 million reclassified to assets held for sale \u2013 Note 24)
10.6
15.6
Quickspin
\u2014
10.2
Sports B2B
\u2014
60.3
VB retail
4.6
4.6
Services
109.9
109.9
Sports B2C
\u2014
0.3
MixZone
1.2
\u2014
191.0
529.0
Management reviews CGUs for impairment bi-annually with a detailed assessment of each CGU carried out annually and whenever there is an indication that
a unit may be impaired. During the annual detailed review, the recoverable amount of each CGU is determined from value in use calculations based on cash
flow projections covering five years (using the Board-approved three-year plan along with a remaining two-year forecasted period) plus a terminal value which
have been adjusted to take into account each CGU\u2019s major events as expected in future periods. A potential risk for future impairment exists should there be a
significant change in the economic outlook versus those trends management anticipates in its forecasts due to the occurrence of these events.
With the exception of CGUs which have been fully impaired to date and CGUs deemed sensitive to impairment from a reasonably possible change in key
assumptions as reviewed in further detail below, management has used the Group\u2019s three-year plan, however extended it to five years and calculated the
growth estimates for years one to five by applying an average annual growth rate for revenue based on the underlying economic environment in which the
CGU operates and the expected performance over that period. Beyond this period, management has applied an annual growth rate of 2.0%. Management
has included appropriate capital expenditure requirements to support the forecast growth and assumed the maintenance of the current level of licences.
Management has also applied post-tax discount rates to the cash flow projections as summarised below.
2024 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2025\u20132029 rate applied
AUS GMTC
10.8%
11.46%
Bingo retail
8.8%
12.12%
Bingo VF
8.1%
13.49%
Casino
6.0%
11.59%
Services
(1.5%)
16.61%
Poker
0.8%
12.75%
2023 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2024-2028 rate applied
SNAI
3.1%
15.2%
AUS GMTC
15.8%
13.1%
Bingo retail
4.9%
13.8%
Casino
4.7%
13.1%
Poker
4.0%
14.9%
In relation to the IGS, Sports B2B and Quickspin CGUs, following impairment tests completed in 2024, impairments have been recognised as disclosed below.
Certain other CGUs, which are specifically referred to below but not impaired, are considered sensitive to changes in assumptions used for the calculation of
value in use.
IGS CGU (Impaired at 30 June 2024)
The recoverable amount of the IGS CGU, with a carrying value of \u20ac4.9 million at 30 June 2024, has been determined using a cash flow forecast that includes
annual revenue growth rates ranging between a decline of 19.9% to an increase of 59.0%, over the one to five-year forecast period (31 December 2023: annual
revenue growth rates between 5.0% and 26.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount
rate of 14.7% (31 December 2023: post-tax discount rate of 20.9%). Following the termination of two key contracts, the recoverable amount of this CGU is \u20acNil
and hence the carrying value has been impaired by \u20ac4.9 million in the year ended 31 December 2024. Following the impairment posted, all assets have been
impaired to the recoverable amount.
Sports B2B CGU (Impaired at 30 June 2024)
The recoverable amount of the Sports B2B CGU, with a carrying value of \u20ac113.0 million at 30 June 2024 (pre-impairment), has been determined using a
cash flow forecast that includes annual revenue growth rates ranging between a decline of 6.5% to an increase 3.0%, over the one to five year forecast
period (31 December 2023: annual revenue growth rates ranging from a decline of 20.0% and an increase of 15.0%), a 2.0% long-term growth rate
(31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.7% (31 December 2023: post-tax discount rate of 13.7%).
Following the announcement of the revised strategic agreement with Caliplay, which will impact the sports revenue generated from 2025 (when the conditions
were met and the revised arrangements become effective from 31 March 2025 as announced on 21 March 2025), in addition to further expected reductions
in revenue from other sports licensees, the recoverable amount of \u20ac16.6 million does not exceed the carrying value as stated above (pre-impairment) and
therefore an impairment loss of \u20ac96.3 million was recognised in the year ended 31 December 2024 (31 December 2023: impairment of \u20ac72.2 million due to the
termination of two key contracts). Following the impairment posted, all assets have been impaired to the recoverable amount.
The impairment recorded in the interim review to 30 June 2024 contained an error due to the incorrect allocation of CGU assets to the Sports CGU. This has
resulted in a \u20ac15.9 million reduction to the impairment previously recorded in the period to 30 June 2024. This matter will also be disclosed as a restatement in
the 6-month period to 30 June 2025.
Quickspin CGU
Given the challenges of operating in an extremely competitive market with stricter regulations being introduced, the recoverable amount of the Quickspin CGU
was impaired by \u20ac18.2 million in 2024 (2023: \u20ac9.6 million).
The recoverable amount of this CGU of \u20ac6.4 million, with a carrying value of \u20ac24.6 million (pre-impairment) at 31 December 2024, has been determined using a
cash flow forecast that includes annual revenue growth rates between 2.6% and -4.0% over the one to five-year forecast period (2023: annual revenue growth
rates between 5.0% and 7.2%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 12.5% (2023: post-tax discount
rate of 12.4%).
If the revenue growth rate per annum is lower by 1%, then an additional impairment of \u20ac3.5 million would be recognised. Similarly, if the discount rate increases to
a post-tax discount rate of 13.5% from 12.5%, this would result in a further impairment of \u20ac0.2 million.
Eyecon CGU
The Eyecon CGU recognised an impairment of \u20ac7.8 million in 2023. The CGU was largely in line with budget in 2024. The recoverable amount of this CGU of
\u20ac15.8 million, with a carrying value equal to \u20ac10.2 million at 31 December 2024, was determined using a cash flow forecast that includes annual revenue growth
rates of 5.0% over the one to five-year forecast period (2023: annual revenue growth rates between 2.0% and 11.0%), 2.0% long-term growth rate (2023: 2.0%
long-term growth rate) and a post-tax discount rate of 13.6% (2023: post-tax discount rate of 15.1%). The recoverable amount would equal the carrying value of
the CGU if:
\u2022 the discount rate applied reached a post-tax discount rate of 20.0%.
\u2022 the revenue growth was lower by 0.4% when compared to the forecasted average five-year growth.
VB Retail CGU
The recoverable amount of the VB Retail CGU showed signs of underperformance during H2 2024, mainly due to delays in securing new revenue streams.
However, given the fact that new opportunities have been secured for 2025, no impairment has been recognised as at 31 December 2024.
The recoverable amount of this CGU of \u20ac41.2 million, with a carrying value of \u20ac27.9 million at 31 December 2024, has been determined using a cash flow
forecast that includes annual revenue growth rates between 18.0% and 4.5% over the one to five-year forecast period (2023: annual revenue growth rates
between 8.0% and 13.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 11.25% (2023: post-tax discount rate
of 12.7%). The recoverable amount would equal the carrying value of the CGU if:
\u2022 the discount rate applied was higher by 39.7%, i.e. reaching a post-tax discount rate of 15.7%; or
\u2022 the revenue growth was lower by 4.5% when compared to the forecasted average five-year growth.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-701": { "value": "Note 18 \u2013 Intangible assets
Patents,
domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2024
273.2
79.7
483.4
526.5
680.4
2,043.2
Additions
11.7
\u2014
50.0
\u2014
\u2014
61.7
Assets acquired through business combinations*
\u2014
\u2014
\u2014
\u2014
15.4
15.4
Reclassification to assets classified as held for
sale (Note 24)
(243.4)
\u2014
(12.3)
(245.3)
(307.6)
(808.6)
Disposal
\u2014
\u2014
(5.1)
\u2014
(3.4)
(8.5)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
41.6
79.7
516.0
281.2
384.8
1,303.3
Accumulated amortisation and
impairment losses
At 1 January 2024
177.3
75.4
349.9
408.0
151.4
1,162.0
Charge
40.8
1.8
45.2
21.2
\u2014
109.0
Impairment loss
2.1
0.1
20.6
26.5
70.4
119.7
Reclassification to assets classified as held for
sale (Note 24)
(180.4)
\u2014
(6.5)
(181.6)
(25.3)
(393.8)
Disposals
\u2014
\u2014
(5.1)
\u2014
(2.7)
(7.8)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
39.9
77.3
404.1
274.1
193.8
989.2
Net book value
At 31 December 2024
1.7
2.4
111.9
7.1
191.0
314.1
At 1 January 2024
95.9
4.3
133.5
118.5
529.0
881.2
* During 2024 the Group made acquisitions with net cash outflows of \u20ac12.0 million. Other than the MixZone acquisition which created goodwill of \u20ac1.2 million (Note 25F) all other assets created on business combinations were transferred to held for sale. See Note 24 for further details.
Patents, domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2023
222.4
79.7
428.4
523.5
676.6
1,930.6
Additions
51.0
\u2014
58.4
\u2014
\u2014
109.4
Assets acquired through business combinations
0.4
\u2014
\u2014
3.0
4.2
7.6
Disposal
(0.2)
\u2014
(3.4)
\u2014
(0.4)
(4.0)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
273.2
79.7
483.4
526.5
680.4
2,043.2
Accumulated amortisation and
impairment losses
At 1 January 2023
133.8
72.4
300.3
376.4
66.8
949.7
Charge
43.5
3.0
49.4
30.8
\u2014
126.7
Impairment loss
0.4
\u2014
3.6
0.8
85.0
89.8
Disposals
\u2014
\u2014
(3.4)
\u2014
(0.4)
(3.8)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
177.3
75.4
349.9
408.0
151.4
1,162.0
Net book value
At 31 December 2023
95.9
4.3
133.5
118.5
529.0
881.2
At 1 January 2023
88.6
7.3
128.1
147.1
609.8
980.9
During the year, the research and development costs net of capitalised development costs were \u20ac116.9 million (2023: \u20ac101.2 million). The internal capitalisation for the year was \u20ac48.8 million (2023: \u20ac56.7 million). Out of the total amortisation charge of \u20ac109.0 million (2023: \u20ac126.7 million), an amount of \u20ac29.0 million (2023: \u20ac42.6 million including continuing and discontinued operations) relates to the intangible assets acquired through business combinations. In accordance with IAS 36, the Group regularly monitors the carrying value of its intangible assets, including goodwill. Goodwill is allocated to 14 cash- generating units (CGUs) (2023: 13) out of which two CGUs are held for sale. The allocation of the goodwill to CGUs (excluding CGUs held for sale) is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
SNAI (Reclassified to assets held for sale)
\u2014
263.4
AUS GMTC
4.4
4.4
Bingo retail
9.5
9.5
Casino
50.8
50.8
Poker (\u20ac5.0 million reclassified to assets held for sale \u2013 Note 24)
10.6
15.6
Quickspin
\u2014
10.2
Sports B2B
\u2014
60.3
VB retail
4.6
4.6
Services
109.9
109.9
Sports B2C
\u2014
0.3
MixZone
1.2
\u2014
191.0
529.0
Management reviews CGUs for impairment bi-annually with a detailed assessment of each CGU carried out annually and whenever there is an indication that a unit may be impaired. During the annual detailed review, the recoverable amount of each CGU is determined from value in use calculations based on cash flow projections covering five years (using the Board-approved three-year plan along with a remaining two-year forecasted period) plus a terminal value which have been adjusted to take into account each CGU\u2019s major events as expected in future periods. A potential risk for future impairment exists should there be a significant change in the economic outlook versus those trends management anticipates in its forecasts due to the occurrence of these events. With the exception of CGUs which have been fully impaired to date and CGUs deemed sensitive to impairment from a reasonably possible change in key assumptions as reviewed in further detail below, management has used the Group\u2019s three-year plan, however extended it to five years and calculated the growth estimates for years one to five by applying an average annual growth rate for revenue based on the underlying economic environment in which the CGU operates and the expected performance over that period. Beyond this period, management has applied an annual growth rate of 2.0%. Management has included appropriate capital expenditure requirements to support the forecast growth and assumed the maintenance of the current level of licences. Management has also applied post-tax discount rates to the cash flow projections as summarised below. 2024 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2025\u20132029 rate applied
AUS GMTC
10.8%
11.46%
Bingo retail
8.8%
12.12%
Bingo VF
8.1%
13.49%
Casino
6.0%
11.59%
Services
(1.5%)
16.61%
Poker
0.8%
12.75%
2023 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2024-2028 rate applied
SNAI
3.1%
15.2%
AUS GMTC
15.8%
13.1%
Bingo retail
4.9%
13.8%
Casino
4.7%
13.1%
Poker
4.0%
14.9%
In relation to the IGS, Sports B2B and Quickspin CGUs, following impairment tests completed in 2024, impairments have been recognised as disclosed below. Certain other CGUs, which are specifically referred to below but not impaired, are considered sensitive to changes in assumptions used for the calculation of value in use. IGS CGU (Impaired at 30 June 2024) The recoverable amount of the IGS CGU, with a carrying value of \u20ac4.9 million at 30 June 2024, has been determined using a cash flow forecast that includes annual revenue growth rates ranging between a decline of 19.9% to an increase of 59.0%, over the one to five-year forecast period (31 December 2023: annual revenue growth rates between 5.0% and 26.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 14.7% (31 December 2023: post-tax discount rate of 20.9%). Following the termination of two key contracts, the recoverable amount of this CGU is \u20acNil and hence the carrying value has been impaired by \u20ac4.9 million in the year ended 31 December 2024. Following the impairment posted, all assets have been impaired to the recoverable amount. Sports B2B CGU (Impaired at 30 June 2024) The recoverable amount of the Sports B2B CGU, with a carrying value of \u20ac113.0 million at 30 June 2024 (pre-impairment), has been determined using a cash flow forecast that includes annual revenue growth rates ranging between a decline of 6.5% to an increase 3.0%, over the one to five year forecast period (31 December 2023: annual revenue growth rates ranging from a decline of 20.0% and an increase of 15.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.7% (31 December 2023: post-tax discount rate of 13.7%). Following the announcement of the revised strategic agreement with Caliplay, which will impact the sports revenue generated from 2025 (when the conditions were met and the revised arrangements become effective from 31 March 2025 as announced on 21 March 2025), in addition to further expected reductions in revenue from other sports licensees, the recoverable amount of \u20ac16.6 million does not exceed the carrying value as stated above (pre-impairment) and therefore an impairment loss of \u20ac96.3 million was recognised in the year ended 31 December 2024 (31 December 2023: impairment of \u20ac72.2 million due to the termination of two key contracts). Following the impairment posted, all assets have been impaired to the recoverable amount. The impairment recorded in the interim review to 30 June 2024 contained an error due to the incorrect allocation of CGU assets to the Sports CGU. This has resulted in a \u20ac15.9 million reduction to the impairment previously recorded in the period to 30 June 2024. This matter will also be disclosed as a restatement in the 6-month period to 30 June 2025. Quickspin CGU Given the challenges of operating in an extremely competitive market with stricter regulations being introduced, the recoverable amount of the Quickspin CGU was impaired by \u20ac18.2 million in 2024 (2023: \u20ac9.6 million). The recoverable amount of this CGU of \u20ac6.4 million, with a carrying value of \u20ac24.6 million (pre-impairment) at 31 December 2024, has been determined using a cash flow forecast that includes annual revenue growth rates between 2.6% and -4.0% over the one to five-year forecast period (2023: annual revenue growth rates between 5.0% and 7.2%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 12.5% (2023: post-tax discount rate of 12.4%). If the revenue growth rate per annum is lower by 1%, then an additional impairment of \u20ac3.5 million would be recognised. Similarly, if the discount rate increases to a post-tax discount rate of 13.5% from 12.5%, this would result in a further impairment of \u20ac0.2 million. Eyecon CGU The Eyecon CGU recognised an impairment of \u20ac7.8 million in 2023. The CGU was largely in line with budget in 2024. The recoverable amount of this CGU of \u20ac15.8 million, with a carrying value equal to \u20ac10.2 million at 31 December 2024, was determined using a cash flow forecast that includes annual revenue growth rates of 5.0% over the one to five-year forecast period (2023: annual revenue growth rates between 2.0% and 11.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.6% (2023: post-tax discount rate of 15.1%). The recoverable amount would equal the carrying value of the CGU if: \u2022 the discount rate applied reached a post-tax discount rate of 20.0%. \u2022 the revenue growth was lower by 0.4% when compared to the forecasted average five-year growth. VB Retail CGU The recoverable amount of the VB Retail CGU showed signs of underperformance during H2 2024, mainly due to delays in securing new revenue streams. However, given the fact that new opportunities have been secured for 2025, no impairment has been recognised as at 31 December 2024. The recoverable amount of this CGU of \u20ac41.2 million, with a carrying value of \u20ac27.9 million at 31 December 2024, has been determined using a cash flow forecast that includes annual revenue growth rates between 18.0% and 4.5% over the one to five-year forecast period (2023: annual revenue growth rates between 8.0% and 13.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 11.25% (2023: post-tax discount rate of 12.7%). The recoverable amount would equal the carrying value of the CGU if: \u2022 the discount rate applied was higher by 39.7%, i.e. reaching a post-tax discount rate of 15.7%; or \u2022 the revenue growth was lower by 4.5% when compared to the forecasted average five-year growth.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-675": { "value": "Note 18 \u2013 Intangible assets
Patents,
domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2024
273.2
79.7
483.4
526.5
680.4
2,043.2
Additions
11.7
\u2014
50.0
\u2014
\u2014
61.7
Assets acquired through business combinations*
\u2014
\u2014
\u2014
\u2014
15.4
15.4
Reclassification to assets classified as held for
sale (Note 24)
(243.4)
\u2014
(12.3)
(245.3)
(307.6)
(808.6)
Disposal
\u2014
\u2014
(5.1)
\u2014
(3.4)
(8.5)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
41.6
79.7
516.0
281.2
384.8
1,303.3
Accumulated amortisation and
impairment losses
At 1 January 2024
177.3
75.4
349.9
408.0
151.4
1,162.0
Charge
40.8
1.8
45.2
21.2
\u2014
109.0
Impairment loss
2.1
0.1
20.6
26.5
70.4
119.7
Reclassification to assets classified as held for
sale (Note 24)
(180.4)
\u2014
(6.5)
(181.6)
(25.3)
(393.8)
Disposals
\u2014
\u2014
(5.1)
\u2014
(2.7)
(7.8)
Foreign exchange movement
0.1
\u2014
\u2014
\u2014
\u2014
0.1
At 31 December 2024
39.9
77.3
404.1
274.1
193.8
989.2
Net book value
At 31 December 2024
1.7
2.4
111.9
7.1
191.0
314.1
At 1 January 2024
95.9
4.3
133.5
118.5
529.0
881.2
* During 2024 the Group made acquisitions with net cash outflows of \u20ac12.0 million. Other than the MixZone acquisition which created goodwill of \u20ac1.2 million (Note 25F) all other assets created on business combinations were transferred to held for sale. See Note 24 for further details.
Patents, domain Customer
names and Development list and
licence Technology IP costs affiliates Goodwill Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cost
At 1 January 2023
222.4
79.7
428.4
523.5
676.6
1,930.6
Additions
51.0
\u2014
58.4
\u2014
\u2014
109.4
Assets acquired through business combinations
0.4
\u2014
\u2014
3.0
4.2
7.6
Disposal
(0.2)
\u2014
(3.4)
\u2014
(0.4)
(4.0)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
273.2
79.7
483.4
526.5
680.4
2,043.2
Accumulated amortisation and
impairment losses
At 1 January 2023
133.8
72.4
300.3
376.4
66.8
949.7
Charge
43.5
3.0
49.4
30.8
\u2014
126.7
Impairment loss
0.4
\u2014
3.6
0.8
85.0
89.8
Disposals
\u2014
\u2014
(3.4)
\u2014
(0.4)
(3.8)
Foreign exchange movement
(0.4)
\u2014
\u2014
\u2014
\u2014
(0.4)
At 31 December 2023
177.3
75.4
349.9
408.0
151.4
1,162.0
Net book value
At 31 December 2023
95.9
4.3
133.5
118.5
529.0
881.2
At 1 January 2023
88.6
7.3
128.1
147.1
609.8
980.9
During the year, the research and development costs net of capitalised development costs were \u20ac116.9 million (2023: \u20ac101.2 million). The internal capitalisation for the year was \u20ac48.8 million (2023: \u20ac56.7 million). Out of the total amortisation charge of \u20ac109.0 million (2023: \u20ac126.7 million), an amount of \u20ac29.0 million (2023: \u20ac42.6 million including continuing and discontinued operations) relates to the intangible assets acquired through business combinations. In accordance with IAS 36, the Group regularly monitors the carrying value of its intangible assets, including goodwill. Goodwill is allocated to 14 cash- generating units (CGUs) (2023: 13) out of which two CGUs are held for sale. The allocation of the goodwill to CGUs (excluding CGUs held for sale) is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
SNAI (Reclassified to assets held for sale)
\u2014
263.4
AUS GMTC
4.4
4.4
Bingo retail
9.5
9.5
Casino
50.8
50.8
Poker (\u20ac5.0 million reclassified to assets held for sale \u2013 Note 24)
10.6
15.6
Quickspin
\u2014
10.2
Sports B2B
\u2014
60.3
VB retail
4.6
4.6
Services
109.9
109.9
Sports B2C
\u2014
0.3
MixZone
1.2
\u2014
191.0
529.0
Management reviews CGUs for impairment bi-annually with a detailed assessment of each CGU carried out annually and whenever there is an indication that a unit may be impaired. During the annual detailed review, the recoverable amount of each CGU is determined from value in use calculations based on cash flow projections covering five years (using the Board-approved three-year plan along with a remaining two-year forecasted period) plus a terminal value which have been adjusted to take into account each CGU\u2019s major events as expected in future periods. A potential risk for future impairment exists should there be a significant change in the economic outlook versus those trends management anticipates in its forecasts due to the occurrence of these events. With the exception of CGUs which have been fully impaired to date and CGUs deemed sensitive to impairment from a reasonably possible change in key assumptions as reviewed in further detail below, management has used the Group\u2019s three-year plan, however extended it to five years and calculated the growth estimates for years one to five by applying an average annual growth rate for revenue based on the underlying economic environment in which the CGU operates and the expected performance over that period. Beyond this period, management has applied an annual growth rate of 2.0%. Management has included appropriate capital expenditure requirements to support the forecast growth and assumed the maintenance of the current level of licences. Management has also applied post-tax discount rates to the cash flow projections as summarised below. 2024 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2025\u20132029 rate applied
AUS GMTC
10.8%
11.46%
Bingo retail
8.8%
12.12%
Bingo VF
8.1%
13.49%
Casino
6.0%
11.59%
Services
(1.5%)
16.61%
Poker
0.8%
12.75%
2023 CGUs not sensitive to changes in assumptions:
Average
revenue
growth rate Discount
2024-2028 rate applied
SNAI
3.1%
15.2%
AUS GMTC
15.8%
13.1%
Bingo retail
4.9%
13.8%
Casino
4.7%
13.1%
Poker
4.0%
14.9%
In relation to the IGS, Sports B2B and Quickspin CGUs, following impairment tests completed in 2024, impairments have been recognised as disclosed below. Certain other CGUs, which are specifically referred to below but not impaired, are considered sensitive to changes in assumptions used for the calculation of value in use. IGS CGU (Impaired at 30 June 2024) The recoverable amount of the IGS CGU, with a carrying value of \u20ac4.9 million at 30 June 2024, has been determined using a cash flow forecast that includes annual revenue growth rates ranging between a decline of 19.9% to an increase of 59.0%, over the one to five-year forecast period (31 December 2023: annual revenue growth rates between 5.0% and 26.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 14.7% (31 December 2023: post-tax discount rate of 20.9%). Following the termination of two key contracts, the recoverable amount of this CGU is \u20acNil and hence the carrying value has been impaired by \u20ac4.9 million in the year ended 31 December 2024. Following the impairment posted, all assets have been impaired to the recoverable amount. Sports B2B CGU (Impaired at 30 June 2024) The recoverable amount of the Sports B2B CGU, with a carrying value of \u20ac113.0 million at 30 June 2024 (pre-impairment), has been determined using a cash flow forecast that includes annual revenue growth rates ranging between a decline of 6.5% to an increase 3.0%, over the one to five year forecast period (31 December 2023: annual revenue growth rates ranging from a decline of 20.0% and an increase of 15.0%), a 2.0% long-term growth rate (31 December 2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.7% (31 December 2023: post-tax discount rate of 13.7%). Following the announcement of the revised strategic agreement with Caliplay, which will impact the sports revenue generated from 2025 (when the conditions were met and the revised arrangements become effective from 31 March 2025 as announced on 21 March 2025), in addition to further expected reductions in revenue from other sports licensees, the recoverable amount of \u20ac16.6 million does not exceed the carrying value as stated above (pre-impairment) and therefore an impairment loss of \u20ac96.3 million was recognised in the year ended 31 December 2024 (31 December 2023: impairment of \u20ac72.2 million due to the termination of two key contracts). Following the impairment posted, all assets have been impaired to the recoverable amount. The impairment recorded in the interim review to 30 June 2024 contained an error due to the incorrect allocation of CGU assets to the Sports CGU. This has resulted in a \u20ac15.9 million reduction to the impairment previously recorded in the period to 30 June 2024. This matter will also be disclosed as a restatement in the 6-month period to 30 June 2025. Quickspin CGU Given the challenges of operating in an extremely competitive market with stricter regulations being introduced, the recoverable amount of the Quickspin CGU was impaired by \u20ac18.2 million in 2024 (2023: \u20ac9.6 million). The recoverable amount of this CGU of \u20ac6.4 million, with a carrying value of \u20ac24.6 million (pre-impairment) at 31 December 2024, has been determined using a cash flow forecast that includes annual revenue growth rates between 2.6% and -4.0% over the one to five-year forecast period (2023: annual revenue growth rates between 5.0% and 7.2%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 12.5% (2023: post-tax discount rate of 12.4%). If the revenue growth rate per annum is lower by 1%, then an additional impairment of \u20ac3.5 million would be recognised. Similarly, if the discount rate increases to a post-tax discount rate of 13.5% from 12.5%, this would result in a further impairment of \u20ac0.2 million. Eyecon CGU The Eyecon CGU recognised an impairment of \u20ac7.8 million in 2023. The CGU was largely in line with budget in 2024. The recoverable amount of this CGU of \u20ac15.8 million, with a carrying value equal to \u20ac10.2 million at 31 December 2024, was determined using a cash flow forecast that includes annual revenue growth rates of 5.0% over the one to five-year forecast period (2023: annual revenue growth rates between 2.0% and 11.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 13.6% (2023: post-tax discount rate of 15.1%). The recoverable amount would equal the carrying value of the CGU if: \u2022 the discount rate applied reached a post-tax discount rate of 20.0%. \u2022 the revenue growth was lower by 0.4% when compared to the forecasted average five-year growth. VB Retail CGU The recoverable amount of the VB Retail CGU showed signs of underperformance during H2 2024, mainly due to delays in securing new revenue streams. However, given the fact that new opportunities have been secured for 2025, no impairment has been recognised as at 31 December 2024. The recoverable amount of this CGU of \u20ac41.2 million, with a carrying value of \u20ac27.9 million at 31 December 2024, has been determined using a cash flow forecast that includes annual revenue growth rates between 18.0% and 4.5% over the one to five-year forecast period (2023: annual revenue growth rates between 8.0% and 13.0%), 2.0% long-term growth rate (2023: 2.0% long-term growth rate) and a post-tax discount rate of 11.25% (2023: post-tax discount rate of 12.7%). The recoverable amount would equal the carrying value of the CGU if: \u2022 the discount rate applied was higher by 39.7%, i.e. reaching a post-tax discount rate of 15.7%; or \u2022 the revenue growth was lower by 4.5% when compared to the forecasted average five-year growth.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-719": { "value": "Note 19 \u2013 Investments and derivative financial assets Introduction Below is a breakdown of the relevant assets at 31 December 2024 and 2023 per the consolidated balance sheet:
2024 2023
\u20ac\u2019m \u20ac\u2019m
A. Investments in associates
76.4
51.5
B. Other investments
152.1
92.8
C. Derivative financial assets
895.0
827.8
1,123.5
972.1
The following are the amounts recognised in the statement of comprehensive income:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit or loss
A. Share of loss from associates
(3.8)
(0.9)
B. Unrealised fair value changes of equity investments
51.1
(6.6)
C. Unrealised fair value changes of derivative financial assets
61.5
153.4
Other comprehensive income
Foreign exchange movement from the derivative call options and equity investments held in non-Euro functional currency
subsidiaries
12.4
(5.9)
121.2
140.0
Where the underlying derivative call option and equity investments are held in a non-Euro functional currency entity, the foreign exchange movement is recorded through other comprehensive income. As at 31 December 2024, the foreign exchange movement of the derivative call options held in Caliplay and NorthStar (Note 19C) is recorded in profit or loss as these options are held in Euro functional currency entities. The foreign exchange movement of the derivative call options held in Wplay, Onjoc, Tenbet, Tenlot El Salvador S.A. de C.V (\u201cTenlot El Salvador\u201d) (Note 19C) and the small minority equity investment in Hard Rock Digital (Note 19B) are recorded through other comprehensive income as these are held in USD functional currency entities. The recognition and valuation methodologies for each category are explained in each of the relevant sections below, including key judgements made under each arrangement as described in Note 6. A. Investments in associates Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
\u2014
\u2014
ALFEA SPA
1.6
1.7
Galera
\u2014
\u2014
LSports
65.6
35.2
Stats International
\u2014
\u2014
NorthStar
5.4
9.0
Sporting News Holdings Limited
5.4
5.6
Total investment in equity accounted associates
78.0
51.5
Transfer to held for sale
(1.6)
\u2014
Total investment in equity accounted associates (continued operations)
76.4
51.5
Profit and loss impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Share of loss in Galera
\u2014
\u2014
Share of profit in LSports
\u2014
2.1
Share of loss in NorthStar
(3.6)
(2.8)
Share of loss in Sporting News Holdings Limited
(0.2)
(0.2)
Total profit and loss impact
(3.8)
(0.9)
Balance sheet movement
Sporting
News
Holdings
LSports NorthStar Limited Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance as at 31 December 2023/1 January 2024
35.2
9.0
5.6
49.8
Transfer of fair value of the option on exercise
4.8
\u2014
\u2014
4.8
Total consideration to acquire additional 18% shareholding (pre-dilution)
25.8
\u2014
\u2014
25.8
Share of loss
\u2014
(3.6)
(0.2)
(3.8)
Dividend income
(0.2)
\u2014
\u2014
(0.2)
Balance as at 31 December 2024
65.6
5.4
5.4
76.4
Caliplay Background During 2014, the Group entered into an agreement with Tur\u00edstica Akalli, S. A. de C.V, which has since changed its name to Corporacion Caliente S.A. de C.V. (\u201cCaliente\u201d), the majority owner of Tecnologia en Entretenimiento Caliplay, S.A.P.I. de C.V (\u201cCaliplay\u201d), which is a leading online betting and gaming operator in Mexico which operates the \u201cCaliente\u201d brand in Mexico. The Group made a \u20ac16.8 million loan to September Holdings B.V. (previously the 49% shareholder of Caliplay), a company which is 100% owned by Caliente, in return for a call option that would grant the Group the right to acquire 49% of the economic interest of Caliplay for a nominal amount (the \u201cPlaytech Call Option\u201d). During 2021, Caliplay redeemed its share at par from September Holdings, which resulted in Caliente owning substantially all of the shares in Caliplay. The terms of the existing structured agreement were varied, with the following key changes: \u2022 A new additional option (in addition to the Playtech Call Option) was granted to the Group which allowed the Group to take up to a 49% equity interest in a new acquisition vehicle should Caliplay be subject to a corporate transaction \u2013 this additional option is only exercisable in connection with a corporate transaction and therefore was not exercisable at 31 December 2024 or 31 December 2023 (the \u201cPlaytech M&A Call Option\u201d). \u2022 Caliente received a put option which would require Playtech to acquire September Holding Company B.V. for a nominal amount (the \u201cSeptember Put Option\u201d). This option has been exercised and the parties are in the process of transferring legal ownership of September Holding Company B.V. to the Group. The Group has no equity holding in Caliplay and is currently providing services to Caliplay including technical and general strategic support services for which it receives income (including an additional B2B services fee as described in Note 9). If either the Playtech Call Option or the Playtech M&A Call Option is exercised, the Group would no longer be entitled to receive the additional B2B services fee (and will cease to provide certain related services) which for the year ended 31 December 2024 was \u20ac80.6 million (2023: \u20ac111.7 million). In addition to the above, from 1 January 2025, if there is a change of control of Caliplay or any member of the Caliente group which holds a regulatory permit under which Caliplay operates, each of the Group and Caliente shall be entitled (but not obligated), within 60 days of the time of such change of control, to require that the Caliente group redeems the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) acquires Playtech\u2019s 49% stake in Caliplay (together the \u201cCOC Option\u201d). If such change of control were to take place and the right to redeem/acquire were to occur, this would extinguish the Playtech Call Option (to the extent not exercised prior thereto) and the Playtech M&A Call Option. The COC option was historically considered in the valuation of the Playtech M&A Option (refer to Note 19C). Finally, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay also had an option to redeem the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire Playtech\u2019s 49% stake in Caliplay (together the \u201cCaliente Call Option\u201d). As per the public announcement made by the Group on 6 February 2023, the Group was seeking a declaration from the English Courts to obtain clarification on a point of disagreement between the parties in relation to the Caliente Call Option. The Group believes the Caliente Call Option has expired and referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. If the Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option. As per the public announcement made in September 2024, the Group agreed a revised strategic agreement related to Caliplay. Under these revised terms, Playtech will hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay, incorporated in the United States and be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the Board of Cali Interactive. In the meantime, there is an agreed standstill of all the existing legal proceedings between Caliente, Caliplay and Playtech which were disclosed in the audited accounts for the year ended 31 December 2023 and in Note 6 of these financial statements (including the point of disagreement on the Caliente Call Option above), and those proceedings will be dismissed in full once the revised arrangements come into effect. The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been received, and completion of the revised arrangements is scheduled to take place on 31 March 2025. On closing of the revised arrangements, the Playtech Call Option, the Caliente Call Option and the COC Option will cease to exist and the Playtech M&A Call Option will have been exercised. Refer to Note 19C for further details. Assessment of control and significant influence As at 31 December 2024 and 2023 it was assessed that the Group did not have control over Caliplay, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 Despite the Group previously having a nominated director on the Caliplay board in 2020 and having consent rights on certain decisions (in each case, removed in 2021), there was no ability to control the relevant activities. \u2022 The Playtech Call Option or the Playtech M&A Call Option, if exercised, would result in Playtech having up to 49% of the voting rights and would not result in Playtech having control. \u2022 Whilst the Group currently does receive variable returns from its strategic agreement, it does not have the power to direct relevant activities so any variation cannot arise from such a power. As at 31 December 2024 and 2023, the Group has significant influence over Caliplay because it meets one or more of the criteria under IAS 28, paragraph 6 as follows: \u2022 The standard operator revenue by itself is not considered to give rise to significant influence; however, when combined with the additional B2B services fee, this is an indicator of significant influence. \u2022 The material transaction of the historical loan funding is also an indicator of significant influence. Accounting for each of the options The Playtech Call Option was exercisable at 31 December 2024 and 31 December 2023, although it was still unexercised as at 31 December 2024. As the Group has significant influence and the option is exercisable, the investment is recognised as an investment in associate using the equity accounting method which includes having current access to profits and losses. The cost of the investment was previously deemed to be the loan given through September Holdings of \u20ac16.8 million, which at the time was assessed under IAS 28, paragraph 38 as not recoverable for the foreseeable future and part of the overall investment in the entity. In 2021, with the introduction of the September Put Option, the investment in associate relating to the original Playtech Call Option was reduced to zero and the \u20ac16.8 million original loan amount was determined by management to be the cost of the new Playtech M&A Call Option and therefore fully offset the balance of \u20ac16.8 million against the overall fair value movement of the Playtech M&A Call Option (refer to part C of this Note). The Playtech M&A Call Option is not currently exercisable (although it will be amended, become exercisable and will be exercised in connection with the closing of the revised strategic agreement) and therefore in accordance with IAS 28, paragraph 14 has been recognised as derivative financial asset, and disclosed separately under part C of this Note. As per the judgement in Note 6, the Group did not consider it appropriate to equity account for the share of profits as the current 100% shareholder is entitled to any undistributed profits. Below is the financial information of Caliplay:
31 December 31 December
2024
1
2023
2
\u20ac\u2019m \u20ac\u2019m
Current assets
191.8
215.0
Non-current assets
18.2
23.9
Current liabilities
(204.5)
(123.6)
Non-current liabilities
\u2014
\u2014
Equity
5.5
115.3
Revenue
863.7
759.4
Profit from continuing operations
36.3
58.8
Other comprehensive income/(loss), net of tax
(20.5)
10.4
Total comprehensive income
15.8
69.2
1 The 2024 balances above have been extracted from Caliplay\u2019s draft 2024 financial statements. 2 The 2023 balances have been extracted from Caliplay\u2019s 2023 audited financial statements. Investment in ALFEA SPA The Group has held 30.7% equity shares in ALFEA SPA since June 2018. At 31 December 2024, the Group\u2019s value of the investment in ALFEA SPA was \u20ac1.6 million (31 December 2023: \u20ac1.7 million). A share of loss of \u20ac0.1 million was recognised in profit or loss within discontinued operations for the year ended 31 December 2024 (2023: a share of profit of \u20ac0.1 million was recognised in profit or loss within discontinued operations).The investment was shown as held for sale as at 31 December 2024. Investment in Galera In June 2021, the Group entered into an agreement with Ocean 88 Holdings Ltd (Ocean 88) (shareholder of Galera Gaming Group (together \u201cGalera\u201d), a company registered in Brazil. Galera offers and operates online and mobile sports betting and gaming (poker, casino, etc.) in Brazil. They will continue to do so under the local regulatory licence, which was obtained and became effective 1 January 2025, when regulation went live in Brazil. The Group\u2019s total consideration paid for the investment in Galera was $5.0 million (\u20ac4.2 million) in the year ended 31 December 2021, which was the consideration for the option to subscribe and purchase from Galera an amount of shares equal to 40% in Galera at nominal price. In addition to the investment amount paid, Playtech made available to Galera a line of credit up to $20.0 million. In 2022, an amendment was signed to the original framework agreement to increase the credit line to $45.0 million. As at 31 December 2024, an amount of \u20ac43.0 million, which is included in loans receivable from related parties (refer to Note 33), has been drawn down (31 December 2023: \u20ac39.2 million). An amount of \u20ac1.4 million has been loaned in the year ended 31 December 2024. The loan is required to be repaid to Playtech prior to any dividend distribution to the current shareholders of Galera. Galera repaid Playtech \u20ac1.5 million in the year ended 31 December 2024. The remainder of the year on year movement is additional interest charged, as well as foreign exchange gain on retranslation of the loan, which is denominated in US Dollars. The Group recognised an allowance for expected credit losses (ECL) for this loan of \u20ac2.8 million at 31 December 2024 (2023: \u20ac1.6 million). In respect of the loan receivable from Galera under this credit line, even though the framework agreement does not state a set repayment term, management has assessed that this should still be recognised as a loan as opposed to part of the overall investment in associate in line with IAS 28. The Directors have made a judgement that the loan will be settled from operational cash flows as opposed to being settled as part of an overall transaction. The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses as at 31 December 2022. The Galera Group continues to be loss-making as at 31 December 2024 and 31 December 2023. On 6 November 2023, Ocean 88 acquired 60% of F12.bet. Playtech loaned Galera the amount of $10.1 million (\u20ac9.5 million) for the acquisition of F12.bet. As at 31 December 2024, this amount was \u20ac10.1 million and is included in loans receivable from related parties (31 December 2023: \u20ac9.6 million) (refer to Note 33). The loan is repayable within five years from the disbursement date, in November 2028. The Group recognised an allowance for ECL for this loan of \u20ac0.7 million as at 31 December 2024 (2023: \u20ac0.4 million). On 15 May 2024, Playtech loaned an additional $10.0 million (\u20ac9.2 million) to Galera to acquire 60% of Luva.bet. Luva.bet is a recently established operator targeting the Brazilian market which commenced operations in April 2023. As at 31 December 2024, an amount of \u20ac9.5 million is included in loans receivable from related parties (Note 33). The loan is repayable within five years from the disbursement date, in May 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. On 6 December 2024, Playtech provided an additional credit facility of 70.0 million BRL (\u20ac11.0 million) to Galera to assist them in acquiring the Brazil licenses. An amount of \u20ac9.2 million was withdrawn as at 31 December 2024 and is included in loans receivable from related parties (Note 33). The loan is repayable in November 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. An additional ECL percentage of 5% was recorded for all Galera loans at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation within a country. This includes risks related to system integration, user experience, and compliance monitoring, which could result in the loss of players due to operational disruptions, penalties and loss of licenses for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023: \u20ac2.0 million). The total outstanding loans to Ocean88 as at 31 December 2024 is \u20ac71.8 million (31 December 2023: \u20ac48.8 million), including interest. Playtech has assessed whether it holds power to control Galera and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 40% voting right over the operating entity and therefore no control. Under the agreement in place: \u2022 the standard operator income to be generated from services provided to Galera when combined with the additional B2B services fee, the loan and certain other contractual rights, are all indicators of significant influence; and \u2022 the Group provides standard B2B services (similar to services provided to other B2B customers) as well as additional services to Galera that Galera requires to assist it in successfully running its operations, which could be considered essential technical information. Considering the above factors, the Group has significant influence under IAS 28, paragraph 6 over Galera. As the option is currently exercisable and gives Playtech access to the returns associated with the ownership interest, the investment is treated as an investment in associate. Playtech\u2019s interest in Galera is accounted for using the equity method in the consolidated financial statements. Galera is currently loss- making. If the call option is exercised by Playtech, the Group will no longer provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 (2023: \u20acNil). The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses. Investment in LSports Background In November 2022, the Group acquired 15% of Statscore for \u20ac1.8 million, making it a 100% subsidiary. Subsequently, the Group disposed of 100% of Statscore to LSports Data Ltd (\u2018\u2019LSports\u2019\u2019) for \u20ac7.5 million, less a novated inter-company loan of \u20ac1.6 million, resulting in a non-cash net consideration of \u20ac5.9 million. Additionally, the Group acquired 31% of LSports for \u20ac36.7 million, which included an option to acquire up to 18% more shares. Of the total consideration, \u20ac29.2 million was paid in cash. The Group exercised its option to acquire up to 49% (an additional 18%) of the equity of LSports in September 2024, increasing their shareholding to 49%. The Group paid LSports \u20ac18.9 million, calculated based on a valuation of LSports at \u20ac115.0 million. Upon finalisation of LSports\u2019 annual audited financial statements for the year ended 31 December 2024, an additional consideration of \u20ac6.9 million, based on EBITDA multiplied by a factor of seven, was recorded as deferred consideration and was paid in March 2025 (Note 38). Under IFRS 10, paragraph 7, the Company does not have control over the investee despite being the largest shareholder in LSports by holding 49% because the rest of the 51% shareholders form a consortium by virtue of being related (Note 6). LSports is a company whose principal activity is to empower sportsbooks and media companies with the highest quality sports data on a wide range of events, so they can build the best product possible for their business. The company is based in Israel. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports data market segment. Assessment of control and significant influence As at the date of acquisition, 31 December 2024 and 2023, it was assessed that the Group did not have control over LSports, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite the appointment and representation on the board of directors by a Playtech employee as at 31 December 2024, there is still no ability to control the relevant activities, as the total number of directors including the Playtech appointed director is five; \u2022 Playtech has neither the ability to change any members of the board nor of the management of LSports; and \u2022 as of 31 December 2024, despite Playtech\u2019s shareholding being 49%, under IFRS 10, paragraph 7, the Group does not have control over LSports because the other combined shareholding/voting power exceeds 50% and is collectively held by family members. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over LSports because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being the Playtech employee appointed on the board of LSports, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment, LSports has been recognised as an investment in associate. Purchase Price Allocation (PPA) The Group prepared an initial PPA following the acquisition of the investment in 2022, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of the LSports identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. The Group prepared an updated PPA in September 2024 upon acquiring the additional 18% stake in LSports. The difference again resulted in goodwill, included in the investment\u2019s carrying amount. Details of Playtech\u2019s share of net fair value of the identifiable assets and liabilities acquired are as follows:
Playtech\u2019s share of net fair
value of the identifiable assets
and liabilities acquired
2024
\u20ac\u2019m
Net book value of assets acquired
3.7
Fair value of customer contracts and relationships
28.4
Fair value of technology \u2013 internally developed
23.4
Fair value of brand
4.8
Deferred tax arising on acquisition
(4.3)
Total net assets
56.0
Resulting goodwill 14.0
The total share of profit recognised in profit or loss in the year ended 31 December 2024 from the investment is LSports was \u20acNil million (2023: \u20ac2.1 million). This includes the amortisation of intangibles and the release of the deferred tax liability, arising from the original acquisition of the investment and subsequent exercise of the option (2024: \u20ac2.9 million, 2023: \u20ac2.1 million) and the share of the LSports profits (2024: \u20ac2.9 million, 2023: \u20ac4.2 million), with a corresponding entry against the investment in associate on the consolidated balance sheet. During 2024, the Group received a dividend of \u20ac0.2 million from LSports (2023: \u20ac1.8 million), which reduced the investment in associate value in the consolidated balance sheet. Below is certain financial information of LSports:
31 December 31 December
2024
1
2023
1
\u20ac\u2019m \u20ac\u2019m
Current assets
9.5
10.9
Non-current assets
43.0
26.8
Current liabilities
(8.7)
(6.6)
Non-current liabilities
(8.3)
(2.3)
Equity
35.5
28.8
1 The 2024 and 2023 balances above have been extracted from LSport\u2019s audited consolidated financial statements. Investment in Stats International Background In January 2022, the Group provided a $2.3 million loan to Stats International Limited (\u201cStats\u201d), at an interest rate of 3.5% and a repayment date of 30 June 2024. As at 31 December 2024, the carrying value of the loan was \u20ac2.4 million and is included in loans receivable from related parties (Note 33) (2023: \u20ac2.2 million). The Stats group\u2019s business activities are focused on securing rights in connection with sporting competitions and the exploitation of the same, typically in exchange for the payment of certain fees and provision of analytical and statistical services by the Stats group to the relevant rightsholder. The initial focus of the Stats group is on Brazilian sports competitions. In May 2023, the Group and Stats signed an amended loan agreement which, amongst other things, changed the repayment obligations such that the final repayment date will be 31 December 2026 and the loan agreement will be novated from Stats to Jewelrock (Stats\u2019 sole shareholder) in consideration of $1. Moreover, a framework agreement was signed between Stats and Playtech whereby Playtech, for a \u20ac1 consideration, has been granted the option to acquire from Jewelrock 36% of the issued share capital of Stats. Finally, Playtech entered into a service agreement whereby Playtech provides Stats its business development and knowledge-sharing services in connection with the operational and industry standard procedures of Stats in exchange for additional B2B services fee as per Note 9. As the business is still a start-up, the additional B2B services fee as at 31 December 2024 was \u20acNil (2023: \u20acNil). Once the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The option may be exercised at any time but prior to the termination of all sporting rights agreements. It shall also lapse on the expiry or termination of the Playtech service agreement in accordance with its terms or at the written election of Playtech. Playtech has assessed whether it holds power to control the investee and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 36% voting right over the operating entity and therefore no control. However, Playtech has assessed whether the Group has significant influence over Stats and due to the existence of the service agreement whereby Playtech would be assisting a start-up business by providing knowledge-sharing services, these could be considered essential technical information. Considering this, it was concluded that the Group has significant influence under IAS 28, paragraph 6, over Stats. The cost of the option, which was considered to be the inherent value of Playtech allowing the loan repayment date to be extended, is considered negligible. No share of profits/losses have been recognised as at 31 December 2024 in profit or loss as these were immaterial. Investment in NorthStar Background NorthStar Gaming Inc. is a Canadian gaming brand incorporated in Ontario in Q4 2021. In Q2 2022, NorthStar received its license from the Alcohol and Gaming Commission of Ontario (AGCO) and launched its online gaming site, www.northstarbets.ca, offering regulated sports betting markets and a curated casino experience. Playtech saw this as an opportunity to expand its presence in the growing Canadian betting market. In December 2022, the Group issued NorthStar a convertible loan of CAD 12.25 million, which could be converted into common shares, A warrants, and B warrants upon the completion of a reverse takeover (RTO) transaction. Baden Resources, listed on the TSX, agreed to acquire NorthStar through an RTO. The loan\u2019s fair value as of 31 December 2022 was \u20ac8.4 million. In March 2023, the RTO was completed, and Baden Resources was renamed NorthStar Gaming Holdings (\u201cNorthStar\u201d). This triggered the automatic conversion of the Group\u2019s loan into NorthStar common shares, which were then exchanged for NorthStar common shares. The Group also received NorthStar Warrants, exercisable at CAD 0.85 and CAD 0.90 per share, expiring on the fifth anniversary of their issue. In September 2023, the Group entered into a subscription agreement with NorthStar, acquiring additional shares and warrants (exercisable at CAD 0.36 and CAD 0.40 per share) for CAD 5.0 million. This investment closed in October 2023, and Playtech also loaned NorthStar an 8% senior convertible debenture for CAD 5.0 million. As of 31 December 2024, Playtech owns approximately 25.8% of NorthStar\u2019s issued and outstanding common shares (down from 27.5% as of 31 December 2023 following NorthStar\u2019s issue of new shares in June 2024). If the convertible debenture is converted and all warrants are exercised, Playtech could potentially increase its stake to over 40%. The Group\u2019s convertible debenture has been classified at fair value through profit or loss based on IFRS 9 criteria. As at 31 December 2024, an amount of CAD 5.5 million (\u20ac3.6 million) is included in loans receivable from related parties (31 December 2023: \u20ac3.4 million) (Note 33). The loan is required to be repaid to Playtech by October 2026 or upon conversion (to the extent not fully converted) once conversion criteria are met. In April 2024, the Group signed a promissory note with NorthStar for the amount of CAD 3.0 million (\u20ac2.1 million), which is included in current assets as loans receivable from related parties (Note 33). The principal and the outstanding interest under the promissory note are required to be paid the earliest of: i. 12 months from April 2024; ii. the date on which Playtech declares the Indebtedness to be immediately due and payable following the occurrence of an event of default (as defined in agreement between Playtech and NorthStar); iii. the date on which NorthStar or any of its subsidiaries complete an offering of debt or equity securities to one or more third parties that, when aggregated with any other financing completed, results in gross proceeds to NorthStar and its subsidiaries of at least CAD 10 million. In September 2024 and December 2024 further promissory notes to the value of CAD 3.0 million (\u20ac2.1 million) and CAD 3.5 million (\u20ac2.3 million) respectively were issued to NorthStar to assist with its growth plans while establishing more medium to long-term financing, which are included in current assets as loans receivable from related parties (Note 33). All three of these promissory notes were repaid by NorthStar in January 2025 (Note 38). The fair value of all of Playtech\u2019s warrants is \u20acNil as at 31 December 2024 (2023: \u20acNil) (refer to Note 19C). Assessment of control and significant influence As at 31 December 2024 and 2023, it was assessed that the Group did not have control over NorthStar, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite representation on the NorthStar board of directors by Playtech\u2019s CFO and one more Playtech employee at 31 December 2023 and 31 December 2024, there is still no ability to control the relevant activities, as the total number of appointed directors is eight; and \u2022 Playtech has neither the ability to change any other members of the NorthStar board nor the management of NorthStar. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over NorthStar because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being that it has two appointed members sitting on the board of NorthStar, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment NorthStar has been recognised as an investment in associate. The NorthStar warrants are fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9 (refer to Note 19C). Purchase Price Allocation (PPA) The Group prepared a PPA following the acquisition of the investment, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of NorthStar\u2019s identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. Up until October 2023, Playtech\u2019s shareholding was diluted to 15% due to NorthStar issuing more shares as part of an acquisition they completed in May 2023. Playtech\u2019s shareholding at 31 December 2024 was 25.8% (31 December 2023: 27.5%). Playtech\u2019s shareholding decrease from 2023 to 2024 is due to NorthStar issuing more shares to new and existing shareholders. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in NorthStar was \u20ac3.6 million (2023: \u20ac2.8 million). This includes the amortisation of intangibles, arising on acquisition, and the share of NorthStar\u2019s losses, with a corresponding entry against the investment in associate on the consolidated balance sheet. Investment in Sporting News Holdings Limited Background In August 2023, the Group acquired 12.6% of Sporting News Holdings Limited (\u201cTSN\u201d), for a total consideration of $6.3 million (\u20ac5.8 million). TSN\u2019s principal activities are the sale of digital advertising and the offering of media services, the provision of multimedia sports content across internet-enabled digital platforms and the distribution directly to customers and business clients around the world. The company is incorporated in the Isle of Man. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports and media market segment. Assessment of control and significant influence As at the date of acquisition and at 31 December 2024 it was assessed that the Group did not have control over TSN, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite Playtech having the right to appoint a director on the TSN board, as at 31 December 2024 and 31 December 2023, one had not yet been appointed. Playtech has preferred to only appoint an observer to the board. Moreover, once Playtech appoints a director, there is still no ability to control the relevant activities, as the total number of directors including potentially one Playtech appointed director will be five; and \u2022 Playtech has neither the ability to change any members of the board nor of the management of TSN. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024, the Group has significant influence over TSN because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being Playtech having the ability to appoint a member on the board of TSN, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment TSN has been recognised as an investment in associate. The cost of the investment was deemed to be the consideration paid for the shares of $6.3 million (\u20ac5.8 million) in August 2023. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in TSN was \u20ac0.2 million (2023: \u20ac0.2 million). Other investments in associates that are fair valued under IFRS9 per IAS 28, paragraph 14 The following are also investments in associates where the Group has significant influence but where the option is not currently exercisable. As there is no current access to profits, the relevant option is fair valued under IFRS 9, and disclosed as derivative financial assets under part C of this Note: \u2022 Wplay; \u2022 Tenbet (Costa Rica); \u2022 Onjoc (Panama); and \u2022 Tenlot El Salvador S.A. de C.V The financial information required for investments in associates, other than Caliplay and LSports, has not been included here as from a Group perspective the Directors do not consider them to have a material impact jointly or separately. B. Other investments Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Listed investments
11.1
15.8
Investment in Tenlot Guatemala
\u2014
\u2014
Investment in Tentech Costa Rica
\u2014
\u2014
Investment in Gameco
\u2014
\u2014
Investment in Hard Rock Digital
141.0
77.0
Total other investments
152.1
92.8
Statement of comprehensive income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit and loss
Change in fair value of equity investments
51.1
(6.6)
Impairment of investment in Gameco (included in the impairment of financial assets)
\u2014
(1.3)
51 .1
(7.9)
Other comprehensive income
Foreign exchange movement from equity investments held in a non-Euro functional subsidiary
6.4
(2.6)
Listed investments The Group has shares in listed securities, which includes new shares purchased during the year for \u20ac1.8 million (2023: \u20ac14.3 million). The fair values of these equity shares are determined by reference to published price quotations in an active market. For the year ended 31 December 2024, the fair values of these listed securities have decreased by \u20ac6.5 million (2023: increased by \u20ac0.1 million). Investment in Tenlot Guatemala In 2020, the Group entered into an agreement with Tenlot Guatemala, a member of the Tenlot Group. Tenlot Guatemala, which is in the lottery business in Guatemala, commenced its activity in 2018. The Group acquired a 10% equity holding in Tenlot Guatemala for a total consideration of $5.0 million (\u20ac4.4 million) in 2020, which has been accounted at fair value through profit or loss under IFRS 9. The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNil because of changes to market conditions which led to changes in its original business plans. The fair value of the equity holding has decreased by \u20ac4.4 million to \u20acNil in the year ended 31 December 2023. In addition, the Group was granted a 10% equity holding in Super Sports S.A. at no additional cost. The Group also has an option to acquire an additional 80% equity holding in Super Sports S.A. If the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil for the year ended 31 December 2024 (2023: \u20acNil). There are no conditions attached to the exercise of the option. The right of exercising the call option at any time and the acquisition of the additional 80% in Super Sports S.A. give Playtech: \u2022 power over the investee; \u2022 exposure, or rights, to variable returns from its involvement with the investee; and \u2022 the ability to use its power over the investee to affect the amount of the investor\u2019s returns. It therefore satisfies all the criteria of control under IFRS 10, paragraph 7 and, as such, at 31 December 2024 Super Sports S.A. has been consolidated in the consolidated financial statements of the Group, noting that this is not material from a Group perspective. Investment in Tentech Costa Rica In 2020, the Group entered into an agreement in Costa Rica with the Tenlot Group. The Group acquired a 6% equity holding in Tentech CR S.A., a member of the Tenlot Group, for a total consideration of $2.5 million (\u20ac2.1 million). Tentech CR S.A. sells printed bingo cards in accordance with article 29 of the Law of Raffles and Lotteries of Costa Rica (CRC \u2013 Costa Rican Red Cross Association). The 6% equity holding in Tentech CR S.A. is accounted at fair value through profit or loss under IFRS 9. The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNi because of changes to market conditions which led to changes in its original business plans. The fair value of the equity holding has decreased by \u20ac2.3 million to \u20acNil in the year ended 31 December 2023. Investment in Gameco In 2021, the Group entered into a convertible loan agreement with GameCo LLC (\u201cGameco\u201d), where it provided $4.0 million (\u20ac3.8 million) in the form of a debt security with 8% interest. In December 2022, Gameco acquired Green Jade Games and, subsequently, the Playtech debt was converted into equity shares, representing a 7.1% interest in the newly formed group. Immediately prior to the conversion, the loan was impaired by \u20ac3.0 million, and this has been recognised in profit or loss in the prior year. The 7.1% equity holding in the newly formed group was accounted at fair value through profit or loss under IFRS 9 at 31 December 2022. As at 31 December 2024 and 2023, the fair value of the equity holding has been \u20acNil. Investment in Hard Rock Digital In March 2023, the Group invested $85.0 million (\u20ac79.8 million in March 2023, \u20ac77.0 million at 31 December 2023) in Hard Rock Digital (HRD) in exchange for a small minority interest in a combination of equity shares and warrants. HRD is the exclusive Hard Rock International vehicle for interactive gaming and sports betting on a global basis and the primary vendor to the Seminole Tribe of Florida (the \u201cSeminole Tribe\u201d) for sports betting in the State of Florida. During late 2023 and 2024 positive outcomes were received in respect of claims made in both the Federal and Supreme Courts. Following this, sports betting was re-launched in Florida by the Seminole Tribe. The Group assessed whether the warrants met the definition of a separate derivative as per IFRS 9. A financial instrument or other contract should have all three of the following characteristics: \u2022 its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable, provided, in the case of a non-financial variable, that the variable is not specific to a party to the contract (sometimes called the \u201cunderlying\u201d); \u2022 it requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; and \u2022 it is settled at a future date. Management made a judgement that the warrants did not meet the definition of a separate derivative asset as: (i) the value of the warrants is part of the total investment and cannot be distinguished between the two and therefore the value of the warrants was deemed to be equal to the equity shares value; and (ii) the consideration was paid at the time of the transaction. Furthermore, the equity investment did not meet the definition of held for trading, as the investment was acquired for long-term investment purposes and with no current intention for sale. The investment was therefore classified as an investment held at fair value through profit or loss with initial and subsequent recognition at fair value, with any subsequent gain/loss recognised in profit or loss. In the year ended 31 December 2024, the Group received a dividend of \u20ac3.1 million (2023: \u20acNil) from HRD, recognised in finance income. Valuation The Group has assessed the fair value of the investment at 31 December 2024 by applying a DCF approach with a market exit multiple assumption to the two CGUs within the investment. The discount rate and exit multiples used were within the range of 19%-29% and 8.5x-10.0x respectively. Due to the small minority interest and the limited influence Playtech has over HRD, the Group included a discount for lack of control of 10%, as well as a 15%-20% discount for lack of marketability due to the shares not being publicly traded. As at 31 December 2024, the fair value of the equity investment in HRD increased to \u20ac141.0 million ($146.5 million). The difference of \u20ac64.0 million between the fair value at 31 December 2023 of \u20ac77.0 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac57.6 million derived from the fair value increase of the equity investment calculated using the DCF model in profit or loss for the period ended 31 December 2024. The increase was mainly driven by the performance of the business, positive developments in the regulatory environment which primarily aided the relaunch of the Florida sports operations by the Seminole Tribe in late 2023. b. \u20ac6.4 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the equity investment is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024. The Group will continue to monitor the development of the HRD business including the wider regulatory landscape internationally, as well as in the key operational states in the US which can impact the value of the equity investment. Sensitivity analysis The assumptions and judgements made in the valuation of the equity investment as at 31 December 2024 include the following sensitivities, noting that factors and circumstances, for example regulatory changes, that may arise that are outside the Group and HRD\u2019s control which could impact the option value positively or negatively: \u2022 A plus or minus shift of 5% to the discount rates used will result in a fair value of the equity investment within the range of \u20ac127.1 million \u2013 \u20ac159.8 million. \u2022 An increase or decrease of 2.0x on the 2029 exit multiple will result in a fair value change of the equity investment within the range of \u20ac124.7 million to \u20ac157.9 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the equity investment within the range of \u20ac105.9 million \u2013 \u20ac190.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the equity investment within the range of \u20ac130.0 million \u2013 \u20ac152.6 million. C. Derivative financial assets Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Playtech M&A Call Option (Caliplay)
801.9
730.2
Wplay
84.7
88.0
Onjoc
3.4
3.1
Tenbet
0.4
1.7
Tenlot El Salvador S.A. de C.V
4.6
\u2014
NorthStar warrants (Note 19A)
\u2014
\u2014
LSports (Note19A)
\u2014
4.8
Total derivative financial assets
895.0
827.8
Statement of comprehensive income impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
Fair value change of Playtech M&A Call Option
26.1
180.9
Foreign exchange movement to profit or loss
45.6
(16.0)
Wplay
Fair value change in Wplay
(9.0)
(2.7)
Foreign exchange movement recognised in other comprehensive income
5.7
(2.8)
Onjoc
Fair value change in Onjoc
0.1
(5.3)
Foreign exchange movement recognised in other comprehensive income
0.2
(0.2)
Tenbet
Fair value change in Tenbet
(1.3)
(6.9)
Foreign exchange movement recognised in other comprehensive income
\u2014
(0.3)
Tenlot El Salvador S.A. de C.V
Fair value change in Tenlot El Salvador S.A. de C.V
\u2014
\u2014
Foreign exchange movement recognised in other comprehensive income
0.1
\u2014
LSports
Fair value change of call option (Note 19A)
\u2014
3.4
Total comprehensive income impact
67.5
150.1
Caliplay The Playtech M&A Call Option is not currently exercisable and therefore in accordance with IAS 28, paragraph 14 has been recognised as a derivative financial asset and fair valued under IFRS 9. As further disclosed in Note 19A, in September 2024 Playtech has signed a revised strategic agreement in relation to Caliplay in which the Playtech M&A Call Option currently held by Playtech would be amended so that on exercise Playtech will receive a 30.8% equity interest in Caliente Interactive Inc, Caliplay\u2019s newly incorporated US holding company. Exercise of the amended Playtech M&A Call Option will occur in connection with closing of the revised arrangements, with the 30.8% shareholding (the \u201cEquity Right\u201d), being achieved after taking account of the rights of its service providers. The completion of these revised arrangements, which were announced in September 2024, was conditional upon Mexican antitrust approval, which was received in March 2025, with closing now scheduled for 31 March 2025. Furthermore, there is currently an agreed standstill of all current legal proceedings between Caliente, Caliplay and Playtech, and those proceedings will be dismissed in full once the revised arrangements come into effect. Under the Equity Right scenario, Playtech will: \u2022 no longer be entitled to the additional B2B services fee; \u2022 have certain customary shareholder rights, including the right to appoint a Director to the Board of Cali Interactive for so long as Playtech\u2019s equity interest is at least 15% of Cali Interactive; and \u2022 subject to available cash and applicable law, Playtech and all other Cali Interactive stockholders will receive dividends, at least quarterly, pursuant to an agreed dividend policy. Whilst the resultant 30.8% shareholding on closing of the revised arrangements is less than the 49% interest (before taking account of the rights of the Playtech Group\u2019s service providers) which the Playtech Group would have held in Caliplay were it to have exercised the existing Playtech M&A Call Option, the Playtech Group was willing to accept this reduced interest in the context of the terms of these revised arrangements taken as a whole which include: (i) the resultant settlement and dismissal of all legal proceedings between Caliente, Caliplay and Playtech; (ii) the receipt (and/or payment into escrow) of the entirety of the outstanding fees owing to the Playtech Group; (iii) Playtech holding shares in a newly incorporated US holding company of Caliplay; and (iv) the Caliente Call Option and the COC Option (and the Playtech Call Option) ceasing to exist with the Playtech M&A Call Option having been exercised. At 31 December 2024, a key judgement was made that the Group is certain that the revised arrangements with Caliplay would complete in H1 2025, and as such only valued Playtech\u2019s 30.8% Equity Right. As at 31 December 2023, the Group valued the existing Playtech M&A Option using a DCF approach with a market exit multiple assumption. The Group also made assumptions on the probability of a possible transaction that may be completed on a number of exit date scenarios over a five-year period, until December 2028. Management did not model a scenario of no exit as this was considered highly remote. Finally, taking account of matters arising in the period, Playtech included some probability weighted scenarios to consider the impact of the COC Option as explained in part A of this Note, noting that the probabilities assigned to this scenario were above zero but low. Valuation The Group has assessed the fair value of the Equity Right as at 31 December 2024 using the income approach, which estimates the value of the Equity Right based on the value of the expected future cash flows generated by Caliplay. The Group\u2019s view of a reasonable market participant base discount rate for the 31 December 2024 valuation is 1% higher than last year. However, as Playtech was certain at 31 December 2024 that the revised arrangements will complete in 2025 and that therefore the legal proceedings will subsequently be dismissed, the Group removed the additional company-specific premium (of 5%) from the discount rate used in the valuation as at 31 December 2023. The discount rate used for the valuation of the Equity Right was 16% as at 31 December 2024 (2023: 20%). The Group used a compound annual growth rate of 23.7% (2023: 17.0%) on revenue over the forecasted cash flow period, an average Adjusted EBITDA margin of 23.5% (2023: 31.3%) and an exit multiple of 8.75x (2023: 7.7x). The change in Adjusted EBITDA margin is due to changes in marketing strategies that impacted 2024 actuals and going forward into 2025 and beyond. The increase in the exit EBITDA multiple is supported by the observed median EV/EBITDA multiple of the publicly listed peers as at 31 December 2024 and share price increases. Given the fact that under the revised arrangements related to Caliplay, the Equity right will be 30.8%, the Group applied a 5% discount for lack of control (DLOC) on the value of Playtech\u2019s indirect stake in Caliplay, reflecting the fact that Playtech will not have control of Caliplay but it will continue to have significant influence (Note 19A) with the ability to appoint a director on the board and voting rights in proportion to its shareholding. The Group also included an additional discount for lack of marketability (DLOM) of 15% for the non-marketable equity right (2023: 10.0%). Furthermore, as part of the restructured arrangements, Playtech\u2019s stake in Caliplay was adjusted to reflect the rights to Caliplay shares that a service provider is entitled (currently also entitled to part of the value of the Playtech M&A Call Option). As at 31 December 2024, the fair value of the Playtech M&A Call Option was $833.0 million (2023: $805.8 million) which converted to \u20ac801.9 million (2023: \u20ac730.2 million). The year-on-year change in the fair value of the Playtech M&A call option is a combination of an uplift from: \u2022 the decrease in the discount rate to remove the 5% litigation risk included in the discount rate as at 31 December 2023; \u2022 the increase in the exit multiple as explained above; \u2022 favourable movement in the USD to EUR foreign exchange rate; \u2022 the roll forward of the valuation due to passage of time. These were partially offset by: \u2022 the change in methodology. In December 2023, the valuation was based on an entitlement to 49% (pre share of service provider) of the equity value on exercise of a call option (considering the impact of both the Playtech M&A Call Option and the COC Option). Based on the revised arrangements signed in September 2024, the equity stake to be held in Caliente Interactive Inc. (Caliplay\u2019s newly incorporated US holding company) has decreased to 30.8% (post share of service provider). Sensitivity analysis The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value: \u2022 A different discount rate within the range of 11% to 21% will result in a fair value of the derivative financial asset in the range of \u20ac725.8 million \u2013 \u20ac889.5 million. \u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac763.4 million \u2013 \u20ac840.4 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac724.9 million \u2013 \u20ac878.9 million. \u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac715.2 million \u2013 \u20ac895.3 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac635.3 million \u2013 \u20ac997.3 million. \u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac724.9 million \u2013 \u20ac878.9 million. \u2022 If the incremental DLOM fluctuates by 5% (to 10% and 20% instead of 15%) will result in a fair value of the derivative financial asset within the range of \u20ac754.7 million \u2013 \u20ac849.1 million. \u2022 If the incremental DLOC fluctuates by 5% (to 0% and 10% instead of 5%) will result in a fair value of the derivative financial asset within the range of \u20ac759.5 million \u2013 \u20ac844.2 million. Wplay In August 2019, Playtech entered into a structured agreement with Aquila Global Group SAS (\u201cWplay\u201d), which has a licence to operate online gaming products and services in Colombia. Under the agreement, the Group provides Wplay its technology products, where it receives standard operator revenue and additional B2B services fee as per Note 9. The Group has no shareholding in Wplay. Playtech has a call option to acquire a 50% equity holding in the Wplay business. As at 31 December 2024, the option exercise date was in February 2025 or earlier if an M&A event takes place, however management was in active discussions with Wplay to further extend the option exercise date pre-year end. The extension was signed in February 2025, and the option exercise date was deferred to February 2026. For the call option valuation as at 31 December 2024, Playtech assumed that the call option cannot be exercised any date before February 2026. If the call option is exercised by Playtech, the Group would no longer provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20ac10.6 million for the year ended 31 December 2024 (2023: \u20ac1.2 million). Assessment of control and significant influence The Group assessed whether it holds power over the investee (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech does not have the ability to direct Wplay\u2019s activities as it has no voting representation on the executive committee or members of the executive committee. \u2022 Whilst they are not members on the executive committee, Playtech has the ability to appoint and change both the COO and CMO who form part of the management team (albeit this right has never been exercised). The COO and the CMO are part of the wider management team but would not be able to control the relevant activities of Wplay. \u2022 If the option is exercised it would result in Playtech acquiring 50% of the voting rights of the operating entity and therefore would not result in having control. Furthermore, as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment Playtech does not hold power over the investee and as such does not have control. With regard to the assessment of significant influence, the following facts were considered: \u2022 Playtech has the right to appoint and remove the COO and CMO, which is a potential indicator of significant influence given their relative positions and involvement in the day-to-day operations of Wplay. \u2022 The standard operator revenue is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence. \u2022 The Group provides additional services to Wplay which Wplay requires to assist it in successfully running its operations, which could be considered essential technical information. The Group therefore has significant influence under IAS 28, paragraph 6 over Wplay. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. The Group has given two loans to Wplay, with an outstanding balance at 31 December 2023 of \u20ac1.3 million, included in loans receivable from related parties (Note 33). The loans were repaid in 2024. Valuation The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount rate of 22% (2023: 22%), as well as a discount for illiquidity and control until the expected Playtech exit date of February 2026 (used as an accounting assumption solely for the purposes of valuing the Wplay option) (2023: expected exit date of February 2025). The Group used a compound annual growth rate of 7.1% (2023: 8.2%) over the forecasted cash flow period, an average Adjusted EBITDA margin of 23.9% (2023: 28.5%) and an exit multiple of 10.4x (2023: 10.2x). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point, therefore no further discounts were applied post transaction. Furthermore, Playtech\u2019s share in Wplay was adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group. As at 31 December 2024, the fair value of the Wplay derivative financial asset is \u20ac84.7 million. The difference of \u20ac3.3 million between the fair value at 31 December 2023 of \u20ac88.0 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac9.0 million derived from the fair value decrease of the derivative call option calculated using the DCF model in profit or loss for the year ended 31 December 2024. The decrease was due to downgrading of forecasts because of the depreciation of USD against COP by 14% from 31 December 2023 to 31 December 2024 and offset by the increase in the exit multiple. b. \u20ac5.7 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024. In February 2025, the Colombian government implemented a temporary 19% VAT on online gambling deposits starting on 22 February 2025. The temporary tax will be in place for 90 days, with the option of two extensions, each also 90 days long. The tax reform bill, including the 19% VAT, was still under discussion and had not been approved by Congress as at 31 December 2024. Playtech, through advice also concluded that it would be unlikely that the bill around the 19% VAT would be passed, especially since it has been on the agenda for several years. As such it was not considered for purposes of valuing the Wplay option at 31 December 2024, and will be assessed as part of the valuation at 30 June 2025, noting that it could have a material impact on the value disclosed at 31 December 2024. Sensitivity analysis The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value: \u2022 A different discount rate within the range of 17% to 27% will result in a fair value of the derivative financial asset in the range of \u20ac72.6 million \u2013 \u20ac99.8 million. \u2022 If the expected Playtech exit date is extended by one year, the fair value of the derivative financial asset will decrease to \u20ac75.8 million. \u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac80.8 million \u2013 \u20ac88.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac77.0 million \u2013 \u20ac92.4 million. \u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac80.1 million \u2013 \u20ac89.3 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac75.6 million \u2013 \u20ac94.0 million. \u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac78.8 million \u2013 \u20ac90.6 million. Onjoc In June 2020, Playtech entered into a framework agreement with ONJOC CORP. (\u201cOnjoc\u201d), which holds a licence to operate online sports betting, gaming and gambling activities in Panama. The Group has no equity holding in Onjoc but has an option to acquire 50%. Under the agreement the Group provides Onjoc its technology products, where it receives standard operator revenue and additional B2B services fee as per Note 9. If the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 and 2023. The option can be exercised any time subject to Onjoc having $15.0 million of Gross Gaming Revenue (GGR) over a consecutive 12-month period. Assessment of control and significant influence The Group performed an analysis for Onjoc to assess whether it holds power over Onjoc (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech can propose an independent member to the board of directors, who has to be independent to both Playtech and Onjoc, and as such does not have the ability to direct Onjoc\u2019s activities as it has no voting representation on the board; \u2022 Playtech has the right to propose the COO, CTO and CMO, which although would form part of the wider management team, would not be able to control the relevant activities of Onjoc by themselves; and \u2022 if the option is exercised it would result in Playtech acquiring 50% of the voting rights of the operating entity and therefore would not result in having control. Furthermore, as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment Playtech does not hold power over the investee and as such does not have control. Regarding the assessment of significant influence, the following facts were considered: \u2022 Playtech can propose an independent member to the board of directors and has the right to propose the COO, CTO and CMO, which are potential indicators of significant influence given their relative positions and the involvement in day-to-day operations of Onjoc; \u2022 the standard operator revenue is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence; and \u2022 the Group provides additional services to Onjoc which Onjoc requires to assist it in successfully running its operations which could be considered essential technical information. The Group therefore has significant influence under IAS 28, paragraph 6 over Onjoc. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. The Group has given an interest-bearing loan to Onjoc of \u20ac3.3 million (2023: \u20ac2.3 million) which is due for repayment in December 2027 and is included in loans receivable from related parties (refer to Note 33). Valuation The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount rate of 34% (2023: 32%) reflecting the cash flow risk given the high growth rates in place and the early stages of the business, as well as a discount for illiquidity and control until the expected Playtech exit date of December 2028 (2023: expected exit date of December 2027). The Group used a compound annual growth rate of 29.0% (2023: 49.2%) over the forecasted cash flow period and an average Adjusted EBITDA margin of 21.3% (2023: 24.2%). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point, therefore no further discounts applied post transaction. Furthermore, Playtech\u2019s share in Onjoc was adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group. As at 31 December 2024, the fair value of the Onjoc derivative financial asset is \u20ac3.4 million. The difference of \u20ac0.3 million between the fair value at 31 December 2023 of \u20ac3.1 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac0.1 million derived from the fair value increase of the derivative call option calculated using the DCF model in profit or loss in the year ended 31 December 2024. This increase is mostly due to the assumed exercise date getting closer in 31 December 2024 than 31 December 2023 and the further 12 months roll forward of the valuation period. b. \u20ac0.2 million derived from the fair value increase from the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income in the year ended 31 December 2024. Sensitivity analysis The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value: \u2022 A different discount rate within the range of 29% to 39% will result in a fair value of the derivative financial asset in the range of \u20ac2.9 million \u2013 \u20ac4.0 million. \u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac3.2 million \u2013 \u20ac3.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac3.0 million \u2013 \u20ac3.8 million. \u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac2.7 million \u2013 \u20ac4.1 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac2.1 million \u2013 \u20ac4.8 million. \u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac2.8 million \u2013 \u20ac3.9 million. Tenbet Costa Rica In addition to the 6% equity holding in Tentech CR S.A as per section B of this Note, the Group has an option to acquire 81% equity holding in Tenbet. Tenbet, which is another member of the Tenlot Group, operates online bingo games and casino side games. Playtech provides certain services to Tenbet in return for its additional B2B services fee. The Group has no equity holding in Tenbet but has an option to acquire 81% equity. If the option is exercised, the Group would no longer provide certain services to Tenbet and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 and 31 December 2023. In H1 2023, the Group signed an amendment to the Tenbet agreement in which the option can be exercised at any time from July 2024 (previously 35 months of Tenbet going live). In H2 2023, the Group signed an amendment to the Tenbet agreement in which the option can be exercised at any time from 1 January 2025 based on the condition that Tenbet has generated at least once, prior to the exercise, accumulative GGR (as defined in the agreement) of at least $10.0 million, in a consecutive 12-month period. Based on the business plan used for the DCF valuation, the accumulative GGR is not expected to be met before 31 December 2027. The Group has given an interest-bearing loan to Tenbet of \u20ac6.0 million (2023: \u20ac4.2 million) which is due for repayment in December 2029 and is included in loans receivable from related parties (refer to Note 33). Assessment of control and significant influence The Group assessed whether it holds power over Tenbet (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech does not have the ability to direct Tenbet\u2019s activities as it has no voting representation on the board of directors (or equivalent) or people in managerial positions; \u2022 Playtech has neither the ability to appoint, nor change, any members of the board of Tenbet; and \u2022 as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. With regard to the assessment of significant influence, the standard operator revenue alone is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence. Furthermore, the Group provides additional services to Tenbet which Tenbet requires to assist it in successfully running its operations that could be considered essential technical information. Playtech therefore has significant influence under IAS 28, paragraph 6 over Tenbet. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. Valuation The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount rate of 34% (2023: 33%) reflecting the cash flow risk given the high growth rates in place and the early stages of the business, as well as a discount for illiquidity and control until the expected Playtech exit date of December 2028 (2023: expected exit date of December 2028). The Group used a compound annual growth rate of 91.4% (2023: 96.2%) over the forecasted cash flow period and an average Adjusted EBITDA margin of 1.1% (2023: average of 0.9%). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point. Furthermore, Playtech\u2019s share in Tenbet was adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group. As at 31 December 2024, the fair value of the Tenbet derivative financial asset is \u20ac0.4 million, with the \u20ac1.3 million decrease from the fair value of \u20ac1.7 million at 31 December 2023 recognised in profit or loss for the year ended 31 December 2024, primarily due to downgraded cash flow forecasts based on Tenbet\u2019s current performance, calculated using the DCF. Tenlot El Salvador S.A. de C.V During 2024, the Group entered into a new structured agreement with Tenlot El Salvador S.A. de C.V. (Tenlot El Salvador), which has a license to operate online betting and gaming on behalf the national lottery of El Salvador. Under the agreement the Group will provide Tenlot El Salvador its technological platform, as well as operational and other related services, where it will receive in return standard operator revenue and additional B2B services fee as per Note 9. The additional B2B services fee was \u20acNil in the year ended 31 December 2024.The Group has no shareholding in Tenlot El Salvador. Under the structured agreement, Playtech has paid Tenlot El Salvador an amount of $3.3 million with an additional $1.3 million to be paid in instalments upon certain conditions being met, in exchange for an option to acquire 70% of the shares in Tenlot El Salvador. The option can be exercisable at any time after 18 months from February 2024 subject to Tenlot El Salvador generating at least once prior to the exercise, a cumulative gross gaming revenue of at least $10.0 million in any consecutive period of 12 months. Playtech also made available to Tenlot El Salvador a $5.5 million line of credit out. As at 31 December 2024, an amount of $0.5 million was withdrawn. The carrying amount of the loan is \u20ac0.5 million as of 31 December 2024 and is included in loans receivable from related parties (refer to Note 33). Assessment of control and significant influence The Group assessed whether it holds power over Tenlot El Salvador (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech does not have the ability to direct Tenlot El Salvador\u2019s activities as it has no voting representation on the board of directors (or equivalent) or people in managerial positions; \u2022 Playtech has neither the ability to appoint, nor change, any members of the board of Tenlot El Salvador; and \u2022 as at 31 December 2024, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. Regarding the assessment of significant influence, the standard operator revenue alone is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence. Furthermore, the Group will provide additional services to Tenlot El Salvador which Tenlot El Salvador requires to assist it in successfully running its operations that could be considered essential technical information. Playtech therefore has significant influence under IAS 28, paragraph 6 over Tenlot El Salvador. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. Valuation As at 31 December 2024, the fair value of the Tenlot El Salvador derivative financial asset is \u20ac4.6 million. Since the date the derivative was acquired until 31 December 2024, there have been no changes in the operations of Tenlot El Salvador that would indicate that the fair value of the derivative financial asset would be different to the original arm\u2019s length price payable of $4.8 million (\u20ac4.5 million). The difference of \u20ac0.1 million between the fair value at acquisition and the fair value at 31 December 2024 is derived from the fair value increase from the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income in the year ended 31 December 2024. ", "dimensions": { "concept": "playtechplc:DisclosureOfInvestmentsAndDerivativeFinancialAssets", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-635": { "value": "Note 19 \u2013 Investments and derivative financial assets Introduction Below is a breakdown of the relevant assets at 31 December 2024 and 2023 per the consolidated balance sheet:
2024 2023
\u20ac\u2019m \u20ac\u2019m
A. Investments in associates
76.4
51.5
B. Other investments
152.1
92.8
C. Derivative financial assets
895.0
827.8
1,123.5
972.1
The following are the amounts recognised in the statement of comprehensive income:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit or loss
A. Share of loss from associates
(3.8)
(0.9)
B. Unrealised fair value changes of equity investments
51.1
(6.6)
C. Unrealised fair value changes of derivative financial assets
61.5
153.4
Other comprehensive income
Foreign exchange movement from the derivative call options and equity investments held in non-Euro functional currency
subsidiaries
12.4
(5.9)
121.2
140.0
Where the underlying derivative call option and equity investments are held in a non-Euro functional currency entity, the foreign exchange movement is recorded through other comprehensive income. As at 31 December 2024, the foreign exchange movement of the derivative call options held in Caliplay and NorthStar (Note 19C) is recorded in profit or loss as these options are held in Euro functional currency entities. The foreign exchange movement of the derivative call options held in Wplay, Onjoc, Tenbet, Tenlot El Salvador S.A. de C.V (\u201cTenlot El Salvador\u201d) (Note 19C) and the small minority equity investment in Hard Rock Digital (Note 19B) are recorded through other comprehensive income as these are held in USD functional currency entities. The recognition and valuation methodologies for each category are explained in each of the relevant sections below, including key judgements made under each arrangement as described in Note 6.
A. Investments in associates
Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
\u2014
\u2014
ALFEA SPA
1.6
1.7
Galera
\u2014
\u2014
LSports
65.6
35.2
Stats International
\u2014
\u2014
NorthStar
5.4
9.0
Sporting News Holdings Limited
5.4
5.6
Total investment in equity accounted associates
78.0
51.5
Transfer to held for sale
(1.6)
\u2014
Total investment in equity accounted associates (continued operations)
76.4
51.5
Profit and loss impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Share of loss in Galera
\u2014
\u2014
Share of profit in LSports
\u2014
2.1
Share of loss in NorthStar
(3.6)
(2.8)
Share of loss in Sporting News Holdings Limited
(0.2)
(0.2)
Total profit and loss impact
(3.8)
(0.9)
Balance sheet movement
Sporting
News
Holdings
LSports NorthStar Limited Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance as at 31 December 2023/1 January 2024
35.2
9.0
5.6
49.8
Transfer of fair value of the option on exercise
4.8
\u2014
\u2014
4.8
Total consideration to acquire additional 18% shareholding (pre-dilution)
25.8
\u2014
\u2014
25.8
Share of loss
\u2014
(3.6)
(0.2)
(3.8)
Dividend income
(0.2)
\u2014
\u2014
(0.2)
Balance as at 31 December 2024
65.6
5.4
5.4
76.4
Caliplay
Background
During 2014, the Group entered into an agreement with Tur\u00edstica Akalli, S. A. de C.V, which has since changed its name to Corporacion Caliente S.A. de C.V.
(\u201cCaliente\u201d), the majority owner of Tecnologia en Entretenimiento Caliplay, S.A.P.I. de C.V (\u201cCaliplay\u201d), which is a leading online betting and gaming operator in
Mexico which operates the \u201cCaliente\u201d brand in Mexico.
The Group made a \u20ac16.8 million loan to September Holdings B.V. (previously the 49% shareholder of Caliplay), a company which is 100% owned by Caliente, in
return for a call option that would grant the Group the right to acquire 49% of the economic interest of Caliplay for a nominal amount (the \u201cPlaytech Call Option\u201d).
During 2021, Caliplay redeemed its share at par from September Holdings, which resulted in Caliente owning substantially all of the shares in Caliplay. The terms
of the existing structured agreement were varied, with the following key changes:
\u2022 A new additional option (in addition to the Playtech Call Option) was granted to the Group which allowed the Group to take up to a 49% equity interest in
a new acquisition vehicle should Caliplay be subject to a corporate transaction \u2013 this additional option is only exercisable in connection with a corporate
transaction and therefore was not exercisable at 31 December 2024 or 31 December 2023 (the \u201cPlaytech M&A Call Option\u201d).
\u2022 Caliente received a put option which would require Playtech to acquire September Holding Company B.V. for a nominal amount (the \u201cSeptember Put
Option\u201d). This option has been exercised and the parties are in the process of transferring legal ownership of September Holding Company B.V. to
the Group.
The Group has no equity holding in Caliplay and is currently providing services to Caliplay including technical and general strategic support services for which
it receives income (including an additional B2B services fee as described in Note 9). If either the Playtech Call Option or the Playtech M&A Call Option is
exercised, the Group would no longer be entitled to receive the additional B2B services fee (and will cease to provide certain related services) which for the year
ended 31 December 2024 was \u20ac80.6 million (2023: \u20ac111.7 million).
In addition to the above, from 1 January 2025, if there is a change of control of Caliplay or any member of the Caliente group which holds a regulatory permit
under which Caliplay operates, each of the Group and Caliente shall be entitled (but not obligated), within 60 days of the time of such change of control, to
require that the Caliente group redeems the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) acquires
Playtech\u2019s 49% stake in Caliplay (together the \u201cCOC Option\u201d). If such change of control were to take place and the right to redeem/acquire were to occur,
this would extinguish the Playtech Call Option (to the extent not exercised prior thereto) and the Playtech M&A Call Option. The COC option was historically
considered in the valuation of the Playtech M&A Option (refer to Note 19C).
Finally, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay also had an option to redeem the Group\u2019s additional B2B services fee or
(if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire Playtech\u2019s 49% stake in Caliplay (together the \u201cCaliente
Call Option\u201d). As per the public announcement made by the Group on 6 February 2023, the Group was seeking a declaration from the English Courts to obtain
clarification on a point of disagreement between the parties in relation to the Caliente Call Option. The Group believes the Caliente Call Option has expired and
referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. If the
Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option.
As per the public announcement made in September 2024, the Group agreed a revised strategic agreement related to Caliplay. Under these revised terms,
Playtech will hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay, incorporated in the
United States and be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the
Board of Cali Interactive. In the meantime, there is an agreed standstill of all the existing legal proceedings between Caliente, Caliplay and Playtech which were
disclosed in the audited accounts for the year ended 31 December 2023 and in Note 6 of these financial statements (including the point of disagreement on the
Caliente Call Option above), and those proceedings will be dismissed in full once the revised arrangements come into effect.
The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been
received, and completion of the revised arrangements is scheduled to take place on 31 March 2025. On closing of the revised arrangements, the Playtech
Call Option, the Caliente Call Option and the COC Option will cease to exist and the Playtech M&A Call Option will have been exercised. Refer to Note 19C for
further details.
Assessment of control and significant influence
As at 31 December 2024 and 2023 it was assessed that the Group did not have control over Caliplay, because it does not meet the criteria of IFRS 10
Consolidated Financial Statements, paragraph 7 due to the following:
\u2022 Despite the Group previously having a nominated director on the Caliplay board in 2020 and having consent rights on certain decisions (in each case,
removed in 2021), there was no ability to control the relevant activities.
\u2022 The Playtech Call Option or the Playtech M&A Call Option, if exercised, would result in Playtech having up to 49% of the voting rights and would not result in
Playtech having control.
\u2022 Whilst the Group currently does receive variable returns from its strategic agreement, it does not have the power to direct relevant activities so any variation
cannot arise from such a power.
As at 31 December 2024 and 2023, the Group has significant influence over Caliplay because it meets one or more of the criteria under IAS 28, paragraph 6
as follows:
\u2022 The standard operator revenue by itself is not considered to give rise to significant influence; however, when combined with the additional B2B services fee,
this is an indicator of significant influence.
\u2022 The material transaction of the historical loan funding is also an indicator of significant influence.
Accounting for each of the options
The Playtech Call Option was exercisable at 31 December 2024 and 31 December 2023, although it was still unexercised as at 31 December 2024. As the
Group has significant influence and the option is exercisable, the investment is recognised as an investment in associate using the equity accounting method
which includes having current access to profits and losses. The cost of the investment was previously deemed to be the loan given through September
Holdings of \u20ac16.8 million, which at the time was assessed under IAS 28, paragraph 38 as not recoverable for the foreseeable future and part of the overall
investment in the entity.
In 2021, with the introduction of the September Put Option, the investment in associate relating to the original Playtech Call Option was reduced to zero and the
\u20ac16.8 million original loan amount was determined by management to be the cost of the new Playtech M&A Call Option and therefore fully offset the balance of
\u20ac16.8 million against the overall fair value movement of the Playtech M&A Call Option (refer to part C of this Note).
The Playtech M&A Call Option is not currently exercisable (although it will be amended, become exercisable and will be exercised in connection with the closing
of the revised strategic agreement) and therefore in accordance with IAS 28, paragraph 14 has been recognised as derivative financial asset, and disclosed
separately under part C of this Note.
As per the judgement in Note 6, the Group did not consider it appropriate to equity account for the share of profits as the current 100% shareholder is entitled to
any undistributed profits.
Below is the financial information of Caliplay:
31 December 31 December
2024
1
2023
2
\u20ac\u2019m \u20ac\u2019m
Current assets
191.8
215.0
Non-current assets
18.2
23.9
Current liabilities
(204.5)
(123.6)
Non-current liabilities
\u2014
\u2014
Equity
5.5
115.3
Revenue
863.7
759.4
Profit from continuing operations
36.3
58.8
Other comprehensive income/(loss), net of tax
(20.5)
10.4
Total comprehensive income
15.8
69.2
1
The 2024 balances above have been extracted from Caliplay\u2019s draft 2024 financial statements.
2
The 2023 balances have been extracted from Caliplay\u2019s 2023 audited financial statements.
Investment in ALFEA SPA
The Group has held 30.7% equity shares in ALFEA SPA since June 2018. At 31 December 2024, the Group\u2019s value of the investment in ALFEA SPA was
\u20ac1.6 million (31 December 2023: \u20ac1.7 million). A share of loss of \u20ac0.1 million was recognised in profit or loss within discontinued operations for the year ended
31 December 2024 (2023: a share of profit of \u20ac0.1 million was recognised in profit or loss within discontinued operations).The investment was shown as held for
sale as at 31 December 2024.
Investment in Galera
In June 2021, the Group entered into an agreement with Ocean 88 Holdings Ltd (Ocean 88) (shareholder of Galera Gaming Group (together \u201cGalera\u201d), a
company registered in Brazil. Galera offers and operates online and mobile sports betting and gaming (poker, casino, etc.) in Brazil. They will continue to do so
under the local regulatory licence, which was obtained and became effective 1 January 2025, when regulation went live in Brazil.
The Group\u2019s total consideration paid for the investment in Galera was $5.0 million (\u20ac4.2 million) in the year ended 31 December 2021, which was the
consideration for the option to subscribe and purchase from Galera an amount of shares equal to 40% in Galera at nominal price.
In addition to the investment amount paid, Playtech made available to Galera a line of credit up to $20.0 million. In 2022, an amendment was signed to the
original framework agreement to increase the credit line to $45.0 million. As at 31 December 2024, an amount of \u20ac43.0 million, which is included in loans
receivable from related parties (refer to Note 33), has been drawn down (31 December 2023: \u20ac39.2 million). An amount of \u20ac1.4 million has been loaned in the
year ended 31 December 2024. The loan is required to be repaid to Playtech prior to any dividend distribution to the current shareholders of Galera. Galera
repaid Playtech \u20ac1.5 million in the year ended 31 December 2024. The remainder of the year on year movement is additional interest charged, as well as foreign
exchange gain on retranslation of the loan, which is denominated in US Dollars. The Group recognised an allowance for expected credit losses (ECL) for this
loan of \u20ac2.8 million at 31 December 2024 (2023: \u20ac1.6 million).
In respect of the loan receivable from Galera under this credit line, even though the framework agreement does not state a set repayment term, management
has assessed that this should still be recognised as a loan as opposed to part of the overall investment in associate in line with IAS 28. The Directors have made
a judgement that the loan will be settled from operational cash flows as opposed to being settled as part of an overall transaction. The cost of the investment
was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses as
at 31 December 2022. The Galera Group continues to be loss-making as at 31 December 2024 and 31 December 2023.
On 6 November 2023, Ocean 88 acquired 60% of F12.bet. Playtech loaned Galera the amount of $10.1 million (\u20ac9.5 million) for the acquisition of F12.bet. As at
31 December 2024, this amount was \u20ac10.1 million and is included in loans receivable from related parties (31 December 2023: \u20ac9.6 million) (refer to Note 33). The
loan is repayable within five years from the disbursement date, in November 2028. The Group recognised an allowance for ECL for this loan of \u20ac0.7 million as at
31 December 2024 (2023: \u20ac0.4 million).
On 15 May 2024, Playtech loaned an additional $10.0 million (\u20ac9.2 million) to Galera to acquire 60% of Luva.bet. Luva.bet is a recently established operator
targeting the Brazilian market which commenced operations in April 2023. As at 31 December 2024, an amount of \u20ac9.5 million is included in loans receivable
from related parties (Note 33). The loan is repayable within five years from the disbursement date, in May 2029. The Group recognised an allowance for ECL for
this loan of \u20ac0.6 million as at 31 December 2024.
On 6 December 2024, Playtech provided an additional credit facility of 70.0 million BRL (\u20ac11.0 million) to Galera to assist them in acquiring the Brazil licenses.
An amount of \u20ac9.2 million was withdrawn as at 31 December 2024 and is included in loans receivable from related parties (Note 33). The loan is repayable in
November 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024.
An additional ECL percentage of 5% was recorded for all Galera loans at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation
within a country. This includes risks related to system integration, user experience, and compliance monitoring, which could result in the loss of players due
to operational disruptions, penalties and loss of licenses for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023:
\u20ac2.0 million).
The total outstanding loans to Ocean88 as at 31 December 2024 is \u20ac71.8 million (31 December 2023: \u20ac48.8 million), including interest.
Playtech has assessed whether it holds power to control Galera and it was concluded that this is not the case. Even if the option is exercised, it would only result
in a 40% voting right over the operating entity and therefore no control.
Under the agreement in place:
\u2022 the standard operator income to be generated from services provided to Galera when combined with the additional B2B services fee, the loan and certain
other contractual rights, are all indicators of significant influence; and
\u2022 the Group provides standard B2B services (similar to services provided to other B2B customers) as well as additional services to Galera that Galera
requires to assist it in successfully running its operations, which could be considered essential technical information.
Considering the above factors, the Group has significant influence under IAS 28, paragraph 6 over Galera.
As the option is currently exercisable and gives Playtech access to the returns associated with the ownership interest, the investment is treated as an
investment in associate. Playtech\u2019s interest in Galera is accounted for using the equity method in the consolidated financial statements. Galera is currently loss-
making. If the call option is exercised by Playtech, the Group will no longer provide certain services and as such will no longer be entitled to the additional B2B
services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 (2023: \u20acNil).
The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the
Group\u2019s share of losses.
Investment in LSports
Background
In November 2022, the Group acquired 15% of Statscore for \u20ac1.8 million, making it a 100% subsidiary. Subsequently, the Group disposed of 100% of Statscore
to LSports Data Ltd (\u2018\u2019LSports\u2019\u2019) for \u20ac7.5 million, less a novated inter-company loan of \u20ac1.6 million, resulting in a non-cash net consideration of \u20ac5.9 million.
Additionally, the Group acquired 31% of LSports for \u20ac36.7 million, which included an option to acquire up to 18% more shares. Of the total consideration,
\u20ac29.2 million was paid in cash.
The Group exercised its option to acquire up to 49% (an additional 18%) of the equity of LSports in September 2024, increasing their shareholding to 49%. The
Group paid LSports \u20ac18.9 million, calculated based on a valuation of LSports at \u20ac115.0 million. Upon finalisation of LSports\u2019 annual audited financial statements
for the year ended 31 December 2024, an additional consideration of \u20ac6.9 million, based on EBITDA multiplied by a factor of seven, was recorded as deferred
consideration and was paid in March 2025 (Note 38). Under IFRS 10, paragraph 7, the Company does not have control over the investee despite being the
largest shareholder in LSports by holding 49% because the rest of the 51% shareholders form a consortium by virtue of being related (Note 6).
LSports is a company whose principal activity is to empower sportsbooks and media companies with the highest quality sports data on a wide range of events,
so they can build the best product possible for their business. The company is based in Israel. The principal reason of the acquisition is the attractive opportunity
considered by Playtech to increase its footprint in the growing sports data market segment.
Assessment of control and significant influence
As at the date of acquisition, 31 December 2024 and 2023, it was assessed that the Group did not have control over LSports, because it does not meet the
criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following:
\u2022 despite the appointment and representation on the board of directors by a Playtech employee as at 31 December 2024, there is still no ability to control the
relevant activities, as the total number of directors including the Playtech appointed director is five;
\u2022 Playtech has neither the ability to change any members of the board nor of the management of LSports; and
\u2022 as of 31 December 2024, despite Playtech\u2019s shareholding being 49%, under IFRS 10, paragraph 7, the Group does not have control over LSports because
the other combined shareholding/voting power exceeds 50% and is collectively held by family members.
Per the above assessment, Playtech does not hold power over the investee and as such does not have control.
As at 31 December 2024 and 2023, the Group has significant influence over LSports because it meets one or more of the criteria under IAS 28, paragraph 6, the
main one being the Playtech employee appointed on the board of LSports, enabling it to therefore participate in policy-making processes, including decisions
about dividends and/or other distributions. As a result of this assessment, LSports has been recognised as an investment in associate.
Purchase Price Allocation (PPA)
The Group prepared an initial PPA following the acquisition of the investment in 2022, where any difference between the cost of the investment and Playtech\u2019s
share of the net fair value of the LSports identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the
carrying amount of the investment in associate.
The Group prepared an updated PPA in September 2024 upon acquiring the additional 18% stake in LSports. The difference again resulted in goodwill,
included in the investment\u2019s carrying amount.
Details of Playtech\u2019s share of net fair value of the identifiable assets and liabilities acquired are as follows:
Playtech\u2019s share of net fair
value of the identifiable assets
and liabilities acquired
2024
\u20ac\u2019m
Net book value of assets acquired
3.7
Fair value of customer contracts and relationships
28.4
Fair value of technology \u2013 internally developed
23.4
Fair value of brand
4.8
Deferred tax arising on acquisition
(4.3)
Total net assets
56.0
Resulting goodwill 14.0
The total share of profit recognised in profit or loss in the year ended 31 December 2024 from the investment is LSports was \u20acNil million (2023: \u20ac2.1 million). This includes the amortisation of intangibles and the release of the deferred tax liability, arising from the original acquisition of the investment and subsequent exercise of the option (2024: \u20ac2.9 million, 2023: \u20ac2.1 million) and the share of the LSports profits (2024: \u20ac2.9 million, 2023: \u20ac4.2 million), with a corresponding entry against the investment in associate on the consolidated balance sheet. During 2024, the Group received a dividend of \u20ac0.2 million from LSports (2023: \u20ac1.8 million), which reduced the investment in associate value in the consolidated balance sheet. Below is certain financial information of LSports:
31 December 31 December
2024
1
2023
1
\u20ac\u2019m \u20ac\u2019m
Current assets
9.5
10.9
Non-current assets
43.0
26.8
Current liabilities
(8.7)
(6.6)
Non-current liabilities
(8.3)
(2.3)
Equity
35.5
28.8
1 The 2024 and 2023 balances above have been extracted from LSport\u2019s audited consolidated financial statements. Investment in Stats International Background In January 2022, the Group provided a $2.3 million loan to Stats International Limited (\u201cStats\u201d), at an interest rate of 3.5% and a repayment date of 30 June 2024. As at 31 December 2024, the carrying value of the loan was \u20ac2.4 million and is included in loans receivable from related parties (Note 33) (2023: \u20ac2.2 million). The Stats group\u2019s business activities are focused on securing rights in connection with sporting competitions and the exploitation of the same, typically in exchange for the payment of certain fees and provision of analytical and statistical services by the Stats group to the relevant rightsholder. The initial focus of the Stats group is on Brazilian sports competitions. In May 2023, the Group and Stats signed an amended loan agreement which, amongst other things, changed the repayment obligations such that the final repayment date will be 31 December 2026 and the loan agreement will be novated from Stats to Jewelrock (Stats\u2019 sole shareholder) in consideration of $1. Moreover, a framework agreement was signed between Stats and Playtech whereby Playtech, for a \u20ac1 consideration, has been granted the option to acquire from Jewelrock 36% of the issued share capital of Stats. Finally, Playtech entered into a service agreement whereby Playtech provides Stats its business development and knowledge-sharing services in connection with the operational and industry standard procedures of Stats in exchange for additional B2B services fee as per Note 9. As the business is still a start-up, the additional B2B services fee as at 31 December 2024 was \u20acNil (2023: \u20acNil). Once the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The option may be exercised at any time but prior to the termination of all sporting rights agreements. It shall also lapse on the expiry or termination of the Playtech service agreement in accordance with its terms or at the written election of Playtech. Playtech has assessed whether it holds power to control the investee and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 36% voting right over the operating entity and therefore no control. However, Playtech has assessed whether the Group has significant influence over Stats and due to the existence of the service agreement whereby Playtech would be assisting a start-up business by providing knowledge-sharing services, these could be considered essential technical information. Considering this, it was concluded that the Group has significant influence under IAS 28, paragraph 6, over Stats. The cost of the option, which was considered to be the inherent value of Playtech allowing the loan repayment date to be extended, is considered negligible. No share of profits/losses have been recognised as at 31 December 2024 in profit or loss as these were immaterial.
Investment in NorthStar
Background
NorthStar Gaming Inc. is a Canadian gaming brand incorporated in Ontario in Q4 2021. In Q2 2022, NorthStar received its license from the Alcohol and Gaming
Commission of Ontario (AGCO) and launched its online gaming site, www.northstarbets.ca, offering regulated sports betting markets and a curated casino
experience. Playtech saw this as an opportunity to expand its presence in the growing Canadian betting market.
In December 2022, the Group issued NorthStar a convertible loan of CAD 12.25 million, which could be converted into common shares, A warrants, and B
warrants upon the completion of a reverse takeover (RTO) transaction. Baden Resources, listed on the TSX, agreed to acquire NorthStar through an RTO. The
loan\u2019s fair value as of 31 December 2022 was \u20ac8.4 million.
In March 2023, the RTO was completed, and Baden Resources was renamed NorthStar Gaming Holdings (\u201cNorthStar\u201d). This triggered the automatic
conversion of the Group\u2019s loan into NorthStar common shares, which were then exchanged for NorthStar common shares. The Group also received NorthStar
Warrants, exercisable at CAD 0.85 and CAD 0.90 per share, expiring on the fifth anniversary of their issue.
In September 2023, the Group entered into a subscription agreement with NorthStar, acquiring additional shares and warrants (exercisable at CAD 0.36 and
CAD 0.40 per share) for CAD 5.0 million. This investment closed in October 2023, and Playtech also loaned NorthStar an 8% senior convertible debenture for
CAD 5.0 million.
As of 31 December 2024, Playtech owns approximately 25.8% of NorthStar\u2019s issued and outstanding common shares (down from 27.5% as of
31 December 2023 following NorthStar\u2019s issue of new shares in June 2024). If the convertible debenture is converted and all warrants are exercised, Playtech
could potentially increase its stake to over 40%.
The Group\u2019s convertible debenture has been classified at fair value through profit or loss based on IFRS 9 criteria. As at 31 December 2024, an amount of CAD
5.5 million (\u20ac3.6 million) is included in loans receivable from related parties (31 December 2023: \u20ac3.4 million) (Note 33). The loan is required to be repaid to
Playtech by October 2026 or upon conversion (to the extent not fully converted) once conversion criteria are met.
In April 2024, the Group signed a promissory note with NorthStar for the amount of CAD 3.0 million (\u20ac2.1 million), which is included in current assets as loans
receivable from related parties (Note 33). The principal and the outstanding interest under the promissory note are required to be paid the earliest of:
i. 12 months from April 2024;
ii. the date on which Playtech declares the Indebtedness to be immediately due and payable following the occurrence of an event of default (as defined in
agreement between Playtech and NorthStar);
iii. the date on which NorthStar or any of its subsidiaries complete an offering of debt or equity securities to one or more third parties that, when aggregated
with any other financing completed, results in gross proceeds to NorthStar and its subsidiaries of at least CAD 10 million.
In September 2024 and December 2024 further promissory notes to the value of CAD 3.0 million (\u20ac2.1 million) and CAD 3.5 million (\u20ac2.3 million) respectively
were issued to NorthStar to assist with its growth plans while establishing more medium to long-term financing, which are included in current assets as loans
receivable from related parties (Note 33). All three of these promissory notes were repaid by NorthStar in January 2025 (Note 38).
The fair value of all of Playtech\u2019s warrants is \u20acNil as at 31 December 2024 (2023: \u20acNil) (refer to Note 19C).
Assessment of control and significant influence
As at 31 December 2024 and 2023, it was assessed that the Group did not have control over NorthStar, because it does not meet the criteria of IFRS 10
Consolidated Financial Statements, paragraph 7 due to the following:
\u2022 despite representation on the NorthStar board of directors by Playtech\u2019s CFO and one more Playtech employee at 31 December 2023 and
31 December 2024, there is still no ability to control the relevant activities, as the total number of appointed directors is eight; and
\u2022 Playtech has neither the ability to change any other members of the NorthStar board nor the management of NorthStar.
Per the above assessment, Playtech does not hold power over the investee and as such does not have control.
As at 31 December 2024 and 2023, the Group has significant influence over NorthStar because it meets one or more of the criteria under IAS 28, paragraph
6, the main one being that it has two appointed members sitting on the board of NorthStar, enabling it to therefore participate in policy-making processes,
including decisions about dividends and/or other distributions. As a result of this assessment NorthStar has been recognised as an investment in associate.
The NorthStar warrants are fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9 (refer to Note 19C).
Purchase Price Allocation (PPA)
The Group prepared a PPA following the acquisition of the investment, where any difference between the cost of the investment and Playtech\u2019s share of the net
fair value of NorthStar\u2019s identifiable assets and liabilities results in goodwill.
Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. Up until October 2023, Playtech\u2019s
shareholding was diluted to 15% due to NorthStar issuing more shares as part of an acquisition they completed in May 2023. Playtech\u2019s shareholding at
31 December 2024 was 25.8% (31 December 2023: 27.5%). Playtech\u2019s shareholding decrease from 2023 to 2024 is due to NorthStar issuing more shares to
new and existing shareholders.
The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in NorthStar was \u20ac3.6 million (2023: \u20ac2.8 million).
This includes the amortisation of intangibles, arising on acquisition, and the share of NorthStar\u2019s losses, with a corresponding entry against the investment in
associate on the consolidated balance sheet.
Investment in Sporting News Holdings Limited
Background
In August 2023, the Group acquired 12.6% of Sporting News Holdings Limited (\u201cTSN\u201d), for a total consideration of $6.3 million (\u20ac5.8 million).
TSN\u2019s principal activities are the sale of digital advertising and the offering of media services, the provision of multimedia sports content across internet-enabled
digital platforms and the distribution directly to customers and business clients around the world. The company is incorporated in the Isle of Man. The principal
reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports and media market segment.
Assessment of control and significant influence
As at the date of acquisition and at 31 December 2024 it was assessed that the Group did not have control over TSN, because it does not meet the criteria of
IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following:
\u2022 despite Playtech having the right to appoint a director on the TSN board, as at 31 December 2024 and 31 December 2023, one had not yet been appointed.
Playtech has preferred to only appoint an observer to the board. Moreover, once Playtech appoints a director, there is still no ability to control the relevant
activities, as the total number of directors including potentially one Playtech appointed director will be five; and
\u2022 Playtech has neither the ability to change any members of the board nor of the management of TSN.
Per the above assessment, Playtech does not hold power over the investee and as such does not have control.
As at 31 December 2024, the Group has significant influence over TSN because it meets one or more of the criteria under IAS 28, paragraph 6, the main one
being Playtech having the ability to appoint a member on the board of TSN, enabling it to therefore participate in policy-making processes, including decisions
about dividends and/or other distributions. As a result of this assessment TSN has been recognised as an investment in associate.
The cost of the investment was deemed to be the consideration paid for the shares of $6.3 million (\u20ac5.8 million) in August 2023. The total share of loss
recognised in profit or loss in the year ended 31 December 2024 from the investment in TSN was \u20ac0.2 million (2023: \u20ac0.2 million).
Other investments in associates that are fair valued under IFRS9 per IAS 28, paragraph 14
The following are also investments in associates where the Group has significant influence but where the option is not currently exercisable. As there is no
current access to profits, the relevant option is fair valued under IFRS 9, and disclosed as derivative financial assets under part C of this Note:
\u2022 Wplay;
\u2022 Tenbet (Costa Rica);
\u2022 Onjoc (Panama); and
\u2022 Tenlot El Salvador S.A. de C.V
The financial information required for investments in associates, other than Caliplay and LSports, has not been included here as from a Group perspective the
Directors do not consider them to have a material impact jointly or separately.
B. Other investments
Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Listed investments
11.1
15.8
Investment in Tenlot Guatemala
\u2014
\u2014
Investment in Tentech Costa Rica
\u2014
\u2014
Investment in Gameco
\u2014
\u2014
Investment in Hard Rock Digital
141.0
77.0
Total other investments
152.1
92.8
Statement of comprehensive income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit and loss
Change in fair value of equity investments
51.1
(6.6)
Impairment of investment in Gameco (included in the impairment of financial assets)
\u2014
(1.3)
51 .1
(7.9)
Other comprehensive income
Foreign exchange movement from equity investments held in a non-Euro functional subsidiary
6.4
(2.6)
Listed investments
The Group has shares in listed securities, which includes new shares purchased during the year for \u20ac1.8 million (2023: \u20ac14.3 million). The fair values of these
equity shares are determined by reference to published price quotations in an active market. For the year ended 31 December 2024, the fair values of these
listed securities have decreased by \u20ac6.5 million (2023: increased by \u20ac0.1 million).
Investment in Tenlot Guatemala
In 2020, the Group entered into an agreement with Tenlot Guatemala, a member of the Tenlot Group. Tenlot Guatemala, which is in the lottery business in
Guatemala, commenced its activity in 2018.
The Group acquired a 10% equity holding in Tenlot Guatemala for a total consideration of $5.0 million (\u20ac4.4 million) in 2020, which has been accounted at fair
value through profit or loss under IFRS 9.
The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNil because of changes to market conditions which led to changes in
its original business plans. The fair value of the equity holding has decreased by \u20ac4.4 million to \u20acNil in the year ended 31 December 2023.
In addition, the Group was granted a 10% equity holding in Super Sports S.A. at no additional cost. The Group also has an option to acquire an additional 80%
equity holding in Super Sports S.A. If the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the
additional B2B services fee. The additional B2B services fee was \u20acNil for the year ended 31 December 2024 (2023: \u20acNil). There are no conditions attached to
the exercise of the option.
The right of exercising the call option at any time and the acquisition of the additional 80% in Super Sports S.A. give Playtech:
\u2022 power over the investee;
\u2022 exposure, or rights, to variable returns from its involvement with the investee; and
\u2022 the ability to use its power over the investee to affect the amount of the investor\u2019s returns.
It therefore satisfies all the criteria of control under IFRS 10, paragraph 7 and, as such, at 31 December 2024 Super Sports S.A. has been consolidated in the
consolidated financial statements of the Group, noting that this is not material from a Group perspective.
Investment in Tentech Costa Rica
In 2020, the Group entered into an agreement in Costa Rica with the Tenlot Group. The Group acquired a 6% equity holding in Tentech CR S.A., a member of the
Tenlot Group, for a total consideration of $2.5 million (\u20ac2.1 million). Tentech CR S.A. sells printed bingo cards in accordance with article 29 of the Law of Raffles
and Lotteries of Costa Rica (CRC \u2013 Costa Rican Red Cross Association).
The 6% equity holding in Tentech CR S.A. is accounted at fair value through profit or loss under IFRS 9.
The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNi because of changes to market conditions which led to changes in
its original business plans. The fair value of the equity holding has decreased by \u20ac2.3 million to \u20acNil in the year ended 31 December 2023.
Investment in Gameco
In 2021, the Group entered into a convertible loan agreement with GameCo LLC (\u201cGameco\u201d), where it provided $4.0 million (\u20ac3.8 million) in the form of a debt
security with 8% interest. In December 2022, Gameco acquired Green Jade Games and, subsequently, the Playtech debt was converted into equity shares,
representing a 7.1% interest in the newly formed group. Immediately prior to the conversion, the loan was impaired by \u20ac3.0 million, and this has been recognised
in profit or loss in the prior year.
The 7.1% equity holding in the newly formed group was accounted at fair value through profit or loss under IFRS 9 at 31 December 2022. As at 31 December 2024
and 2023, the fair value of the equity holding has been \u20acNil.
Investment in Hard Rock Digital
In March 2023, the Group invested $85.0 million (\u20ac79.8 million in March 2023, \u20ac77.0 million at 31 December 2023) in Hard Rock Digital (HRD) in exchange for
a small minority interest in a combination of equity shares and warrants. HRD is the exclusive Hard Rock International vehicle for interactive gaming and sports
betting on a global basis and the primary vendor to the Seminole Tribe of Florida (the \u201cSeminole Tribe\u201d) for sports betting in the State of Florida. During late 2023
and 2024 positive outcomes were received in respect of claims made in both the Federal and Supreme Courts. Following this, sports betting was re-launched in
Florida by the Seminole Tribe.
The Group assessed whether the warrants met the definition of a separate derivative as per IFRS 9. A financial instrument or other contract should have all
three of the following characteristics:
\u2022 its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or
rates, credit rating or credit index, or other variable, provided, in the case of a non-financial variable, that the variable is not specific to a party to the contract
(sometimes called the \u201cunderlying\u201d);
\u2022 it requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to
have a similar response to changes in market factors; and
\u2022 it is settled at a future date.
Management made a judgement that the warrants did not meet the definition of a separate derivative asset as: (i) the value of the warrants is part of the total
investment and cannot be distinguished between the two and therefore the value of the warrants was deemed to be equal to the equity shares value; and (ii) the
consideration was paid at the time of the transaction.
Furthermore, the equity investment did not meet the definition of held for trading, as the investment was acquired for long-term investment purposes and
with no current intention for sale. The investment was therefore classified as an investment held at fair value through profit or loss with initial and subsequent
recognition at fair value, with any subsequent gain/loss recognised in profit or loss.
In the year ended 31 December 2024, the Group received a dividend of \u20ac3.1 million (2023: \u20acNil) from HRD, recognised in finance income.
Valuation
The Group has assessed the fair value of the investment at 31 December 2024 by applying a DCF approach with a market exit multiple assumption to the two
CGUs within the investment. The discount rate and exit multiples used were within the range of 19%-29% and 8.5x-10.0x respectively. Due to the small minority
interest and the limited influence Playtech has over HRD, the Group included a discount for lack of control of 10%, as well as a 15%-20% discount for lack of
marketability due to the shares not being publicly traded.
As at 31 December 2024, the fair value of the equity investment in HRD increased to \u20ac141.0 million ($146.5 million). The difference of \u20ac64.0 million between the
fair value at 31 December 2023 of \u20ac77.0 million and the fair value at 31 December 2024 has been recognised as follows:
a. \u20ac57.6 million derived from the fair value increase of the equity investment calculated using the DCF model in profit or loss for the period ended
31 December 2024. The increase was mainly driven by the performance of the business, positive developments in the regulatory environment which
primarily aided the relaunch of the Florida sports operations by the Seminole Tribe in late 2023.
b. \u20ac6.4 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the equity investment is under a foreign subsidiary of
the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024.
The Group will continue to monitor the development of the HRD business including the wider regulatory landscape internationally, as well as in the key
operational states in the US which can impact the value of the equity investment.
Sensitivity analysis
The assumptions and judgements made in the valuation of the equity investment as at 31 December 2024 include the following sensitivities, noting that factors
and circumstances, for example regulatory changes, that may arise that are outside the Group and HRD\u2019s control which could impact the option value positively
or negatively:
\u2022 A plus or minus shift of 5% to the discount rates used will result in a fair value of the equity investment within the range of \u20ac127.1 million \u2013 \u20ac159.8 million.
\u2022 An increase or decrease of 2.0x on the 2029 exit multiple will result in a fair value change of the equity investment within the range of \u20ac124.7 million to
\u20ac157.9 million.
\u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the equity investment within the range of \u20ac105.9 million \u2013 \u20ac190.6 million.
\u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the equity investment within the range of \u20ac130.0 million \u2013 \u20ac152.6 million.
C. Derivative financial assets Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Playtech M&A Call Option (Caliplay)
801.9
730.2
Wplay
84.7
88.0
Onjoc
3.4
3.1
Tenbet
0.4
1.7
Tenlot El Salvador S.A. de C.V
4.6
\u2014
NorthStar warrants (Note 19A)
\u2014
\u2014
LSports (Note19A)
\u2014
4.8
Total derivative financial assets
895.0
827.8
Statement of comprehensive income impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
Fair value change of Playtech M&A Call Option
26.1
180.9
Foreign exchange movement to profit or loss
45.6
(16.0)
Wplay
Fair value change in Wplay
(9.0)
(2.7)
Foreign exchange movement recognised in other comprehensive income
5.7
(2.8)
Onjoc
Fair value change in Onjoc
0.1
(5.3)
Foreign exchange movement recognised in other comprehensive income
0.2
(0.2)
Tenbet
Fair value change in Tenbet
(1.3)
(6.9)
Foreign exchange movement recognised in other comprehensive income
\u2014
(0.3)
Tenlot El Salvador S.A. de C.V
Fair value change in Tenlot El Salvador S.A. de C.V
\u2014
\u2014
Foreign exchange movement recognised in other comprehensive income
0.1
\u2014
LSports
Fair value change of call option (Note 19A)
\u2014
3.4
Total comprehensive income impact
67.5
150.1
Caliplay The Playtech M&A Call Option is not currently exercisable and therefore in accordance with IAS 28, paragraph 14 has been recognised as a derivative financial asset and fair valued under IFRS 9. As further disclosed in Note 19A, in September 2024 Playtech has signed a revised strategic agreement in relation to Caliplay in which the Playtech M&A Call Option currently held by Playtech would be amended so that on exercise Playtech will receive a 30.8% equity interest in Caliente Interactive Inc, Caliplay\u2019s newly incorporated US holding company. Exercise of the amended Playtech M&A Call Option will occur in connection with closing of the revised arrangements, with the 30.8% shareholding (the \u201cEquity Right\u201d), being achieved after taking account of the rights of its service providers. The completion of these revised arrangements, which were announced in September 2024, was conditional upon Mexican antitrust approval, which was received in March 2025, with closing now scheduled for 31 March 2025. Furthermore, there is currently an agreed standstill of all current legal proceedings between Caliente, Caliplay and Playtech, and those proceedings will be dismissed in full once the revised arrangements come into effect. Under the Equity Right scenario, Playtech will: \u2022 no longer be entitled to the additional B2B services fee; \u2022 have certain customary shareholder rights, including the right to appoint a Director to the Board of Cali Interactive for so long as Playtech\u2019s equity interest is at least 15% of Cali Interactive; and \u2022 subject to available cash and applicable law, Playtech and all other Cali Interactive stockholders will receive dividends, at least quarterly, pursuant to an agreed dividend policy.
Whilst the resultant 30.8% shareholding on closing of the revised arrangements is less than the 49% interest (before taking account of the rights of the
Playtech Group\u2019s service providers) which the Playtech Group would have held in Caliplay were it to have exercised the existing Playtech M&A Call Option, the
Playtech Group was willing to accept this reduced interest in the context of the terms of these revised arrangements taken as a whole which include:
(i) the resultant settlement and dismissal of all legal proceedings between Caliente, Caliplay and Playtech;
(ii) the receipt (and/or payment into escrow) of the entirety of the outstanding fees owing to the Playtech Group;
(iii) Playtech holding shares in a newly incorporated US holding company of Caliplay; and
(iv) the Caliente Call Option and the COC Option (and the Playtech Call Option) ceasing to exist with the Playtech M&A Call Option having been exercised.
At 31 December 2024, a key judgement was made that the Group is certain that the revised arrangements with Caliplay would complete in H1 2025, and as
such only valued Playtech\u2019s 30.8% Equity Right.
As at 31 December 2023, the Group valued the existing Playtech M&A Option using a DCF approach with a market exit multiple assumption. The Group
also made assumptions on the probability of a possible transaction that may be completed on a number of exit date scenarios over a five-year period, until
December 2028. Management did not model a scenario of no exit as this was considered highly remote. Finally, taking account of matters arising in the
period, Playtech included some probability weighted scenarios to consider the impact of the COC Option as explained in part A of this Note, noting that the
probabilities assigned to this scenario were above zero but low.
Valuation
The Group has assessed the fair value of the Equity Right as at 31 December 2024 using the income approach, which estimates the value of the Equity Right
based on the value of the expected future cash flows generated by Caliplay.
The Group\u2019s view of a reasonable market participant base discount rate for the 31 December 2024 valuation is 1% higher than last year. However, as Playtech
was certain at 31 December 2024 that the revised arrangements will complete in 2025 and that therefore the legal proceedings will subsequently be dismissed,
the Group removed the additional company-specific premium (of 5%) from the discount rate used in the valuation as at 31 December 2023. The discount rate
used for the valuation of the Equity Right was 16% as at 31 December 2024 (2023: 20%).
The Group used a compound annual growth rate of 23.7% (2023: 17.0%) on revenue over the forecasted cash flow period, an average Adjusted EBITDA
margin of 23.5% (2023: 31.3%) and an exit multiple of 8.75x (2023: 7.7x). The change in Adjusted EBITDA margin is due to changes in marketing strategies that
impacted 2024 actuals and going forward into 2025 and beyond. The increase in the exit EBITDA multiple is supported by the observed median EV/EBITDA
multiple of the publicly listed peers as at 31 December 2024 and share price increases.
Given the fact that under the revised arrangements related to Caliplay, the Equity right will be 30.8%, the Group applied a 5% discount for lack of control (DLOC)
on the value of Playtech\u2019s indirect stake in Caliplay, reflecting the fact that Playtech will not have control of Caliplay but it will continue to have significant influence
(Note 19A) with the ability to appoint a director on the board and voting rights in proportion to its shareholding. The Group also included an additional discount
for lack of marketability (DLOM) of 15% for the non-marketable equity right (2023: 10.0%). Furthermore, as part of the restructured arrangements, Playtech\u2019s
stake in Caliplay was adjusted to reflect the rights to Caliplay shares that a service provider is entitled (currently also entitled to part of the value of the Playtech
M&A Call Option).
As at 31 December 2024, the fair value of the Playtech M&A Call Option was $833.0 million (2023: $805.8 million) which converted to \u20ac801.9 million
(2023: \u20ac730.2 million). The year-on-year change in the fair value of the Playtech M&A call option is a combination of an uplift from:
\u2022 the decrease in the discount rate to remove the 5% litigation risk included in the discount rate as at 31 December 2023;
\u2022 the increase in the exit multiple as explained above;
\u2022 favourable movement in the USD to EUR foreign exchange rate;
\u2022 the roll forward of the valuation due to passage of time.
These were partially offset by:
\u2022 the change in methodology. In December 2023, the valuation was based on an entitlement to 49% (pre share of service provider) of the equity value on
exercise of a call option (considering the impact of both the Playtech M&A Call Option and the COC Option). Based on the revised arrangements signed in
September 2024, the equity stake to be held in Caliente Interactive Inc. (Caliplay\u2019s newly incorporated US holding company) has decreased to 30.8% (post
share of service provider).
Sensitivity analysis
The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that
factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value:
\u2022 A different discount rate within the range of 11% to 21% will result in a fair value of the derivative financial asset in the range of \u20ac725.8 million \u2013 \u20ac889.5 million.
\u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac763.4 million \u2013 \u20ac840.4 million.
\u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac724.9 million \u2013 \u20ac878.9 million.
\u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac715.2 million \u2013 \u20ac895.3 million.
\u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac635.3 million \u2013 \u20ac997.3 million.
\u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac724.9 million \u2013 \u20ac878.9 million.
\u2022 If the incremental DLOM fluctuates by 5% (to 10% and 20% instead of 15%) will result in a fair value of the derivative financial asset within the range of
\u20ac754.7 million \u2013 \u20ac849.1 million.
\u2022 If the incremental DLOC fluctuates by 5% (to 0% and 10% instead of 5%) will result in a fair value of the derivative financial asset within the range of
\u20ac759.5 million \u2013 \u20ac844.2 million.
Wplay
In August 2019, Playtech entered into a structured agreement with Aquila Global Group SAS (\u201cWplay\u201d), which has a licence to operate online gaming products
and services in Colombia. Under the agreement, the Group provides Wplay its technology products, where it receives standard operator revenue and additional
B2B services fee as per Note 9. The Group has no shareholding in Wplay.
Playtech has a call option to acquire a 50% equity holding in the Wplay business. As at 31 December 2024, the option exercise date was in February 2025 or
earlier if an M&A event takes place, however management was in active discussions with Wplay to further extend the option exercise date pre-year end. The
extension was signed in February 2025, and the option exercise date was deferred to February 2026. For the call option valuation as at 31 December 2024,
Playtech assumed that the call option cannot be exercised any date before February 2026. If the call option is exercised by Playtech, the Group would no longer
provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20ac10.6 million for the year
ended 31 December 2024 (2023: \u20ac1.2 million).
Assessment of control and significant influence
The Group assessed whether it holds power over the investee (in accordance with IFRS 10, paragraph 7) with the following considerations:
\u2022 Playtech does not have the ability to direct Wplay\u2019s activities as it has no voting representation on the executive committee or members of the executive
committee.
\u2022 Whilst they are not members on the executive committee, Playtech has the ability to appoint and change both the COO and CMO who form part of the
management team (albeit this right has never been exercised). The COO and the CMO are part of the wider management team but would not be able to
control the relevant activities of Wplay.
\u2022 If the option is exercised it would result in Playtech acquiring 50% of the voting rights of the operating entity and therefore would not result in having control.
Furthermore, as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power.
Per the above assessment Playtech does not hold power over the investee and as such does not have control.
With regard to the assessment of significant influence, the following facts were considered:
\u2022 Playtech has the right to appoint and remove the COO and CMO, which is a potential indicator of significant influence given their relative positions and
involvement in the day-to-day operations of Wplay.
\u2022 The standard operator revenue is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is
an indicator of significant influence.
\u2022 The Group provides additional services to Wplay which Wplay requires to assist it in successfully running its operations, which could be considered
essential technical information.
The Group therefore has significant influence under IAS 28, paragraph 6 over Wplay. However, as the option is not currently exercisable, the Group has an
investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in
accordance with IFRS 9.
The Group has given two loans to Wplay, with an outstanding balance at 31 December 2023 of \u20ac1.3 million, included in loans receivable from related parties
(Note 33). The loans were repaid in 2024.
Valuation
The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a
discount rate of 22% (2023: 22%), as well as a discount for illiquidity and control until the expected Playtech exit date of February 2026 (used as an accounting
assumption solely for the purposes of valuing the Wplay option) (2023: expected exit date of February 2025). The Group used a compound annual growth
rate of 7.1% (2023: 8.2%) over the forecasted cash flow period, an average Adjusted EBITDA margin of 23.9% (2023: 28.5%) and an exit multiple of 10.4x
(2023: 10.2x). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an
assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point, therefore no further
discounts were applied post transaction. Furthermore, Playtech\u2019s share in Wplay was adjusted to reflect the rights to shares that a service provider has under its
services agreement with the Group.
As at 31 December 2024, the fair value of the Wplay derivative financial asset is \u20ac84.7 million. The difference of \u20ac3.3 million between the fair value at
31 December 2023 of \u20ac88.0 million and the fair value at 31 December 2024 has been recognised as follows:
a. \u20ac9.0 million derived from the fair value decrease of the derivative call option calculated using the DCF model in profit or loss for the year ended
31 December 2024. The decrease was due to downgrading of forecasts because of the depreciation of USD against COP by 14% from 31 December 2023
to 31 December 2024 and offset by the increase in the exit multiple.
b. \u20ac5.7 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary
of the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024.
In February 2025, the Colombian government implemented a temporary 19% VAT on online gambling deposits starting on 22 February 2025. The temporary
tax will be in place for 90 days, with the option of two extensions, each also 90 days long. The tax reform bill, including the 19% VAT, was still under discussion
and had not been approved by Congress as at 31 December 2024. Playtech, through advice also concluded that it would be unlikely that the bill around the
19% VAT would be passed, especially since it has been on the agenda for several years. As such it was not considered for purposes of valuing the Wplay
option at 31 December 2024, and will be assessed as part of the valuation at 30 June 2025, noting that it could have a material impact on the value disclosed at
31 December 2024.
Sensitivity analysis
The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that
factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value:
\u2022 A different discount rate within the range of 17% to 27% will result in a fair value of the derivative financial asset in the range of \u20ac72.6 million \u2013 \u20ac99.8 million.
\u2022 If the expected Playtech exit date is extended by one year, the fair value of the derivative financial asset will decrease to \u20ac75.8 million.
\u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac80.8 million \u2013 \u20ac88.6 million.
\u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac77.0 million \u2013 \u20ac92.4 million.
\u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac80.1 million \u2013 \u20ac89.3 million.
\u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac75.6 million \u2013 \u20ac94.0 million.
\u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac78.8 million \u2013 \u20ac90.6 million.
Onjoc
In June 2020, Playtech entered into a framework agreement with ONJOC CORP. (\u201cOnjoc\u201d), which holds a licence to operate online sports betting, gaming and
gambling activities in Panama. The Group has no equity holding in Onjoc but has an option to acquire 50%. Under the agreement the Group provides Onjoc its
technology products, where it receives standard operator revenue and additional B2B services fee as per Note 9. If the option is exercised, the Group would
no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the
year ended 31 December 2024 and 2023. The option can be exercised any time subject to Onjoc having $15.0 million of Gross Gaming Revenue (GGR) over a
consecutive 12-month period.
Assessment of control and significant influence
The Group performed an analysis for Onjoc to assess whether it holds power over Onjoc (in accordance with IFRS 10, paragraph 7) with the following
considerations:
\u2022 Playtech can propose an independent member to the board of directors, who has to be independent to both Playtech and Onjoc, and as such does not
have the ability to direct Onjoc\u2019s activities as it has no voting representation on the board;
\u2022 Playtech has the right to propose the COO, CTO and CMO, which although would form part of the wider management team, would not be able to control
the relevant activities of Onjoc by themselves; and
\u2022 if the option is exercised it would result in Playtech acquiring 50% of the voting rights of the operating entity and therefore would not result in having control.
Furthermore, as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power.
Per the above assessment Playtech does not hold power over the investee and as such does not have control.
Regarding the assessment of significant influence, the following facts were considered:
\u2022 Playtech can propose an independent member to the board of directors and has the right to propose the COO, CTO and CMO, which are potential
indicators of significant influence given their relative positions and the involvement in day-to-day operations of Onjoc;
\u2022 the standard operator revenue is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an
indicator of significant influence; and
\u2022 the Group provides additional services to Onjoc which Onjoc requires to assist it in successfully running its operations which could be considered essential
technical information.
The Group therefore has significant influence under IAS 28, paragraph 6 over Onjoc. However, as the option is not currently exercisable, the Group has an
investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset
in accordance with IFRS 9. The Group has given an interest-bearing loan to Onjoc of \u20ac3.3 million (2023: \u20ac2.3 million) which is due for repayment in December
2027 and is included in loans receivable from related parties (refer to Note 33).
Valuation
The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a
discount rate of 34% (2023: 32%) reflecting the cash flow risk given the high growth rates in place and the early stages of the business, as well as a discount
for illiquidity and control until the expected Playtech exit date of December 2028 (2023: expected exit date of December 2027). The Group used a compound
annual growth rate of 29.0% (2023: 49.2%) over the forecasted cash flow period and an average Adjusted EBITDA margin of 21.3% (2023: 24.2%). As part of
the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made
that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point, therefore no further discounts applied post
transaction. Furthermore, Playtech\u2019s share in Onjoc was adjusted to reflect the rights to shares that a service provider has under its services agreement with the
Group.
As at 31 December 2024, the fair value of the Onjoc derivative financial asset is \u20ac3.4 million. The difference of \u20ac0.3 million between the fair value at
31 December 2023 of \u20ac3.1 million and the fair value at 31 December 2024 has been recognised as follows:
a. \u20ac0.1 million derived from the fair value increase of the derivative call option calculated using the DCF model in profit or loss in the year ended
31 December 2024. This increase is mostly due to the assumed exercise date getting closer in 31 December 2024 than 31 December 2023 and the further
12 months roll forward of the valuation period.
b. \u20ac0.2 million derived from the fair value increase from the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary
of the Group whose functional currency is USD) in other comprehensive income in the year ended 31 December 2024.
Sensitivity analysis
The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that
factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value:
\u2022 A different discount rate within the range of 29% to 39% will result in a fair value of the derivative financial asset in the range of \u20ac2.9 million \u2013 \u20ac4.0 million.
\u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac3.2 million \u2013 \u20ac3.6 million.
\u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac3.0 million \u2013 \u20ac3.8 million.
\u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac2.7 million \u2013 \u20ac4.1 million.
\u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac2.1 million \u2013 \u20ac4.8 million.
\u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac2.8 million \u2013 \u20ac3.9 million.
Tenbet Costa Rica
In addition to the 6% equity holding in Tentech CR S.A as per section B of this Note, the Group has an option to acquire 81% equity holding in Tenbet. Tenbet,
which is another member of the Tenlot Group, operates online bingo games and casino side games. Playtech provides certain services to Tenbet in return for
its additional B2B services fee. The Group has no equity holding in Tenbet but has an option to acquire 81% equity. If the option is exercised, the Group would
no longer provide certain services to Tenbet and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was
\u20acNil in the year ended 31 December 2024 and 31 December 2023. In H1 2023, the Group signed an amendment to the Tenbet agreement in which the option
can be exercised at any time from July 2024 (previously 35 months of Tenbet going live). In H2 2023, the Group signed an amendment to the Tenbet agreement
in which the option can be exercised at any time from 1 January 2025 based on the condition that Tenbet has generated at least once, prior to the exercise,
accumulative GGR (as defined in the agreement) of at least $10.0 million, in a consecutive 12-month period. Based on the business plan used for the DCF
valuation, the accumulative GGR is not expected to be met before 31 December 2027.
The Group has given an interest-bearing loan to Tenbet of \u20ac6.0 million (2023: \u20ac4.2 million) which is due for repayment in December 2029 and is included in
loans receivable from related parties (refer to Note 33).
Assessment of control and significant influence
The Group assessed whether it holds power over Tenbet (in accordance with IFRS 10, paragraph 7) with the following considerations:
\u2022 Playtech does not have the ability to direct Tenbet\u2019s activities as it has no voting representation on the board of directors (or equivalent) or people in
managerial positions;
\u2022 Playtech has neither the ability to appoint, nor change, any members of the board of Tenbet; and
\u2022 as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power.
Per the above assessment, Playtech does not hold power over the investee and as such does not have control.
With regard to the assessment of significant influence, the standard operator revenue alone is not considered to give rise to significant influence. However,
when combined with the additional B2B services fee, this is an indicator of significant influence. Furthermore, the Group provides additional services to Tenbet
which Tenbet requires to assist it in successfully running its operations that could be considered essential technical information. Playtech therefore has
significant influence under IAS 28, paragraph 6 over Tenbet. However, as the option is not currently exercisable, the Group has an investment in associate but
with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9.
Valuation
The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount
rate of 34% (2023: 33%) reflecting the cash flow risk given the high growth rates in place and the early stages of the business, as well as a discount for illiquidity
and control until the expected Playtech exit date of December 2028 (2023: expected exit date of December 2028). The Group used a compound annual
growth rate of 91.4% (2023: 96.2%) over the forecasted cash flow period and an average Adjusted EBITDA margin of 1.1% (2023: average of 0.9%). As part of
the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that
if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point. Furthermore, Playtech\u2019s share in Tenbet was
adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group.
As at 31 December 2024, the fair value of the Tenbet derivative financial asset is \u20ac0.4 million, with the \u20ac1.3 million decrease from the fair value of \u20ac1.7 million at
31 December 2023 recognised in profit or loss for the year ended 31 December 2024, primarily due to downgraded cash flow forecasts based on Tenbet\u2019s
current performance, calculated using the DCF.
Tenlot El Salvador S.A. de C.V
During 2024, the Group entered into a new structured agreement with Tenlot El Salvador S.A. de C.V. (Tenlot El Salvador), which has a license to operate online
betting and gaming on behalf the national lottery of El Salvador. Under the agreement the Group will provide Tenlot El Salvador its technological platform, as well
as operational and other related services, where it will receive in return standard operator revenue and additional B2B services fee as per Note 9. The additional
B2B services fee was \u20acNil in the year ended 31 December 2024.The Group has no shareholding in Tenlot El Salvador.
Under the structured agreement, Playtech has paid Tenlot El Salvador an amount of $3.3 million with an additional $1.3 million to be paid in instalments upon
certain conditions being met, in exchange for an option to acquire 70% of the shares in Tenlot El Salvador. The option can be exercisable at any time after
18 months from February 2024 subject to Tenlot El Salvador generating at least once prior to the exercise, a cumulative gross gaming revenue of at least
$10.0 million in any consecutive period of 12 months.
Playtech also made available to Tenlot El Salvador a $5.5 million line of credit out. As at 31 December 2024, an amount of $0.5 million was withdrawn. The
carrying amount of the loan is \u20ac0.5 million as of 31 December 2024 and is included in loans receivable from related parties (refer to Note 33).
Assessment of control and significant influence
The Group assessed whether it holds power over Tenlot El Salvador (in accordance with IFRS 10, paragraph 7) with the following considerations:
\u2022 Playtech does not have the ability to direct Tenlot El Salvador\u2019s activities as it has no voting representation on the board of directors (or equivalent) or people
in managerial positions;
\u2022 Playtech has neither the ability to appoint, nor change, any members of the board of Tenlot El Salvador; and
\u2022 as at 31 December 2024, the option is not exercisable and therefore can be disregarded in the assessment of power.
Per the above assessment, Playtech does not hold power over the investee and as such does not have control.
Regarding the assessment of significant influence, the standard operator revenue alone is not considered to give rise to significant influence. However, when
combined with the additional B2B services fee, this is an indicator of significant influence. Furthermore, the Group will provide additional services to Tenlot El
Salvador which Tenlot El Salvador requires to assist it in successfully running its operations that could be considered essential technical information. Playtech
therefore has significant influence under IAS 28, paragraph 6 over Tenlot El Salvador. However, as the option is not currently exercisable, the Group has an
investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in
accordance with IFRS 9.
Valuation
As at 31 December 2024, the fair value of the Tenlot El Salvador derivative financial asset is \u20ac4.6 million. Since the date the derivative was acquired until
31 December 2024, there have been no changes in the operations of Tenlot El Salvador that would indicate that the fair value of the derivative financial asset
would be different to the original arm\u2019s length price payable of $4.8 million (\u20ac4.5 million).
The difference of \u20ac0.1 million between the fair value at acquisition and the fair value at 31 December 2024 is derived from the fair value increase from the
exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other
comprehensive income in the year ended 31 December 2024.
Note 26 \u2013 Loans and borrowings The main credit facility of the Group is a revolving credit facility (RCF) up to \u20ac277.0 million and is available until October 2025, with an option to extend by 12 months. Interest payable on the loan is based on SONIA depending on the currency of each withdrawal. As at the reporting date the credit facility drawn amounted to \u20acNil (2023: \u20acNil). Under the RCF, the covenants are monitored on a regular basis by the finance department, including modelling future projected cash flows under a number of scenarios to stress-test any risk of covenant breaches, the results of which are reported to management and the Board of Directors. The covenants are as follows: \u2022 Leverage: Net Debt/Adjusted EBITDA to be less than 3.5:1 for the year ended 31 December 2024 (2023: less than 3.5:1). \u2022 Interest cover: Adjusted EBITDA/Interest to be over 4:1 for the year ended 31 December 2024 (2023: over 4:1). As at 31 December 2024 and 2023 the Group met these financial covenants.
Note 35 \u2013 Financial instruments and risk management
The Group has exposure to the following risks arising from financial instruments:
\u2022 credit risk;
\u2022 liquidity risk; and
\u2022 market risk.
There have been no substantive changes in the Group\u2019s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or
the methods used to measure them from previous periods unless otherwise stated in this note.
The principal financial instruments of the Group, from which financial instrument risks arises, are as follows:
\u2022 trade receivables;
\u2022 loans receivable;
\u2022 convertible loans;
\u2022 cash and cash equivalents;
\u2022 investments in equity securities;
\u2022 derivative financial assets;
\u2022 trade payables;
\u2022 bonds;
\u2022 loans and borrowings; and
\u2022 deferred and contingent consideration.
Financial instrument by category
The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy.
Carrying amount
Fair value
Measurement 2024 Level 1 Level 2 Level 3
Note category \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
31 December 2024
Non-current assets
Equity investments
19B
FVTPL
152.1
11.1
\u2014
141.0
Derivative financial assets
19C
FVTPL
895.0
\u2014
\u2014
895.0
Loans receivable
20
Amortised cost
85.9
\u2014
\u2014
\u2014
Current assets
Trade receivables
21
Amortised cost
141.6
\u2014
\u2014
\u2014
Loans receivable
20
Amortised cost
7.3
\u2014
\u2014
\u2014
Cash and cash equivalents
23
Amortised cost
268.1
\u2014
\u2014
\u2014
Non-current liabilities
Bonds
27
Amortised cost
447.7
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
26.5
\u2014
\u2014
\u2014
Deferred and contingent and consideration
29
FVTPL
9.8
\u2014
\u2014
9.8
Current liabilities
Trade payables
30
Amortised cost
61.6
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
19.8
\u2014
\u2014
\u2014
Progressive operators\u2019 jackpots and security
deposits
23
Amortised cost
99.8
\u2014
\u2014
\u2014
Client funds
23
Amortised cost
2.5
\u2014
\u2014
\u2014
Deferred and contingent and consideration
29
FVTPL
8.1
\u2014
\u2014
8.1
Interest payable
32
Amortised cost
2.6
\u2014
\u2014
\u2014
Carrying amount
Fair value
Measurement 2024 Level 1 Level 2 Level 3
Note category \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Treated as held for sale
31 December 2024
Current assets
Trade receivables
24
Amortised cost
81.7
\u2014
\u2014
\u2014
Cash and cash equivalents
23
Amortised cost
185.9
\u2014
\u2014
\u2014
Current liabilities
Trade payables
24
Amortised cost
26.2
\u2014
\u2014
\u2014
Lease liability
24
Amortised cost
34.7
\u2014
\u2014
\u2014
Progressive operators\u2019 jackpots and security
deposits
24
Amortised cost
13.1
\u2014
\u2014
\u2014
Client funds
24
Amortised cost
33.7
\u2014
\u2014
\u2014
Contingent consideration
24
FVTPL
2.0
\u2014
\u2014
2.0
Carrying amount
Fair value
Measurement 2023 Level 1 Level 2 Level 3
Note category \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
31 December 2023
Non-current assets
Equity investments
19B
FVTPL
92.8
15.8
\u2014
77.0
Derivative financial assets
19C
FVTPL
827.8
\u2014
\u2014
827.8
Convertible loans
20
FVTPL
3.5
\u2014
\u2014
3.5
Trade receivables
21
Amortised cost
1.9
\u2014
\u2014
\u2014
Loans receivable
20
Amortised cost
58.1
\u2014
\u2014
\u2014
Current assets
Trade receivables
21
Amortised cost
207.1
\u2014
\u2014
\u2014
Loans receivables
20
Amortised cost
1.7
\u2014
\u2014
\u2014
Cash and cash equivalents
23
Amortised cost
516.2
\u2014
\u2014
\u2014
Non-current liabilities
Bonds
27
Amortised cost
646.1
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
61.9
\u2014
\u2014
\u2014
Contingent consideration
29
FVTPL
5.8
\u2014
\u2014
5.8
Current liabilities
Trade payables
30
Amortised cost
66.9
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
24.9
\u2014
\u2014
\u2014
Progressive operators\u2019 jackpots and security
deposits
23
Amortised cost
111.0
\u2014
\u2014
\u2014
Client funds
23
Amortised cost
41.9
\u2014
\u2014
\u2014
Contingent consideration
29
FVTPL
0.4
\u2014
\u2014
0.4
Interest payable
32
Amortised cost
5.9
\u2014
\u2014
\u2014
The fair value of the contingent consideration is calculated by discounting the estimated cash flows. The valuation model considers the present value of the
expected future payments, discounted using a risk adjusted discount rate.
For details of the fair value hierarchy, valuation techniques and significant unobservable inputs relating to determining the fair value of equity investments and
derivative financial assets, which are classified as Level 1 and 3 of the fair value hierarchy, refer to Note 6.
The carrying amount does not materially differ from the fair value of the financial assets and liabilities.
The Board has overall responsibility for the determination of the Group\u2019s risk management objectives and policies and, whilst retaining ultimate responsibility
for them, it has delegated the authority for designing and operating processes that ensure the effective implementation of the objectives and policies to the
Group\u2019s Finance function. The overall objective of the Board is to set policies that seek to reduce risk as far as possible without unduly affecting the Group\u2019s
competitiveness and flexibility.
Further details regarding these policies are set out below:
A. Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group
is exposed to credit risk from its operating activities (primarily trade receivables), its investing activities through loans made and from its financing activities,
including deposits with banks and financial institutions. After the impairment analysis performed at the reporting date, the expected credit losses (ECLs) are
\u20ac10.7 million (2023: \u20ac9.7 million). As at 31 December 2024, two customers had combined loans and receivables outstanding of \u20ac113.3 million
(2023: \u20ac139.7 million).
Cash and cash equivalents
The Group held cash and cash equivalents (before ECL) of \u20ac454.4 million as at 31 December 2024 including amounts shown in held for sale
(2023: \u20ac516.6 million). The cash and cash equivalents are held with bank and financial institution counterparties, which are rated from Caa- to AA+, based on
Moody\u2019s ratings.
Impairment on cash and cash equivalents has been measured on a 12-month expected credit loss basis and reflects the short maturities of the exposures. The
Group considers that its cash and cash equivalents have low credit risk based on the external credit ratings of the counterparties. The Group uses a similar
approach for assessment of ECLs for cash and cash equivalents to those used for trade receivables. The ECL on cash balances as at 31 December 2024 is
\u20ac0.4 million (2023: \u20ac0.4 million).
A reasonable movement in the inputs of the ECL calculation of cash and cash equivalents does not materially change the ECL to be recognised.
Financial
Financial institutions
institutions with below
with A- and A- rating
Tot al above rating and no rating
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
At 31 December 2024
268.5
254.9
13.6
At 31 December 2023
516.6
337.0
179.6
Treated as held for sale
At 31 December 2024
185.9
61.0
124.9
At 31 December 2023
\u2014
\u2014
\u2014
Trade receivables
The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors
that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate.
The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables.
To measure the ECL, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The trade balances from related
parties have also been included in the ECL assessment. The expected loss rates are calculated based on past default experience and an assessment of the
future economic environment. The ECL is calculated with reference to the ageing and risk profile of the balances.
As at 31 December 2024, the Group has trade receivables (including amounts disclosed as held for sale) of \u20ac223.2 million (2023: \u20ac209.0 million) which is net of
an allowance for ECL of \u20ac5.1 million (2023: \u20ac6.8 million).
The carrying amounts of financial assets represent the maximum credit exposure.
Set out below is the movement in the allowance for expected credit losses of trade receivables:
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
2.2%
2.2%
3.4%
2.1%
Trade receivables after specific provision
228.3
193.4
11.6
23.3
Expected credit loss
(5.1)
(4.2)
(0.4)
(0.5)
Trade receivables \u2013 net
223.2
189.2
11.2
22.8
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
3.2%
4.8%
1.0%
2.1 %
Trade receivables after specific provision
215.8
109.3
62.9
43.6
Expected credit loss
(6.8)
(5.3)
(0.6)
(0.9)
Trade receivables \u2013 net
209.0
104.0
62.3
42.7
A reasonable movement in the inputs of the ECL calculation of trade receivables does not materially change the ECL to be recognised.
Impairment losses on trade receivables and contract assets are presented as net impairment losses within the impairment of financial assets. Subsequent
recoveries of amounts previously written off are credited against the same line item.
The movement in the ECL in respect of trade receivables during the year was as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January
6.8
4.5
(Reversed) / Charged to profit or loss
(1.7)
2.3
Balance at 31 December
5.1
6.8
As at 31 December 2024, the Group has a significant concentration of trade receivables from a related party, representing 16% of the net trade receivable
balance (2023: 41%). This concentration of receivables from a related party exposes the Group to concentration risk, as any adverse financial performance or
inability of the related party to fulfil its obligations could have a material adverse impact on the Group\u2019s financial position, results of operations and cash flows.
The Group believes that this amount is recoverable and expects timely payment (refer to Note 6 for significant judgement made).
Loans receivable
The Group recognised an allowance for expected credit losses for all debt instruments given to third parties based on past default experience and assessment
of the future economic environment. For the year ended 31 December 2024, the Group recognised provision for expected credit losses of \u20ac5.2 million in profit
or loss relating to loans receivable (2023: \u20ac2.5 million).
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024/2023
2.5
1.6
Charged to profit or loss
2.7
0.9
Balance at 31 December 2024/2023
5.2
2.5
B. Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group\u2019s objective when managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted and include contractual interest payments. Balances due within one year equal their carrying balances as the impact of discounting is not significant.
Contractual cash flows
Carrying More than
amount Tot al Within 1 year 1\u20135 years 5 years
2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Bonds
447.7
519.7
24.0
495.7
\u2014
Lease liability
46.3
54.7
20.8
23.7
10.2
Deferred and contingent consideration
17.9
19.7
8.1
11.6
\u2014
Trade payables
61.6
61.6
61.6
\u2014
\u2014
Progressive operators\u2019 jackpots and security deposits
99.8
99.8
99.8
\u2014
\u2014
Client funds
2.5
2.5
2.5
\u2014
\u2014
Interest payable
2.6
2.6
2.6
\u2014
\u2014
678.4
760.6
219.4
531.0
10.2
Contractual cash flows
Carrying More than
amount Tot al Within 1 year 1\u20135 years 5 years
2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Bonds
646.1
762.8
32.5
730.3
\u2014
Lease liability
86.8
96.8
26.7
53.5
16.6
Deferred and contingent consideration
6.2
7.8
0.4
7.4
\u2014
Trade payables
66.9
66.9
66.9
\u2014
\u2014
Progressive operators\u2019 jackpots and security deposits
111.0
111.0
111.0
\u2014
\u2014
Client funds
41.9
41.9
41.9
\u2014
\u2014
Interest payable
5.9
5.9
5.9
\u2014
\u2014
Provisions for risks and charges
9.5
9.5
0.6
8.9
\u2014
974.3
1,102.6
285.9
800.1
16.6
C. Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices, will affect the Group\u2019s income or the value of its holding of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters while optimising the return. Currency risk Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. Foreign exchange risk arises because the Group has operations located in various parts of the world. However, the functional currency of those operations is the same as the Group\u2019s primary currency (Euro) and the Group is not substantially exposed to fluctuations in exchange rates in respect of assets held overseas. Foreign exchange risk also arises when the Group operations enter into foreign transactions, and when the Group holds cash balances, in currencies denominated in a currency other than the functional currency.
In other
In EUR In USD In GBP currencies Tot al
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
Cash and cash equivalents
180.9
11.7
61.8
14.1
268.5
Progressive operators\u2019 jackpots and security deposits
(87.8)
(1.0)
(13.5)
\u2014
(102.3)
Cash and cash equivalents less client funds
93.1
10.7
48.3
14.1
166.2
In other
In EUR In USD In GBP currencies Tot al
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Treated as held for sale
Cash and cash equivalents
185.9
\u2014
\u2014
\u2014
185.9
Progressive operators\u2019 jackpots and security deposits
(46.8)
\u2014
\u2014
\u2014
(46.8)
Cash and cash equivalents less client funds
139.1
\u2014
\u2014
\u2014
139.1
In other
In EUR In USD In GBP currencies Tot al
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cash and cash equivalents
418.7
11.2
69.7
17.0
516.6
Progressive operators\u2019 jackpots and security deposits
(140.3)
(0.4)
(12.2)
\u2014
(152.9)
Cash and cash equivalents less client funds
278.4
10.8
57.5
17.0
363.7
Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Group\u2019s
exposure to the risk of changes in market interest rates relates primarily to the Group\u2019s long-term debt obligations with floating interest rates. The Group
manages its interest rate risk by having a balanced portfolio of fixed and variable rate bonds and loans and borrowings. At 31 December 2024, none of the
Group\u2019s borrowings are at a variable rate of interest (2023: Nil%).
Any reasonably possible change to the interest rate would have an immaterial effect on the interest payable.
Equity price risk
The Group is exposed to market risk by way of holding some investments in other companies on a short-term basis. Variations in market value over the life of
these investments will have an immaterial impact on the balance sheet and the statement of comprehensive income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-702": { "value": "
Introduction
Below is a breakdown of the relevant assets at 31 December 2024 and 2023 per the consolidated balance sheet:
2024 2023
\u20ac\u2019m \u20ac\u2019m
A. Investments in associates
76.4
51.5
B. Other investments
152.1
92.8
C. Derivative financial assets
895.0
827.8
1,123.5
972.1
The following are the amounts recognised in the statement of comprehensive income:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit or loss
A. Share of loss from associates
(3.8)
(0.9)
B. Unrealised fair value changes of equity investments
51.1
(6.6)
C. Unrealised fair value changes of derivative financial assets
61.5
153.4
Other comprehensive income
Foreign exchange movement from the derivative call options and equity investments held in non-Euro functional currency
subsidiaries
12.4
(5.9)
121.2
140.0
Where the underlying derivative call option and equity investments are held in a non-Euro functional currency entity, the foreign exchange movement is
recorded through other comprehensive income. As at 31 December 2024, the foreign exchange movement of the derivative call options held in Caliplay and
NorthStar (Note 19C) is recorded in profit or loss as these options are held in Euro functional currency entities. The foreign exchange movement of the derivative
call options held in Wplay, Onjoc, Tenbet, Tenlot El Salvador S.A. de C.V (\u201cTenlot El Salvador\u201d) (Note 19C) and the small minority equity investment in Hard Rock
Digital (Note 19B) are recorded through other comprehensive income as these are held in USD functional currency entities.
The recognition and valuation methodologies for each category are explained in each of the relevant sections below, including key judgements made under
each arrangement as described in Note 6.
A. Investments in associates Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
\u2014
\u2014
ALFEA SPA
1.6
1.7
Galera
\u2014
\u2014
LSports
65.6
35.2
Stats International
\u2014
\u2014
NorthStar
5.4
9.0
Sporting News Holdings Limited
5.4
5.6
Total investment in equity accounted associates
78.0
51.5
Transfer to held for sale
(1.6)
\u2014
Total investment in equity accounted associates (continued operations)
76.4
51.5
Profit and loss impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Share of loss in Galera
\u2014
\u2014
Share of profit in LSports
\u2014
2.1
Share of loss in NorthStar
(3.6)
(2.8)
Share of loss in Sporting News Holdings Limited
(0.2)
(0.2)
Total profit and loss impact
(3.8)
(0.9)
Balance sheet movement
Sporting
News
Holdings
LSports NorthStar Limited Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance as at 31 December 2023/1 January 2024
35.2
9.0
5.6
49.8
Transfer of fair value of the option on exercise
4.8
\u2014
\u2014
4.8
Total consideration to acquire additional 18% shareholding (pre-dilution)
25.8
\u2014
\u2014
25.8
Share of loss
\u2014
(3.6)
(0.2)
(3.8)
Dividend income
(0.2)
\u2014
\u2014
(0.2)
Balance as at 31 December 2024
65.6
5.4
5.4
76.4
Caliplay Background During 2014, the Group entered into an agreement with Tur\u00edstica Akalli, S. A. de C.V, which has since changed its name to Corporacion Caliente S.A. de C.V. (\u201cCaliente\u201d), the majority owner of Tecnologia en Entretenimiento Caliplay, S.A.P.I. de C.V (\u201cCaliplay\u201d), which is a leading online betting and gaming operator in Mexico which operates the \u201cCaliente\u201d brand in Mexico. The Group made a \u20ac16.8 million loan to September Holdings B.V. (previously the 49% shareholder of Caliplay), a company which is 100% owned by Caliente, in return for a call option that would grant the Group the right to acquire 49% of the economic interest of Caliplay for a nominal amount (the \u201cPlaytech Call Option\u201d). During 2021, Caliplay redeemed its share at par from September Holdings, which resulted in Caliente owning substantially all of the shares in Caliplay. The terms of the existing structured agreement were varied, with the following key changes: \u2022 A new additional option (in addition to the Playtech Call Option) was granted to the Group which allowed the Group to take up to a 49% equity interest in a new acquisition vehicle should Caliplay be subject to a corporate transaction \u2013 this additional option is only exercisable in connection with a corporate transaction and therefore was not exercisable at 31 December 2024 or 31 December 2023 (the \u201cPlaytech M&A Call Option\u201d). \u2022 Caliente received a put option which would require Playtech to acquire September Holding Company B.V. for a nominal amount (the \u201cSeptember Put Option\u201d). This option has been exercised and the parties are in the process of transferring legal ownership of September Holding Company B.V. to the Group. The Group has no equity holding in Caliplay and is currently providing services to Caliplay including technical and general strategic support services for which it receives income (including an additional B2B services fee as described in Note 9). If either the Playtech Call Option or the Playtech M&A Call Option is exercised, the Group would no longer be entitled to receive the additional B2B services fee (and will cease to provide certain related services) which for the year ended 31 December 2024 was \u20ac80.6 million (2023: \u20ac111.7 million). In addition to the above, from 1 January 2025, if there is a change of control of Caliplay or any member of the Caliente group which holds a regulatory permit under which Caliplay operates, each of the Group and Caliente shall be entitled (but not obligated), within 60 days of the time of such change of control, to require that the Caliente group redeems the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) acquires Playtech\u2019s 49% stake in Caliplay (together the \u201cCOC Option\u201d). If such change of control were to take place and the right to redeem/acquire were to occur, this would extinguish the Playtech Call Option (to the extent not exercised prior thereto) and the Playtech M&A Call Option. The COC option was historically considered in the valuation of the Playtech M&A Option (refer to Note 19C). Finally, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay also had an option to redeem the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire Playtech\u2019s 49% stake in Caliplay (together the \u201cCaliente Call Option\u201d). As per the public announcement made by the Group on 6 February 2023, the Group was seeking a declaration from the English Courts to obtain clarification on a point of disagreement between the parties in relation to the Caliente Call Option. The Group believes the Caliente Call Option has expired and referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. If the Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option. As per the public announcement made in September 2024, the Group agreed a revised strategic agreement related to Caliplay. Under these revised terms, Playtech will hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay, incorporated in the United States and be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the Board of Cali Interactive. In the meantime, there is an agreed standstill of all the existing legal proceedings between Caliente, Caliplay and Playtech which were disclosed in the audited accounts for the year ended 31 December 2023 and in Note 6 of these financial statements (including the point of disagreement on the Caliente Call Option above), and those proceedings will be dismissed in full once the revised arrangements come into effect. The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been received, and completion of the revised arrangements is scheduled to take place on 31 March 2025. On closing of the revised arrangements, the Playtech Call Option, the Caliente Call Option and the COC Option will cease to exist and the Playtech M&A Call Option will have been exercised. Refer to Note 19C for further details. Assessment of control and significant influence As at 31 December 2024 and 2023 it was assessed that the Group did not have control over Caliplay, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 Despite the Group previously having a nominated director on the Caliplay board in 2020 and having consent rights on certain decisions (in each case, removed in 2021), there was no ability to control the relevant activities. \u2022 The Playtech Call Option or the Playtech M&A Call Option, if exercised, would result in Playtech having up to 49% of the voting rights and would not result in Playtech having control. \u2022 Whilst the Group currently does receive variable returns from its strategic agreement, it does not have the power to direct relevant activities so any variation cannot arise from such a power. As at 31 December 2024 and 2023, the Group has significant influence over Caliplay because it meets one or more of the criteria under IAS 28, paragraph 6 as follows: \u2022 The standard operator revenue by itself is not considered to give rise to significant influence; however, when combined with the additional B2B services fee, this is an indicator of significant influence. \u2022 The material transaction of the historical loan funding is also an indicator of significant influence. Accounting for each of the options The Playtech Call Option was exercisable at 31 December 2024 and 31 December 2023, although it was still unexercised as at 31 December 2024. As the Group has significant influence and the option is exercisable, the investment is recognised as an investment in associate using the equity accounting method which includes having current access to profits and losses. The cost of the investment was previously deemed to be the loan given through September Holdings of \u20ac16.8 million, which at the time was assessed under IAS 28, paragraph 38 as not recoverable for the foreseeable future and part of the overall investment in the entity. In 2021, with the introduction of the September Put Option, the investment in associate relating to the original Playtech Call Option was reduced to zero and the \u20ac16.8 million original loan amount was determined by management to be the cost of the new Playtech M&A Call Option and therefore fully offset the balance of \u20ac16.8 million against the overall fair value movement of the Playtech M&A Call Option (refer to part C of this Note). The Playtech M&A Call Option is not currently exercisable (although it will be amended, become exercisable and will be exercised in connection with the closing of the revised strategic agreement) and therefore in accordance with IAS 28, paragraph 14 has been recognised as derivative financial asset, and disclosed separately under part C of this Note. As per the judgement in Note 6, the Group did not consider it appropriate to equity account for the share of profits as the current 100% shareholder is entitled to any undistributed profits. Below is the financial information of Caliplay:
31 December 31 December
2024
1
2023
2
\u20ac\u2019m \u20ac\u2019m
Current assets
191.8
215.0
Non-current assets
18.2
23.9
Current liabilities
(204.5)
(123.6)
Non-current liabilities
\u2014
\u2014
Equity
5.5
115.3
Revenue
863.7
759.4
Profit from continuing operations
36.3
58.8
Other comprehensive income/(loss), net of tax
(20.5)
10.4
Total comprehensive income
15.8
69.2
1 The 2024 balances above have been extracted from Caliplay\u2019s draft 2024 financial statements. 2 The 2023 balances have been extracted from Caliplay\u2019s 2023 audited financial statements. Investment in ALFEA SPA The Group has held 30.7% equity shares in ALFEA SPA since June 2018. At 31 December 2024, the Group\u2019s value of the investment in ALFEA SPA was \u20ac1.6 million (31 December 2023: \u20ac1.7 million). A share of loss of \u20ac0.1 million was recognised in profit or loss within discontinued operations for the year ended 31 December 2024 (2023: a share of profit of \u20ac0.1 million was recognised in profit or loss within discontinued operations).The investment was shown as held for sale as at 31 December 2024. Investment in Galera In June 2021, the Group entered into an agreement with Ocean 88 Holdings Ltd (Ocean 88) (shareholder of Galera Gaming Group (together \u201cGalera\u201d), a company registered in Brazil. Galera offers and operates online and mobile sports betting and gaming (poker, casino, etc.) in Brazil. They will continue to do so under the local regulatory licence, which was obtained and became effective 1 January 2025, when regulation went live in Brazil. The Group\u2019s total consideration paid for the investment in Galera was $5.0 million (\u20ac4.2 million) in the year ended 31 December 2021, which was the consideration for the option to subscribe and purchase from Galera an amount of shares equal to 40% in Galera at nominal price. In addition to the investment amount paid, Playtech made available to Galera a line of credit up to $20.0 million. In 2022, an amendment was signed to the original framework agreement to increase the credit line to $45.0 million. As at 31 December 2024, an amount of \u20ac43.0 million, which is included in loans receivable from related parties (refer to Note 33), has been drawn down (31 December 2023: \u20ac39.2 million). An amount of \u20ac1.4 million has been loaned in the year ended 31 December 2024. The loan is required to be repaid to Playtech prior to any dividend distribution to the current shareholders of Galera. Galera repaid Playtech \u20ac1.5 million in the year ended 31 December 2024. The remainder of the year on year movement is additional interest charged, as well as foreign exchange gain on retranslation of the loan, which is denominated in US Dollars. The Group recognised an allowance for expected credit losses (ECL) for this loan of \u20ac2.8 million at 31 December 2024 (2023: \u20ac1.6 million). In respect of the loan receivable from Galera under this credit line, even though the framework agreement does not state a set repayment term, management has assessed that this should still be recognised as a loan as opposed to part of the overall investment in associate in line with IAS 28. The Directors have made a judgement that the loan will be settled from operational cash flows as opposed to being settled as part of an overall transaction. The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses as at 31 December 2022. The Galera Group continues to be loss-making as at 31 December 2024 and 31 December 2023. On 6 November 2023, Ocean 88 acquired 60% of F12.bet. Playtech loaned Galera the amount of $10.1 million (\u20ac9.5 million) for the acquisition of F12.bet. As at 31 December 2024, this amount was \u20ac10.1 million and is included in loans receivable from related parties (31 December 2023: \u20ac9.6 million) (refer to Note 33). The loan is repayable within five years from the disbursement date, in November 2028. The Group recognised an allowance for ECL for this loan of \u20ac0.7 million as at 31 December 2024 (2023: \u20ac0.4 million). On 15 May 2024, Playtech loaned an additional $10.0 million (\u20ac9.2 million) to Galera to acquire 60% of Luva.bet. Luva.bet is a recently established operator targeting the Brazilian market which commenced operations in April 2023. As at 31 December 2024, an amount of \u20ac9.5 million is included in loans receivable from related parties (Note 33). The loan is repayable within five years from the disbursement date, in May 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. On 6 December 2024, Playtech provided an additional credit facility of 70.0 million BRL (\u20ac11.0 million) to Galera to assist them in acquiring the Brazil licenses. An amount of \u20ac9.2 million was withdrawn as at 31 December 2024 and is included in loans receivable from related parties (Note 33). The loan is repayable in November 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. An additional ECL percentage of 5% was recorded for all Galera loans at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation within a country. This includes risks related to system integration, user experience, and compliance monitoring, which could result in the loss of players due to operational disruptions, penalties and loss of licenses for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023: \u20ac2.0 million). The total outstanding loans to Ocean88 as at 31 December 2024 is \u20ac71.8 million (31 December 2023: \u20ac48.8 million), including interest. Playtech has assessed whether it holds power to control Galera and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 40% voting right over the operating entity and therefore no control. Under the agreement in place: \u2022 the standard operator income to be generated from services provided to Galera when combined with the additional B2B services fee, the loan and certain other contractual rights, are all indicators of significant influence; and \u2022 the Group provides standard B2B services (similar to services provided to other B2B customers) as well as additional services to Galera that Galera requires to assist it in successfully running its operations, which could be considered essential technical information. Considering the above factors, the Group has significant influence under IAS 28, paragraph 6 over Galera. As the option is currently exercisable and gives Playtech access to the returns associated with the ownership interest, the investment is treated as an investment in associate. Playtech\u2019s interest in Galera is accounted for using the equity method in the consolidated financial statements. Galera is currently loss- making. If the call option is exercised by Playtech, the Group will no longer provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 (2023: \u20acNil). The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses. Investment in LSports Background In November 2022, the Group acquired 15% of Statscore for \u20ac1.8 million, making it a 100% subsidiary. Subsequently, the Group disposed of 100% of Statscore to LSports Data Ltd (\u2018\u2019LSports\u2019\u2019) for \u20ac7.5 million, less a novated inter-company loan of \u20ac1.6 million, resulting in a non-cash net consideration of \u20ac5.9 million. Additionally, the Group acquired 31% of LSports for \u20ac36.7 million, which included an option to acquire up to 18% more shares. Of the total consideration, \u20ac29.2 million was paid in cash. The Group exercised its option to acquire up to 49% (an additional 18%) of the equity of LSports in September 2024, increasing their shareholding to 49%. The Group paid LSports \u20ac18.9 million, calculated based on a valuation of LSports at \u20ac115.0 million. Upon finalisation of LSports\u2019 annual audited financial statements for the year ended 31 December 2024, an additional consideration of \u20ac6.9 million, based on EBITDA multiplied by a factor of seven, was recorded as deferred consideration and was paid in March 2025 (Note 38). Under IFRS 10, paragraph 7, the Company does not have control over the investee despite being the largest shareholder in LSports by holding 49% because the rest of the 51% shareholders form a consortium by virtue of being related (Note 6). LSports is a company whose principal activity is to empower sportsbooks and media companies with the highest quality sports data on a wide range of events, so they can build the best product possible for their business. The company is based in Israel. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports data market segment. Assessment of control and significant influence As at the date of acquisition, 31 December 2024 and 2023, it was assessed that the Group did not have control over LSports, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite the appointment and representation on the board of directors by a Playtech employee as at 31 December 2024, there is still no ability to control the relevant activities, as the total number of directors including the Playtech appointed director is five; \u2022 Playtech has neither the ability to change any members of the board nor of the management of LSports; and \u2022 as of 31 December 2024, despite Playtech\u2019s shareholding being 49%, under IFRS 10, paragraph 7, the Group does not have control over LSports because the other combined shareholding/voting power exceeds 50% and is collectively held by family members. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over LSports because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being the Playtech employee appointed on the board of LSports, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment, LSports has been recognised as an investment in associate. Purchase Price Allocation (PPA) The Group prepared an initial PPA following the acquisition of the investment in 2022, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of the LSports identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. The Group prepared an updated PPA in September 2024 upon acquiring the additional 18% stake in LSports. The difference again resulted in goodwill, included in the investment\u2019s carrying amount. Details of Playtech\u2019s share of net fair value of the identifiable assets and liabilities acquired are as follows:
Playtech\u2019s share of net fair
value of the identifiable assets
and liabilities acquired
2024
\u20ac\u2019m
Net book value of assets acquired
3.7
Fair value of customer contracts and relationships
28.4
Fair value of technology \u2013 internally developed
23.4
Fair value of brand
4.8
Deferred tax arising on acquisition
(4.3)
Total net assets
56.0
Resulting goodwill 14.0
The total share of profit recognised in profit or loss in the year ended 31 December 2024 from the investment is LSports was \u20acNil million (2023: \u20ac2.1 million). This includes the amortisation of intangibles and the release of the deferred tax liability, arising from the original acquisition of the investment and subsequent exercise of the option (2024: \u20ac2.9 million, 2023: \u20ac2.1 million) and the share of the LSports profits (2024: \u20ac2.9 million, 2023: \u20ac4.2 million), with a corresponding entry against the investment in associate on the consolidated balance sheet. During 2024, the Group received a dividend of \u20ac0.2 million from LSports (2023: \u20ac1.8 million), which reduced the investment in associate value in the consolidated balance sheet. Below is certain financial information of LSports:
31 December 31 December
2024
1
2023
1
\u20ac\u2019m \u20ac\u2019m
Current assets
9.5
10.9
Non-current assets
43.0
26.8
Current liabilities
(8.7)
(6.6)
Non-current liabilities
(8.3)
(2.3)
Equity
35.5
28.8
1 The 2024 and 2023 balances above have been extracted from LSport\u2019s audited consolidated financial statements. Investment in Stats International Background In January 2022, the Group provided a $2.3 million loan to Stats International Limited (\u201cStats\u201d), at an interest rate of 3.5% and a repayment date of 30 June 2024. As at 31 December 2024, the carrying value of the loan was \u20ac2.4 million and is included in loans receivable from related parties (Note 33) (2023: \u20ac2.2 million). The Stats group\u2019s business activities are focused on securing rights in connection with sporting competitions and the exploitation of the same, typically in exchange for the payment of certain fees and provision of analytical and statistical services by the Stats group to the relevant rightsholder. The initial focus of the Stats group is on Brazilian sports competitions. In May 2023, the Group and Stats signed an amended loan agreement which, amongst other things, changed the repayment obligations such that the final repayment date will be 31 December 2026 and the loan agreement will be novated from Stats to Jewelrock (Stats\u2019 sole shareholder) in consideration of $1. Moreover, a framework agreement was signed between Stats and Playtech whereby Playtech, for a \u20ac1 consideration, has been granted the option to acquire from Jewelrock 36% of the issued share capital of Stats. Finally, Playtech entered into a service agreement whereby Playtech provides Stats its business development and knowledge-sharing services in connection with the operational and industry standard procedures of Stats in exchange for additional B2B services fee as per Note 9. As the business is still a start-up, the additional B2B services fee as at 31 December 2024 was \u20acNil (2023: \u20acNil). Once the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The option may be exercised at any time but prior to the termination of all sporting rights agreements. It shall also lapse on the expiry or termination of the Playtech service agreement in accordance with its terms or at the written election of Playtech. Playtech has assessed whether it holds power to control the investee and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 36% voting right over the operating entity and therefore no control. However, Playtech has assessed whether the Group has significant influence over Stats and due to the existence of the service agreement whereby Playtech would be assisting a start-up business by providing knowledge-sharing services, these could be considered essential technical information. Considering this, it was concluded that the Group has significant influence under IAS 28, paragraph 6, over Stats. The cost of the option, which was considered to be the inherent value of Playtech allowing the loan repayment date to be extended, is considered negligible. No share of profits/losses have been recognised as at 31 December 2024 in profit or loss as these were immaterial. Investment in NorthStar Background NorthStar Gaming Inc. is a Canadian gaming brand incorporated in Ontario in Q4 2021. In Q2 2022, NorthStar received its license from the Alcohol and Gaming Commission of Ontario (AGCO) and launched its online gaming site, www.northstarbets.ca, offering regulated sports betting markets and a curated casino experience. Playtech saw this as an opportunity to expand its presence in the growing Canadian betting market. In December 2022, the Group issued NorthStar a convertible loan of CAD 12.25 million, which could be converted into common shares, A warrants, and B warrants upon the completion of a reverse takeover (RTO) transaction. Baden Resources, listed on the TSX, agreed to acquire NorthStar through an RTO. The loan\u2019s fair value as of 31 December 2022 was \u20ac8.4 million. In March 2023, the RTO was completed, and Baden Resources was renamed NorthStar Gaming Holdings (\u201cNorthStar\u201d). This triggered the automatic conversion of the Group\u2019s loan into NorthStar common shares, which were then exchanged for NorthStar common shares. The Group also received NorthStar Warrants, exercisable at CAD 0.85 and CAD 0.90 per share, expiring on the fifth anniversary of their issue. In September 2023, the Group entered into a subscription agreement with NorthStar, acquiring additional shares and warrants (exercisable at CAD 0.36 and CAD 0.40 per share) for CAD 5.0 million. This investment closed in October 2023, and Playtech also loaned NorthStar an 8% senior convertible debenture for CAD 5.0 million. As of 31 December 2024, Playtech owns approximately 25.8% of NorthStar\u2019s issued and outstanding common shares (down from 27.5% as of 31 December 2023 following NorthStar\u2019s issue of new shares in June 2024). If the convertible debenture is converted and all warrants are exercised, Playtech could potentially increase its stake to over 40%. The Group\u2019s convertible debenture has been classified at fair value through profit or loss based on IFRS 9 criteria. As at 31 December 2024, an amount of CAD 5.5 million (\u20ac3.6 million) is included in loans receivable from related parties (31 December 2023: \u20ac3.4 million) (Note 33). The loan is required to be repaid to Playtech by October 2026 or upon conversion (to the extent not fully converted) once conversion criteria are met. In April 2024, the Group signed a promissory note with NorthStar for the amount of CAD 3.0 million (\u20ac2.1 million), which is included in current assets as loans receivable from related parties (Note 33). The principal and the outstanding interest under the promissory note are required to be paid the earliest of: i. 12 months from April 2024; ii. the date on which Playtech declares the Indebtedness to be immediately due and payable following the occurrence of an event of default (as defined in agreement between Playtech and NorthStar); iii. the date on which NorthStar or any of its subsidiaries complete an offering of debt or equity securities to one or more third parties that, when aggregated with any other financing completed, results in gross proceeds to NorthStar and its subsidiaries of at least CAD 10 million. In September 2024 and December 2024 further promissory notes to the value of CAD 3.0 million (\u20ac2.1 million) and CAD 3.5 million (\u20ac2.3 million) respectively were issued to NorthStar to assist with its growth plans while establishing more medium to long-term financing, which are included in current assets as loans receivable from related parties (Note 33). All three of these promissory notes were repaid by NorthStar in January 2025 (Note 38). The fair value of all of Playtech\u2019s warrants is \u20acNil as at 31 December 2024 (2023: \u20acNil) (refer to Note 19C). Assessment of control and significant influence As at 31 December 2024 and 2023, it was assessed that the Group did not have control over NorthStar, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite representation on the NorthStar board of directors by Playtech\u2019s CFO and one more Playtech employee at 31 December 2023 and 31 December 2024, there is still no ability to control the relevant activities, as the total number of appointed directors is eight; and \u2022 Playtech has neither the ability to change any other members of the NorthStar board nor the management of NorthStar. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over NorthStar because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being that it has two appointed members sitting on the board of NorthStar, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment NorthStar has been recognised as an investment in associate. The NorthStar warrants are fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9 (refer to Note 19C). Purchase Price Allocation (PPA) The Group prepared a PPA following the acquisition of the investment, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of NorthStar\u2019s identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. Up until October 2023, Playtech\u2019s shareholding was diluted to 15% due to NorthStar issuing more shares as part of an acquisition they completed in May 2023. Playtech\u2019s shareholding at 31 December 2024 was 25.8% (31 December 2023: 27.5%). Playtech\u2019s shareholding decrease from 2023 to 2024 is due to NorthStar issuing more shares to new and existing shareholders. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in NorthStar was \u20ac3.6 million (2023: \u20ac2.8 million). This includes the amortisation of intangibles, arising on acquisition, and the share of NorthStar\u2019s losses, with a corresponding entry against the investment in associate on the consolidated balance sheet. Investment in Sporting News Holdings Limited Background In August 2023, the Group acquired 12.6% of Sporting News Holdings Limited (\u201cTSN\u201d), for a total consideration of $6.3 million (\u20ac5.8 million). TSN\u2019s principal activities are the sale of digital advertising and the offering of media services, the provision of multimedia sports content across internet-enabled digital platforms and the distribution directly to customers and business clients around the world. The company is incorporated in the Isle of Man. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports and media market segment. Assessment of control and significant influence As at the date of acquisition and at 31 December 2024 it was assessed that the Group did not have control over TSN, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite Playtech having the right to appoint a director on the TSN board, as at 31 December 2024 and 31 December 2023, one had not yet been appointed. Playtech has preferred to only appoint an observer to the board. Moreover, once Playtech appoints a director, there is still no ability to control the relevant activities, as the total number of directors including potentially one Playtech appointed director will be five; and \u2022 Playtech has neither the ability to change any members of the board nor of the management of TSN. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024, the Group has significant influence over TSN because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being Playtech having the ability to appoint a member on the board of TSN, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment TSN has been recognised as an investment in associate. The cost of the investment was deemed to be the consideration paid for the shares of $6.3 million (\u20ac5.8 million) in August 2023. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in TSN was \u20ac0.2 million (2023: \u20ac0.2 million). Other investments in associates that are fair valued under IFRS9 per IAS 28, paragraph 14 The following are also investments in associates where the Group has significant influence but where the option is not currently exercisable. As there is no current access to profits, the relevant option is fair valued under IFRS 9, and disclosed as derivative financial assets under part C of this Note: \u2022 Wplay; \u2022 Tenbet (Costa Rica); \u2022 Onjoc (Panama); and \u2022 Tenlot El Salvador S.A. de C.V The financial information required for investments in associates, other than Caliplay and LSports, has not been included here as from a Group perspective the Directors do not consider them to have a material impact jointly or separately. Note 34 \u2013 Subsidiaries Details of the Group\u2019s principal subsidiaries as at the end of the year are set out below:
Proportion of
voting rights
Country of and ordinary
Name incorporation
share capital held
Nature of business
Playtech Holdings Limited
Isle of Man
100%
Main trading company of the Group up to December 2020, which owned
the intellectual property rights and licensed the software to customers. From
January 2021 onwards, following the transfer of intellectual property rights
to Playtech Software Limited, the principal activity of this company is the
holding of investment in subsidiaries
Playtech Software Limited
United Kingdom
100%
Main trading company from 2021 onwards. Owns the intellectual property
rights and licenses the software to customers
Video B Holding Limited
British Virgin Islands
100%
Trading company for the Videobet software. Owns the intellectual property
rights of Videobet and licenses it to customers. From January 2021 onwards,
the principal activity is the holding of investment in subsidiaries
Playtech Services (Cyprus) Limited
Cyprus
100%
Manages the iPoker Network in regulated markets and is a main holding
company of the Group
VB (Video) Cyprus Limited
Cyprus
100%
Trading company for the Videobet product to Romanian companies
Virtue Fusion (Alderney) Limited
Alderney
100%
Online bingo and casino software provider
Intelligent Gaming Systems Limited
United Kingdom
100%
Casino management systems to land-based businesses
VF 2011
Limited
Alderney
100%
Holds licence in Alderney for online gaming and Bingo B2C operations
PT Turnkey Services Limited
Isle of Man
100%
Holding company of the Turnkey Services group
PT Entertenimiento Online EAD
Bulgaria
100%
Poker and bingo network for Spain
PT Marketing Services Limited
British Virgin Islands
100%
Holding company
PT Operational Services Limited
British Virgin Islands
100%
Holding company
PT Network Management Limited
British Virgin Islands
100%
Holding company
Videobet Interactive Sweden AB
Sweden
100%
Trading company for the Aristocrat Lotteries VLTs
Quickspin AB
Sweden
100%
Owns video slots intellectual property
Best Gaming Technology GmbH
Austria
100%
Trading company for sports betting
Playtech BGT Sports Limited
Cyprus
100%
Trading company for sports betting and provider of development services
ECM Systems Ltd
United Kingdom
100%
Owns bingo software intellectual property and bingo hardware
Eyecon Limited
Alderney
100%
Develops and provides online gaming slots
Rarestone Gaming PTY Ltd
Australia
100%
Development company
HPYBET Austria GmbH
Austria
100%
Operating shops in Austria
Snaitech SPA
Italy
100%
Italian retail betting market and gaming machine market
OU Playtech (Estonia)
Estonia
100%
Designs, develops and manufactures online software
Techplay Marketing Limited
Israel
100%
Provider of marketing support services, software development and support
services
OU Videobet
Estonia
100%
Develops software for fixed odds betting terminals and casino machines (as
opposed to online software)
Playtech Bulgaria EOOD
Bulgaria
100%
Designs, develops and manufactures online software
PTVB Management Limited
Isle of Man
100%
Management services company
Techplay S.A. Software Limited
Israel
100%
Software development and operational support services
CSMS Limited
Bulgaria
100%
Consulting and online technical support, data mining processing and
advertising services to Group companies
Mobenga AB Limited
Sweden
100%
Mobile sportsbook betting platform developer
PokerStrategy Ltd
Gibraltar
100%
Operates poker community business
Snai Rete Italia S.r.l.
Italy
100%
Italian retail betting market
PT Services UA LTD
Ukraine
100%
Designs, develops and manufactures software
Trinity Bet Operations Ltd
Malta
100%
Retail and digital sports betting
Euro live Technologies SIA
Latvia
100%
Provider of live services to Group companies
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-715": { "value": "A. Investments in associates Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
\u2014
\u2014
ALFEA SPA
1.6
1.7
Galera
\u2014
\u2014
LSports
65.6
35.2
Stats International
\u2014
\u2014
NorthStar
5.4
9.0
Sporting News Holdings Limited
5.4
5.6
Total investment in equity accounted associates
78.0
51.5
Transfer to held for sale
(1.6)
\u2014
Total investment in equity accounted associates (continued operations)
76.4
51.5
Profit and loss impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Share of loss in Galera
\u2014
\u2014
Share of profit in LSports
\u2014
2.1
Share of loss in NorthStar
(3.6)
(2.8)
Share of loss in Sporting News Holdings Limited
(0.2)
(0.2)
Total profit and loss impact
(3.8)
(0.9)
Balance sheet movement
Sporting
News
Holdings
LSports NorthStar Limited Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance as at 31 December 2023/1 January 2024
35.2
9.0
5.6
49.8
Transfer of fair value of the option on exercise
4.8
\u2014
\u2014
4.8
Total consideration to acquire additional 18% shareholding (pre-dilution)
25.8
\u2014
\u2014
25.8
Share of loss
\u2014
(3.6)
(0.2)
(3.8)
Dividend income
(0.2)
\u2014
\u2014
(0.2)
Balance as at 31 December 2024
65.6
5.4
5.4
76.4
Caliplay Background During 2014, the Group entered into an agreement with Tur\u00edstica Akalli, S. A. de C.V, which has since changed its name to Corporacion Caliente S.A. de C.V. (\u201cCaliente\u201d), the majority owner of Tecnologia en Entretenimiento Caliplay, S.A.P.I. de C.V (\u201cCaliplay\u201d), which is a leading online betting and gaming operator in Mexico which operates the \u201cCaliente\u201d brand in Mexico. The Group made a \u20ac16.8 million loan to September Holdings B.V. (previously the 49% shareholder of Caliplay), a company which is 100% owned by Caliente, in return for a call option that would grant the Group the right to acquire 49% of the economic interest of Caliplay for a nominal amount (the \u201cPlaytech Call Option\u201d). During 2021, Caliplay redeemed its share at par from September Holdings, which resulted in Caliente owning substantially all of the shares in Caliplay. The terms of the existing structured agreement were varied, with the following key changes: \u2022 A new additional option (in addition to the Playtech Call Option) was granted to the Group which allowed the Group to take up to a 49% equity interest in a new acquisition vehicle should Caliplay be subject to a corporate transaction \u2013 this additional option is only exercisable in connection with a corporate transaction and therefore was not exercisable at 31 December 2024 or 31 December 2023 (the \u201cPlaytech M&A Call Option\u201d). \u2022 Caliente received a put option which would require Playtech to acquire September Holding Company B.V. for a nominal amount (the \u201cSeptember Put Option\u201d). This option has been exercised and the parties are in the process of transferring legal ownership of September Holding Company B.V. to the Group. The Group has no equity holding in Caliplay and is currently providing services to Caliplay including technical and general strategic support services for which it receives income (including an additional B2B services fee as described in Note 9). If either the Playtech Call Option or the Playtech M&A Call Option is exercised, the Group would no longer be entitled to receive the additional B2B services fee (and will cease to provide certain related services) which for the year ended 31 December 2024 was \u20ac80.6 million (2023: \u20ac111.7 million). In addition to the above, from 1 January 2025, if there is a change of control of Caliplay or any member of the Caliente group which holds a regulatory permit under which Caliplay operates, each of the Group and Caliente shall be entitled (but not obligated), within 60 days of the time of such change of control, to require that the Caliente group redeems the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) acquires Playtech\u2019s 49% stake in Caliplay (together the \u201cCOC Option\u201d). If such change of control were to take place and the right to redeem/acquire were to occur, this would extinguish the Playtech Call Option (to the extent not exercised prior thereto) and the Playtech M&A Call Option. The COC option was historically considered in the valuation of the Playtech M&A Option (refer to Note 19C). Finally, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay also had an option to redeem the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire Playtech\u2019s 49% stake in Caliplay (together the \u201cCaliente Call Option\u201d). As per the public announcement made by the Group on 6 February 2023, the Group was seeking a declaration from the English Courts to obtain clarification on a point of disagreement between the parties in relation to the Caliente Call Option. The Group believes the Caliente Call Option has expired and referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. If the Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option. As per the public announcement made in September 2024, the Group agreed a revised strategic agreement related to Caliplay. Under these revised terms, Playtech will hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay, incorporated in the United States and be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the Board of Cali Interactive. In the meantime, there is an agreed standstill of all the existing legal proceedings between Caliente, Caliplay and Playtech which were disclosed in the audited accounts for the year ended 31 December 2023 and in Note 6 of these financial statements (including the point of disagreement on the Caliente Call Option above), and those proceedings will be dismissed in full once the revised arrangements come into effect. The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been received, and completion of the revised arrangements is scheduled to take place on 31 March 2025. On closing of the revised arrangements, the Playtech Call Option, the Caliente Call Option and the COC Option will cease to exist and the Playtech M&A Call Option will have been exercised. Refer to Note 19C for further details. Assessment of control and significant influence As at 31 December 2024 and 2023 it was assessed that the Group did not have control over Caliplay, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 Despite the Group previously having a nominated director on the Caliplay board in 2020 and having consent rights on certain decisions (in each case, removed in 2021), there was no ability to control the relevant activities. \u2022 The Playtech Call Option or the Playtech M&A Call Option, if exercised, would result in Playtech having up to 49% of the voting rights and would not result in Playtech having control. \u2022 Whilst the Group currently does receive variable returns from its strategic agreement, it does not have the power to direct relevant activities so any variation cannot arise from such a power. As at 31 December 2024 and 2023, the Group has significant influence over Caliplay because it meets one or more of the criteria under IAS 28, paragraph 6 as follows: \u2022 The standard operator revenue by itself is not considered to give rise to significant influence; however, when combined with the additional B2B services fee, this is an indicator of significant influence. \u2022 The material transaction of the historical loan funding is also an indicator of significant influence. Accounting for each of the options The Playtech Call Option was exercisable at 31 December 2024 and 31 December 2023, although it was still unexercised as at 31 December 2024. As the Group has significant influence and the option is exercisable, the investment is recognised as an investment in associate using the equity accounting method which includes having current access to profits and losses. The cost of the investment was previously deemed to be the loan given through September Holdings of \u20ac16.8 million, which at the time was assessed under IAS 28, paragraph 38 as not recoverable for the foreseeable future and part of the overall investment in the entity. In 2021, with the introduction of the September Put Option, the investment in associate relating to the original Playtech Call Option was reduced to zero and the \u20ac16.8 million original loan amount was determined by management to be the cost of the new Playtech M&A Call Option and therefore fully offset the balance of \u20ac16.8 million against the overall fair value movement of the Playtech M&A Call Option (refer to part C of this Note). The Playtech M&A Call Option is not currently exercisable (although it will be amended, become exercisable and will be exercised in connection with the closing of the revised strategic agreement) and therefore in accordance with IAS 28, paragraph 14 has been recognised as derivative financial asset, and disclosed separately under part C of this Note. As per the judgement in Note 6, the Group did not consider it appropriate to equity account for the share of profits as the current 100% shareholder is entitled to any undistributed profits. Below is the financial information of Caliplay:
31 December 31 December
2024
1
2023
2
\u20ac\u2019m \u20ac\u2019m
Current assets
191.8
215.0
Non-current assets
18.2
23.9
Current liabilities
(204.5)
(123.6)
Non-current liabilities
\u2014
\u2014
Equity
5.5
115.3
Revenue
863.7
759.4
Profit from continuing operations
36.3
58.8
Other comprehensive income/(loss), net of tax
(20.5)
10.4
Total comprehensive income
15.8
69.2
1 The 2024 balances above have been extracted from Caliplay\u2019s draft 2024 financial statements. 2 The 2023 balances have been extracted from Caliplay\u2019s 2023 audited financial statements. Investment in ALFEA SPA The Group has held 30.7% equity shares in ALFEA SPA since June 2018. At 31 December 2024, the Group\u2019s value of the investment in ALFEA SPA was \u20ac1.6 million (31 December 2023: \u20ac1.7 million). A share of loss of \u20ac0.1 million was recognised in profit or loss within discontinued operations for the year ended 31 December 2024 (2023: a share of profit of \u20ac0.1 million was recognised in profit or loss within discontinued operations).The investment was shown as held for sale as at 31 December 2024. Investment in Galera In June 2021, the Group entered into an agreement with Ocean 88 Holdings Ltd (Ocean 88) (shareholder of Galera Gaming Group (together \u201cGalera\u201d), a company registered in Brazil. Galera offers and operates online and mobile sports betting and gaming (poker, casino, etc.) in Brazil. They will continue to do so under the local regulatory licence, which was obtained and became effective 1 January 2025, when regulation went live in Brazil. The Group\u2019s total consideration paid for the investment in Galera was $5.0 million (\u20ac4.2 million) in the year ended 31 December 2021, which was the consideration for the option to subscribe and purchase from Galera an amount of shares equal to 40% in Galera at nominal price. In addition to the investment amount paid, Playtech made available to Galera a line of credit up to $20.0 million. In 2022, an amendment was signed to the original framework agreement to increase the credit line to $45.0 million. As at 31 December 2024, an amount of \u20ac43.0 million, which is included in loans receivable from related parties (refer to Note 33), has been drawn down (31 December 2023: \u20ac39.2 million). An amount of \u20ac1.4 million has been loaned in the year ended 31 December 2024. The loan is required to be repaid to Playtech prior to any dividend distribution to the current shareholders of Galera. Galera repaid Playtech \u20ac1.5 million in the year ended 31 December 2024. The remainder of the year on year movement is additional interest charged, as well as foreign exchange gain on retranslation of the loan, which is denominated in US Dollars. The Group recognised an allowance for expected credit losses (ECL) for this loan of \u20ac2.8 million at 31 December 2024 (2023: \u20ac1.6 million). In respect of the loan receivable from Galera under this credit line, even though the framework agreement does not state a set repayment term, management has assessed that this should still be recognised as a loan as opposed to part of the overall investment in associate in line with IAS 28. The Directors have made a judgement that the loan will be settled from operational cash flows as opposed to being settled as part of an overall transaction. The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses as at 31 December 2022. The Galera Group continues to be loss-making as at 31 December 2024 and 31 December 2023. On 6 November 2023, Ocean 88 acquired 60% of F12.bet. Playtech loaned Galera the amount of $10.1 million (\u20ac9.5 million) for the acquisition of F12.bet. As at 31 December 2024, this amount was \u20ac10.1 million and is included in loans receivable from related parties (31 December 2023: \u20ac9.6 million) (refer to Note 33). The loan is repayable within five years from the disbursement date, in November 2028. The Group recognised an allowance for ECL for this loan of \u20ac0.7 million as at 31 December 2024 (2023: \u20ac0.4 million). On 15 May 2024, Playtech loaned an additional $10.0 million (\u20ac9.2 million) to Galera to acquire 60% of Luva.bet. Luva.bet is a recently established operator targeting the Brazilian market which commenced operations in April 2023. As at 31 December 2024, an amount of \u20ac9.5 million is included in loans receivable from related parties (Note 33). The loan is repayable within five years from the disbursement date, in May 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. On 6 December 2024, Playtech provided an additional credit facility of 70.0 million BRL (\u20ac11.0 million) to Galera to assist them in acquiring the Brazil licenses. An amount of \u20ac9.2 million was withdrawn as at 31 December 2024 and is included in loans receivable from related parties (Note 33). The loan is repayable in November 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. An additional ECL percentage of 5% was recorded for all Galera loans at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation within a country. This includes risks related to system integration, user experience, and compliance monitoring, which could result in the loss of players due to operational disruptions, penalties and loss of licenses for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023: \u20ac2.0 million). The total outstanding loans to Ocean88 as at 31 December 2024 is \u20ac71.8 million (31 December 2023: \u20ac48.8 million), including interest. Playtech has assessed whether it holds power to control Galera and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 40% voting right over the operating entity and therefore no control. Under the agreement in place: \u2022 the standard operator income to be generated from services provided to Galera when combined with the additional B2B services fee, the loan and certain other contractual rights, are all indicators of significant influence; and \u2022 the Group provides standard B2B services (similar to services provided to other B2B customers) as well as additional services to Galera that Galera requires to assist it in successfully running its operations, which could be considered essential technical information. Considering the above factors, the Group has significant influence under IAS 28, paragraph 6 over Galera. As the option is currently exercisable and gives Playtech access to the returns associated with the ownership interest, the investment is treated as an investment in associate. Playtech\u2019s interest in Galera is accounted for using the equity method in the consolidated financial statements. Galera is currently loss- making. If the call option is exercised by Playtech, the Group will no longer provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 (2023: \u20acNil). The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses. Investment in LSports Background In November 2022, the Group acquired 15% of Statscore for \u20ac1.8 million, making it a 100% subsidiary. Subsequently, the Group disposed of 100% of Statscore to LSports Data Ltd (\u2018\u2019LSports\u2019\u2019) for \u20ac7.5 million, less a novated inter-company loan of \u20ac1.6 million, resulting in a non-cash net consideration of \u20ac5.9 million. Additionally, the Group acquired 31% of LSports for \u20ac36.7 million, which included an option to acquire up to 18% more shares. Of the total consideration, \u20ac29.2 million was paid in cash. The Group exercised its option to acquire up to 49% (an additional 18%) of the equity of LSports in September 2024, increasing their shareholding to 49%. The Group paid LSports \u20ac18.9 million, calculated based on a valuation of LSports at \u20ac115.0 million. Upon finalisation of LSports\u2019 annual audited financial statements for the year ended 31 December 2024, an additional consideration of \u20ac6.9 million, based on EBITDA multiplied by a factor of seven, was recorded as deferred consideration and was paid in March 2025 (Note 38). Under IFRS 10, paragraph 7, the Company does not have control over the investee despite being the largest shareholder in LSports by holding 49% because the rest of the 51% shareholders form a consortium by virtue of being related (Note 6). LSports is a company whose principal activity is to empower sportsbooks and media companies with the highest quality sports data on a wide range of events, so they can build the best product possible for their business. The company is based in Israel. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports data market segment. Assessment of control and significant influence As at the date of acquisition, 31 December 2024 and 2023, it was assessed that the Group did not have control over LSports, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite the appointment and representation on the board of directors by a Playtech employee as at 31 December 2024, there is still no ability to control the relevant activities, as the total number of directors including the Playtech appointed director is five; \u2022 Playtech has neither the ability to change any members of the board nor of the management of LSports; and \u2022 as of 31 December 2024, despite Playtech\u2019s shareholding being 49%, under IFRS 10, paragraph 7, the Group does not have control over LSports because the other combined shareholding/voting power exceeds 50% and is collectively held by family members. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over LSports because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being the Playtech employee appointed on the board of LSports, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment, LSports has been recognised as an investment in associate. Purchase Price Allocation (PPA) The Group prepared an initial PPA following the acquisition of the investment in 2022, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of the LSports identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. The Group prepared an updated PPA in September 2024 upon acquiring the additional 18% stake in LSports. The difference again resulted in goodwill, included in the investment\u2019s carrying amount. Details of Playtech\u2019s share of net fair value of the identifiable assets and liabilities acquired are as follows:
Playtech\u2019s share of net fair
value of the identifiable assets
and liabilities acquired
2024
\u20ac\u2019m
Net book value of assets acquired
3.7
Fair value of customer contracts and relationships
28.4
Fair value of technology \u2013 internally developed
23.4
Fair value of brand
4.8
Deferred tax arising on acquisition
(4.3)
Total net assets
56.0
Resulting goodwill 14.0
The total share of profit recognised in profit or loss in the year ended 31 December 2024 from the investment is LSports was \u20acNil million (2023: \u20ac2.1 million). This includes the amortisation of intangibles and the release of the deferred tax liability, arising from the original acquisition of the investment and subsequent exercise of the option (2024: \u20ac2.9 million, 2023: \u20ac2.1 million) and the share of the LSports profits (2024: \u20ac2.9 million, 2023: \u20ac4.2 million), with a corresponding entry against the investment in associate on the consolidated balance sheet. During 2024, the Group received a dividend of \u20ac0.2 million from LSports (2023: \u20ac1.8 million), which reduced the investment in associate value in the consolidated balance sheet. Below is certain financial information of LSports:
31 December 31 December
2024
1
2023
1
\u20ac\u2019m \u20ac\u2019m
Current assets
9.5
10.9
Non-current assets
43.0
26.8
Current liabilities
(8.7)
(6.6)
Non-current liabilities
(8.3)
(2.3)
Equity
35.5
28.8
1 The 2024 and 2023 balances above have been extracted from LSport\u2019s audited consolidated financial statements. Investment in Stats International Background In January 2022, the Group provided a $2.3 million loan to Stats International Limited (\u201cStats\u201d), at an interest rate of 3.5% and a repayment date of 30 June 2024. As at 31 December 2024, the carrying value of the loan was \u20ac2.4 million and is included in loans receivable from related parties (Note 33) (2023: \u20ac2.2 million). The Stats group\u2019s business activities are focused on securing rights in connection with sporting competitions and the exploitation of the same, typically in exchange for the payment of certain fees and provision of analytical and statistical services by the Stats group to the relevant rightsholder. The initial focus of the Stats group is on Brazilian sports competitions. In May 2023, the Group and Stats signed an amended loan agreement which, amongst other things, changed the repayment obligations such that the final repayment date will be 31 December 2026 and the loan agreement will be novated from Stats to Jewelrock (Stats\u2019 sole shareholder) in consideration of $1. Moreover, a framework agreement was signed between Stats and Playtech whereby Playtech, for a \u20ac1 consideration, has been granted the option to acquire from Jewelrock 36% of the issued share capital of Stats. Finally, Playtech entered into a service agreement whereby Playtech provides Stats its business development and knowledge-sharing services in connection with the operational and industry standard procedures of Stats in exchange for additional B2B services fee as per Note 9. As the business is still a start-up, the additional B2B services fee as at 31 December 2024 was \u20acNil (2023: \u20acNil). Once the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The option may be exercised at any time but prior to the termination of all sporting rights agreements. It shall also lapse on the expiry or termination of the Playtech service agreement in accordance with its terms or at the written election of Playtech. Playtech has assessed whether it holds power to control the investee and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 36% voting right over the operating entity and therefore no control. However, Playtech has assessed whether the Group has significant influence over Stats and due to the existence of the service agreement whereby Playtech would be assisting a start-up business by providing knowledge-sharing services, these could be considered essential technical information. Considering this, it was concluded that the Group has significant influence under IAS 28, paragraph 6, over Stats. The cost of the option, which was considered to be the inherent value of Playtech allowing the loan repayment date to be extended, is considered negligible. No share of profits/losses have been recognised as at 31 December 2024 in profit or loss as these were immaterial. Investment in NorthStar Background NorthStar Gaming Inc. is a Canadian gaming brand incorporated in Ontario in Q4 2021. In Q2 2022, NorthStar received its license from the Alcohol and Gaming Commission of Ontario (AGCO) and launched its online gaming site, www.northstarbets.ca, offering regulated sports betting markets and a curated casino experience. Playtech saw this as an opportunity to expand its presence in the growing Canadian betting market. In December 2022, the Group issued NorthStar a convertible loan of CAD 12.25 million, which could be converted into common shares, A warrants, and B warrants upon the completion of a reverse takeover (RTO) transaction. Baden Resources, listed on the TSX, agreed to acquire NorthStar through an RTO. The loan\u2019s fair value as of 31 December 2022 was \u20ac8.4 million. In March 2023, the RTO was completed, and Baden Resources was renamed NorthStar Gaming Holdings (\u201cNorthStar\u201d). This triggered the automatic conversion of the Group\u2019s loan into NorthStar common shares, which were then exchanged for NorthStar common shares. The Group also received NorthStar Warrants, exercisable at CAD 0.85 and CAD 0.90 per share, expiring on the fifth anniversary of their issue. In September 2023, the Group entered into a subscription agreement with NorthStar, acquiring additional shares and warrants (exercisable at CAD 0.36 and CAD 0.40 per share) for CAD 5.0 million. This investment closed in October 2023, and Playtech also loaned NorthStar an 8% senior convertible debenture for CAD 5.0 million. As of 31 December 2024, Playtech owns approximately 25.8% of NorthStar\u2019s issued and outstanding common shares (down from 27.5% as of 31 December 2023 following NorthStar\u2019s issue of new shares in June 2024). If the convertible debenture is converted and all warrants are exercised, Playtech could potentially increase its stake to over 40%. The Group\u2019s convertible debenture has been classified at fair value through profit or loss based on IFRS 9 criteria. As at 31 December 2024, an amount of CAD 5.5 million (\u20ac3.6 million) is included in loans receivable from related parties (31 December 2023: \u20ac3.4 million) (Note 33). The loan is required to be repaid to Playtech by October 2026 or upon conversion (to the extent not fully converted) once conversion criteria are met. In April 2024, the Group signed a promissory note with NorthStar for the amount of CAD 3.0 million (\u20ac2.1 million), which is included in current assets as loans receivable from related parties (Note 33). The principal and the outstanding interest under the promissory note are required to be paid the earliest of: i. 12 months from April 2024; ii. the date on which Playtech declares the Indebtedness to be immediately due and payable following the occurrence of an event of default (as defined in agreement between Playtech and NorthStar); iii. the date on which NorthStar or any of its subsidiaries complete an offering of debt or equity securities to one or more third parties that, when aggregated with any other financing completed, results in gross proceeds to NorthStar and its subsidiaries of at least CAD 10 million. In September 2024 and December 2024 further promissory notes to the value of CAD 3.0 million (\u20ac2.1 million) and CAD 3.5 million (\u20ac2.3 million) respectively were issued to NorthStar to assist with its growth plans while establishing more medium to long-term financing, which are included in current assets as loans receivable from related parties (Note 33). All three of these promissory notes were repaid by NorthStar in January 2025 (Note 38). The fair value of all of Playtech\u2019s warrants is \u20acNil as at 31 December 2024 (2023: \u20acNil) (refer to Note 19C). Assessment of control and significant influence As at 31 December 2024 and 2023, it was assessed that the Group did not have control over NorthStar, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite representation on the NorthStar board of directors by Playtech\u2019s CFO and one more Playtech employee at 31 December 2023 and 31 December 2024, there is still no ability to control the relevant activities, as the total number of appointed directors is eight; and \u2022 Playtech has neither the ability to change any other members of the NorthStar board nor the management of NorthStar. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over NorthStar because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being that it has two appointed members sitting on the board of NorthStar, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment NorthStar has been recognised as an investment in associate. The NorthStar warrants are fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9 (refer to Note 19C). Purchase Price Allocation (PPA) The Group prepared a PPA following the acquisition of the investment, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of NorthStar\u2019s identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. Up until October 2023, Playtech\u2019s shareholding was diluted to 15% due to NorthStar issuing more shares as part of an acquisition they completed in May 2023. Playtech\u2019s shareholding at 31 December 2024 was 25.8% (31 December 2023: 27.5%). Playtech\u2019s shareholding decrease from 2023 to 2024 is due to NorthStar issuing more shares to new and existing shareholders. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in NorthStar was \u20ac3.6 million (2023: \u20ac2.8 million). This includes the amortisation of intangibles, arising on acquisition, and the share of NorthStar\u2019s losses, with a corresponding entry against the investment in associate on the consolidated balance sheet. Investment in Sporting News Holdings Limited Background In August 2023, the Group acquired 12.6% of Sporting News Holdings Limited (\u201cTSN\u201d), for a total consideration of $6.3 million (\u20ac5.8 million). TSN\u2019s principal activities are the sale of digital advertising and the offering of media services, the provision of multimedia sports content across internet-enabled digital platforms and the distribution directly to customers and business clients around the world. The company is incorporated in the Isle of Man. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports and media market segment. Assessment of control and significant influence As at the date of acquisition and at 31 December 2024 it was assessed that the Group did not have control over TSN, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite Playtech having the right to appoint a director on the TSN board, as at 31 December 2024 and 31 December 2023, one had not yet been appointed. Playtech has preferred to only appoint an observer to the board. Moreover, once Playtech appoints a director, there is still no ability to control the relevant activities, as the total number of directors including potentially one Playtech appointed director will be five; and \u2022 Playtech has neither the ability to change any members of the board nor of the management of TSN. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024, the Group has significant influence over TSN because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being Playtech having the ability to appoint a member on the board of TSN, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment TSN has been recognised as an investment in associate. The cost of the investment was deemed to be the consideration paid for the shares of $6.3 million (\u20ac5.8 million) in August 2023. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in TSN was \u20ac0.2 million (2023: \u20ac0.2 million). Other investments in associates that are fair valued under IFRS9 per IAS 28, paragraph 14 The following are also investments in associates where the Group has significant influence but where the option is not currently exercisable. As there is no current access to profits, the relevant option is fair valued under IFRS 9, and disclosed as derivative financial assets under part C of this Note: \u2022 Wplay; \u2022 Tenbet (Costa Rica); \u2022 Onjoc (Panama); and \u2022 Tenlot El Salvador S.A. de C.V The financial information required for investments in associates, other than Caliplay and LSports, has not been included here as from a Group perspective the Directors do not consider them to have a material impact jointly or separately. B. Other investments Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Listed investments
11.1
15.8
Investment in Tenlot Guatemala
\u2014
\u2014
Investment in Tentech Costa Rica
\u2014
\u2014
Investment in Gameco
\u2014
\u2014
Investment in Hard Rock Digital
141.0
77.0
Total other investments
152.1
92.8
Statement of comprehensive income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit and loss
Change in fair value of equity investments
51.1
(6.6)
Impairment of investment in Gameco (included in the impairment of financial assets)
\u2014
(1.3)
51 .1
(7.9)
Other comprehensive income
Foreign exchange movement from equity investments held in a non-Euro functional subsidiary
6.4
(2.6)
Listed investments The Group has shares in listed securities, which includes new shares purchased during the year for \u20ac1.8 million (2023: \u20ac14.3 million). The fair values of these equity shares are determined by reference to published price quotations in an active market. For the year ended 31 December 2024, the fair values of these listed securities have decreased by \u20ac6.5 million (2023: increased by \u20ac0.1 million). Investment in Tenlot Guatemala In 2020, the Group entered into an agreement with Tenlot Guatemala, a member of the Tenlot Group. Tenlot Guatemala, which is in the lottery business in Guatemala, commenced its activity in 2018. The Group acquired a 10% equity holding in Tenlot Guatemala for a total consideration of $5.0 million (\u20ac4.4 million) in 2020, which has been accounted at fair value through profit or loss under IFRS 9. The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNil because of changes to market conditions which led to changes in its original business plans. The fair value of the equity holding has decreased by \u20ac4.4 million to \u20acNil in the year ended 31 December 2023. In addition, the Group was granted a 10% equity holding in Super Sports S.A. at no additional cost. The Group also has an option to acquire an additional 80% equity holding in Super Sports S.A. If the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil for the year ended 31 December 2024 (2023: \u20acNil). There are no conditions attached to the exercise of the option. The right of exercising the call option at any time and the acquisition of the additional 80% in Super Sports S.A. give Playtech: \u2022 power over the investee; \u2022 exposure, or rights, to variable returns from its involvement with the investee; and \u2022 the ability to use its power over the investee to affect the amount of the investor\u2019s returns. It therefore satisfies all the criteria of control under IFRS 10, paragraph 7 and, as such, at 31 December 2024 Super Sports S.A. has been consolidated in the consolidated financial statements of the Group, noting that this is not material from a Group perspective. Investment in Tentech Costa Rica In 2020, the Group entered into an agreement in Costa Rica with the Tenlot Group. The Group acquired a 6% equity holding in Tentech CR S.A., a member of the Tenlot Group, for a total consideration of $2.5 million (\u20ac2.1 million). Tentech CR S.A. sells printed bingo cards in accordance with article 29 of the Law of Raffles and Lotteries of Costa Rica (CRC \u2013 Costa Rican Red Cross Association). The 6% equity holding in Tentech CR S.A. is accounted at fair value through profit or loss under IFRS 9. The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNi because of changes to market conditions which led to changes in its original business plans. The fair value of the equity holding has decreased by \u20ac2.3 million to \u20acNil in the year ended 31 December 2023. Investment in Gameco In 2021, the Group entered into a convertible loan agreement with GameCo LLC (\u201cGameco\u201d), where it provided $4.0 million (\u20ac3.8 million) in the form of a debt security with 8% interest. In December 2022, Gameco acquired Green Jade Games and, subsequently, the Playtech debt was converted into equity shares, representing a 7.1% interest in the newly formed group. Immediately prior to the conversion, the loan was impaired by \u20ac3.0 million, and this has been recognised in profit or loss in the prior year. The 7.1% equity holding in the newly formed group was accounted at fair value through profit or loss under IFRS 9 at 31 December 2022. As at 31 December 2024 and 2023, the fair value of the equity holding has been \u20acNil. Investment in Hard Rock Digital In March 2023, the Group invested $85.0 million (\u20ac79.8 million in March 2023, \u20ac77.0 million at 31 December 2023) in Hard Rock Digital (HRD) in exchange for a small minority interest in a combination of equity shares and warrants. HRD is the exclusive Hard Rock International vehicle for interactive gaming and sports betting on a global basis and the primary vendor to the Seminole Tribe of Florida (the \u201cSeminole Tribe\u201d) for sports betting in the State of Florida. During late 2023 and 2024 positive outcomes were received in respect of claims made in both the Federal and Supreme Courts. Following this, sports betting was re-launched in Florida by the Seminole Tribe. The Group assessed whether the warrants met the definition of a separate derivative as per IFRS 9. A financial instrument or other contract should have all three of the following characteristics: \u2022 its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable, provided, in the case of a non-financial variable, that the variable is not specific to a party to the contract (sometimes called the \u201cunderlying\u201d); \u2022 it requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; and \u2022 it is settled at a future date. Management made a judgement that the warrants did not meet the definition of a separate derivative asset as: (i) the value of the warrants is part of the total investment and cannot be distinguished between the two and therefore the value of the warrants was deemed to be equal to the equity shares value; and (ii) the consideration was paid at the time of the transaction. Furthermore, the equity investment did not meet the definition of held for trading, as the investment was acquired for long-term investment purposes and with no current intention for sale. The investment was therefore classified as an investment held at fair value through profit or loss with initial and subsequent recognition at fair value, with any subsequent gain/loss recognised in profit or loss. In the year ended 31 December 2024, the Group received a dividend of \u20ac3.1 million (2023: \u20acNil) from HRD, recognised in finance income. Valuation The Group has assessed the fair value of the investment at 31 December 2024 by applying a DCF approach with a market exit multiple assumption to the two CGUs within the investment. The discount rate and exit multiples used were within the range of 19%-29% and 8.5x-10.0x respectively. Due to the small minority interest and the limited influence Playtech has over HRD, the Group included a discount for lack of control of 10%, as well as a 15%-20% discount for lack of marketability due to the shares not being publicly traded. As at 31 December 2024, the fair value of the equity investment in HRD increased to \u20ac141.0 million ($146.5 million). The difference of \u20ac64.0 million between the fair value at 31 December 2023 of \u20ac77.0 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac57.6 million derived from the fair value increase of the equity investment calculated using the DCF model in profit or loss for the period ended 31 December 2024. The increase was mainly driven by the performance of the business, positive developments in the regulatory environment which primarily aided the relaunch of the Florida sports operations by the Seminole Tribe in late 2023. b. \u20ac6.4 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the equity investment is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024. The Group will continue to monitor the development of the HRD business including the wider regulatory landscape internationally, as well as in the key operational states in the US which can impact the value of the equity investment. Sensitivity analysis The assumptions and judgements made in the valuation of the equity investment as at 31 December 2024 include the following sensitivities, noting that factors and circumstances, for example regulatory changes, that may arise that are outside the Group and HRD\u2019s control which could impact the option value positively or negatively: \u2022 A plus or minus shift of 5% to the discount rates used will result in a fair value of the equity investment within the range of \u20ac127.1 million \u2013 \u20ac159.8 million. \u2022 An increase or decrease of 2.0x on the 2029 exit multiple will result in a fair value change of the equity investment within the range of \u20ac124.7 million to \u20ac157.9 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the equity investment within the range of \u20ac105.9 million \u2013 \u20ac190.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the equity investment within the range of \u20ac130.0 million \u2013 \u20ac152.6 million. Note 34 \u2013 Subsidiaries Details of the Group\u2019s principal subsidiaries as at the end of the year are set out below:
Proportion of
voting rights
Country of and ordinary
Name incorporation
share capital held
Nature of business
Playtech Holdings Limited
Isle of Man
100%
Main trading company of the Group up to December 2020, which owned
the intellectual property rights and licensed the software to customers. From
January 2021 onwards, following the transfer of intellectual property rights
to Playtech Software Limited, the principal activity of this company is the
holding of investment in subsidiaries
Playtech Software Limited
United Kingdom
100%
Main trading company from 2021 onwards. Owns the intellectual property
rights and licenses the software to customers
Video B Holding Limited
British Virgin Islands
100%
Trading company for the Videobet software. Owns the intellectual property
rights of Videobet and licenses it to customers. From January 2021 onwards,
the principal activity is the holding of investment in subsidiaries
Playtech Services (Cyprus) Limited
Cyprus
100%
Manages the iPoker Network in regulated markets and is a main holding
company of the Group
VB (Video) Cyprus Limited
Cyprus
100%
Trading company for the Videobet product to Romanian companies
Virtue Fusion (Alderney) Limited
Alderney
100%
Online bingo and casino software provider
Intelligent Gaming Systems Limited
United Kingdom
100%
Casino management systems to land-based businesses
VF 2011
Limited
Alderney
100%
Holds licence in Alderney for online gaming and Bingo B2C operations
PT Turnkey Services Limited
Isle of Man
100%
Holding company of the Turnkey Services group
PT Entertenimiento Online EAD
Bulgaria
100%
Poker and bingo network for Spain
PT Marketing Services Limited
British Virgin Islands
100%
Holding company
PT Operational Services Limited
British Virgin Islands
100%
Holding company
PT Network Management Limited
British Virgin Islands
100%
Holding company
Videobet Interactive Sweden AB
Sweden
100%
Trading company for the Aristocrat Lotteries VLTs
Quickspin AB
Sweden
100%
Owns video slots intellectual property
Best Gaming Technology GmbH
Austria
100%
Trading company for sports betting
Playtech BGT Sports Limited
Cyprus
100%
Trading company for sports betting and provider of development services
ECM Systems Ltd
United Kingdom
100%
Owns bingo software intellectual property and bingo hardware
Eyecon Limited
Alderney
100%
Develops and provides online gaming slots
Rarestone Gaming PTY Ltd
Australia
100%
Development company
HPYBET Austria GmbH
Austria
100%
Operating shops in Austria
Snaitech SPA
Italy
100%
Italian retail betting market and gaming machine market
OU Playtech (Estonia)
Estonia
100%
Designs, develops and manufactures online software
Techplay Marketing Limited
Israel
100%
Provider of marketing support services, software development and support
services
OU Videobet
Estonia
100%
Develops software for fixed odds betting terminals and casino machines (as
opposed to online software)
Playtech Bulgaria EOOD
Bulgaria
100%
Designs, develops and manufactures online software
PTVB Management Limited
Isle of Man
100%
Management services company
Techplay S.A. Software Limited
Israel
100%
Software development and operational support services
CSMS Limited
Bulgaria
100%
Consulting and online technical support, data mining processing and
advertising services to Group companies
Mobenga AB Limited
Sweden
100%
Mobile sportsbook betting platform developer
PokerStrategy Ltd
Gibraltar
100%
Operates poker community business
Snai Rete Italia S.r.l.
Italy
100%
Italian retail betting market
PT Services UA LTD
Ukraine
100%
Designs, develops and manufactures software
Trinity Bet Operations Ltd
Malta
100%
Retail and digital sports betting
Euro live Technologies SIA
Latvia
100%
Provider of live services to Group companies
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-676": { "value": "A. Investments in associates Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
\u2014
\u2014
ALFEA SPA
1.6
1.7
Galera
\u2014
\u2014
LSports
65.6
35.2
Stats International
\u2014
\u2014
NorthStar
5.4
9.0
Sporting News Holdings Limited
5.4
5.6
Total investment in equity accounted associates
78.0
51.5
Transfer to held for sale
(1.6)
\u2014
Total investment in equity accounted associates (continued operations)
76.4
51.5
Profit and loss impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Share of loss in Galera
\u2014
\u2014
Share of profit in LSports
\u2014
2.1
Share of loss in NorthStar
(3.6)
(2.8)
Share of loss in Sporting News Holdings Limited
(0.2)
(0.2)
Total profit and loss impact
(3.8)
(0.9)
Balance sheet movement
Sporting
News
Holdings
LSports NorthStar Limited Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance as at 31 December 2023/1 January 2024
35.2
9.0
5.6
49.8
Transfer of fair value of the option on exercise
4.8
\u2014
\u2014
4.8
Total consideration to acquire additional 18% shareholding (pre-dilution)
25.8
\u2014
\u2014
25.8
Share of loss
\u2014
(3.6)
(0.2)
(3.8)
Dividend income
(0.2)
\u2014
\u2014
(0.2)
Balance as at 31 December 2024
65.6
5.4
5.4
76.4
Caliplay Background During 2014, the Group entered into an agreement with Tur\u00edstica Akalli, S. A. de C.V, which has since changed its name to Corporacion Caliente S.A. de C.V. (\u201cCaliente\u201d), the majority owner of Tecnologia en Entretenimiento Caliplay, S.A.P.I. de C.V (\u201cCaliplay\u201d), which is a leading online betting and gaming operator in Mexico which operates the \u201cCaliente\u201d brand in Mexico. The Group made a \u20ac16.8 million loan to September Holdings B.V. (previously the 49% shareholder of Caliplay), a company which is 100% owned by Caliente, in return for a call option that would grant the Group the right to acquire 49% of the economic interest of Caliplay for a nominal amount (the \u201cPlaytech Call Option\u201d). During 2021, Caliplay redeemed its share at par from September Holdings, which resulted in Caliente owning substantially all of the shares in Caliplay. The terms of the existing structured agreement were varied, with the following key changes: \u2022 A new additional option (in addition to the Playtech Call Option) was granted to the Group which allowed the Group to take up to a 49% equity interest in a new acquisition vehicle should Caliplay be subject to a corporate transaction \u2013 this additional option is only exercisable in connection with a corporate transaction and therefore was not exercisable at 31 December 2024 or 31 December 2023 (the \u201cPlaytech M&A Call Option\u201d). \u2022 Caliente received a put option which would require Playtech to acquire September Holding Company B.V. for a nominal amount (the \u201cSeptember Put Option\u201d). This option has been exercised and the parties are in the process of transferring legal ownership of September Holding Company B.V. to the Group. The Group has no equity holding in Caliplay and is currently providing services to Caliplay including technical and general strategic support services for which it receives income (including an additional B2B services fee as described in Note 9). If either the Playtech Call Option or the Playtech M&A Call Option is exercised, the Group would no longer be entitled to receive the additional B2B services fee (and will cease to provide certain related services) which for the year ended 31 December 2024 was \u20ac80.6 million (2023: \u20ac111.7 million). In addition to the above, from 1 January 2025, if there is a change of control of Caliplay or any member of the Caliente group which holds a regulatory permit under which Caliplay operates, each of the Group and Caliente shall be entitled (but not obligated), within 60 days of the time of such change of control, to require that the Caliente group redeems the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) acquires Playtech\u2019s 49% stake in Caliplay (together the \u201cCOC Option\u201d). If such change of control were to take place and the right to redeem/acquire were to occur, this would extinguish the Playtech Call Option (to the extent not exercised prior thereto) and the Playtech M&A Call Option. The COC option was historically considered in the valuation of the Playtech M&A Option (refer to Note 19C). Finally, for 45 days after the finalisation of Caliplay\u2019s 2021 accounts, Caliplay also had an option to redeem the Group\u2019s additional B2B services fee or (if the Playtech Call Option had been exercised at that time) Caliente would have the option to acquire Playtech\u2019s 49% stake in Caliplay (together the \u201cCaliente Call Option\u201d). As per the public announcement made by the Group on 6 February 2023, the Group was seeking a declaration from the English Courts to obtain clarification on a point of disagreement between the parties in relation to the Caliente Call Option. The Group believes the Caliente Call Option has expired and referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. If the Caliente Call Option was declared as being exercisable and was exercised, this would extinguish the Playtech Call Option and the Playtech M&A Call Option. As per the public announcement made in September 2024, the Group agreed a revised strategic agreement related to Caliplay. Under these revised terms, Playtech will hold a 30.8% equity interest in Caliente Interactive, Inc. (\u201cCali Interactive\u201d), which will be the new holding company of Caliplay, incorporated in the United States and be entitled to receive dividends alongside other shareholders in Cali Interactive. Playtech will also have the right to appoint a Director to the Board of Cali Interactive. In the meantime, there is an agreed standstill of all the existing legal proceedings between Caliente, Caliplay and Playtech which were disclosed in the audited accounts for the year ended 31 December 2023 and in Note 6 of these financial statements (including the point of disagreement on the Caliente Call Option above), and those proceedings will be dismissed in full once the revised arrangements come into effect. The revised arrangements are conditional upon Mexican antitrust approval. On 21 March 2025, the Group announced that all necessary approvals have been received, and completion of the revised arrangements is scheduled to take place on 31 March 2025. On closing of the revised arrangements, the Playtech Call Option, the Caliente Call Option and the COC Option will cease to exist and the Playtech M&A Call Option will have been exercised. Refer to Note 19C for further details. Assessment of control and significant influence As at 31 December 2024 and 2023 it was assessed that the Group did not have control over Caliplay, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 Despite the Group previously having a nominated director on the Caliplay board in 2020 and having consent rights on certain decisions (in each case, removed in 2021), there was no ability to control the relevant activities. \u2022 The Playtech Call Option or the Playtech M&A Call Option, if exercised, would result in Playtech having up to 49% of the voting rights and would not result in Playtech having control. \u2022 Whilst the Group currently does receive variable returns from its strategic agreement, it does not have the power to direct relevant activities so any variation cannot arise from such a power. As at 31 December 2024 and 2023, the Group has significant influence over Caliplay because it meets one or more of the criteria under IAS 28, paragraph 6 as follows: \u2022 The standard operator revenue by itself is not considered to give rise to significant influence; however, when combined with the additional B2B services fee, this is an indicator of significant influence. \u2022 The material transaction of the historical loan funding is also an indicator of significant influence. Accounting for each of the options The Playtech Call Option was exercisable at 31 December 2024 and 31 December 2023, although it was still unexercised as at 31 December 2024. As the Group has significant influence and the option is exercisable, the investment is recognised as an investment in associate using the equity accounting method which includes having current access to profits and losses. The cost of the investment was previously deemed to be the loan given through September Holdings of \u20ac16.8 million, which at the time was assessed under IAS 28, paragraph 38 as not recoverable for the foreseeable future and part of the overall investment in the entity. In 2021, with the introduction of the September Put Option, the investment in associate relating to the original Playtech Call Option was reduced to zero and the \u20ac16.8 million original loan amount was determined by management to be the cost of the new Playtech M&A Call Option and therefore fully offset the balance of \u20ac16.8 million against the overall fair value movement of the Playtech M&A Call Option (refer to part C of this Note). The Playtech M&A Call Option is not currently exercisable (although it will be amended, become exercisable and will be exercised in connection with the closing of the revised strategic agreement) and therefore in accordance with IAS 28, paragraph 14 has been recognised as derivative financial asset, and disclosed separately under part C of this Note. As per the judgement in Note 6, the Group did not consider it appropriate to equity account for the share of profits as the current 100% shareholder is entitled to any undistributed profits. Below is the financial information of Caliplay:
31 December 31 December
2024
1
2023
2
\u20ac\u2019m \u20ac\u2019m
Current assets
191.8
215.0
Non-current assets
18.2
23.9
Current liabilities
(204.5)
(123.6)
Non-current liabilities
\u2014
\u2014
Equity
5.5
115.3
Revenue
863.7
759.4
Profit from continuing operations
36.3
58.8
Other comprehensive income/(loss), net of tax
(20.5)
10.4
Total comprehensive income
15.8
69.2
1 The 2024 balances above have been extracted from Caliplay\u2019s draft 2024 financial statements. 2 The 2023 balances have been extracted from Caliplay\u2019s 2023 audited financial statements. Investment in ALFEA SPA The Group has held 30.7% equity shares in ALFEA SPA since June 2018. At 31 December 2024, the Group\u2019s value of the investment in ALFEA SPA was \u20ac1.6 million (31 December 2023: \u20ac1.7 million). A share of loss of \u20ac0.1 million was recognised in profit or loss within discontinued operations for the year ended 31 December 2024 (2023: a share of profit of \u20ac0.1 million was recognised in profit or loss within discontinued operations).The investment was shown as held for sale as at 31 December 2024. Investment in Galera In June 2021, the Group entered into an agreement with Ocean 88 Holdings Ltd (Ocean 88) (shareholder of Galera Gaming Group (together \u201cGalera\u201d), a company registered in Brazil. Galera offers and operates online and mobile sports betting and gaming (poker, casino, etc.) in Brazil. They will continue to do so under the local regulatory licence, which was obtained and became effective 1 January 2025, when regulation went live in Brazil. The Group\u2019s total consideration paid for the investment in Galera was $5.0 million (\u20ac4.2 million) in the year ended 31 December 2021, which was the consideration for the option to subscribe and purchase from Galera an amount of shares equal to 40% in Galera at nominal price. In addition to the investment amount paid, Playtech made available to Galera a line of credit up to $20.0 million. In 2022, an amendment was signed to the original framework agreement to increase the credit line to $45.0 million. As at 31 December 2024, an amount of \u20ac43.0 million, which is included in loans receivable from related parties (refer to Note 33), has been drawn down (31 December 2023: \u20ac39.2 million). An amount of \u20ac1.4 million has been loaned in the year ended 31 December 2024. The loan is required to be repaid to Playtech prior to any dividend distribution to the current shareholders of Galera. Galera repaid Playtech \u20ac1.5 million in the year ended 31 December 2024. The remainder of the year on year movement is additional interest charged, as well as foreign exchange gain on retranslation of the loan, which is denominated in US Dollars. The Group recognised an allowance for expected credit losses (ECL) for this loan of \u20ac2.8 million at 31 December 2024 (2023: \u20ac1.6 million). In respect of the loan receivable from Galera under this credit line, even though the framework agreement does not state a set repayment term, management has assessed that this should still be recognised as a loan as opposed to part of the overall investment in associate in line with IAS 28. The Directors have made a judgement that the loan will be settled from operational cash flows as opposed to being settled as part of an overall transaction. The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses as at 31 December 2022. The Galera Group continues to be loss-making as at 31 December 2024 and 31 December 2023. On 6 November 2023, Ocean 88 acquired 60% of F12.bet. Playtech loaned Galera the amount of $10.1 million (\u20ac9.5 million) for the acquisition of F12.bet. As at 31 December 2024, this amount was \u20ac10.1 million and is included in loans receivable from related parties (31 December 2023: \u20ac9.6 million) (refer to Note 33). The loan is repayable within five years from the disbursement date, in November 2028. The Group recognised an allowance for ECL for this loan of \u20ac0.7 million as at 31 December 2024 (2023: \u20ac0.4 million). On 15 May 2024, Playtech loaned an additional $10.0 million (\u20ac9.2 million) to Galera to acquire 60% of Luva.bet. Luva.bet is a recently established operator targeting the Brazilian market which commenced operations in April 2023. As at 31 December 2024, an amount of \u20ac9.5 million is included in loans receivable from related parties (Note 33). The loan is repayable within five years from the disbursement date, in May 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. On 6 December 2024, Playtech provided an additional credit facility of 70.0 million BRL (\u20ac11.0 million) to Galera to assist them in acquiring the Brazil licenses. An amount of \u20ac9.2 million was withdrawn as at 31 December 2024 and is included in loans receivable from related parties (Note 33). The loan is repayable in November 2029. The Group recognised an allowance for ECL for this loan of \u20ac0.6 million as at 31 December 2024. An additional ECL percentage of 5% was recorded for all Galera loans at 31 December 2024 to reflect the risk that any operator faces at the verge of regulation within a country. This includes risks related to system integration, user experience, and compliance monitoring, which could result in the loss of players due to operational disruptions, penalties and loss of licenses for Galera. The total ECL on Galera loans at 31 December 2024 is \u20ac4.7 million (31 December 2023: \u20ac2.0 million). The total outstanding loans to Ocean88 as at 31 December 2024 is \u20ac71.8 million (31 December 2023: \u20ac48.8 million), including interest. Playtech has assessed whether it holds power to control Galera and it was concluded that this is not the case. Even if the option is exercised, it would only result in a 40% voting right over the operating entity and therefore no control. Under the agreement in place: \u2022 the standard operator income to be generated from services provided to Galera when combined with the additional B2B services fee, the loan and certain other contractual rights, are all indicators of significant influence; and \u2022 the Group provides standard B2B services (similar to services provided to other B2B customers) as well as additional services to Galera that Galera requires to assist it in successfully running its operations, which could be considered essential technical information. Considering the above factors, the Group has significant influence under IAS 28, paragraph 6 over Galera. As the option is currently exercisable and gives Playtech access to the returns associated with the ownership interest, the investment is treated as an investment in associate. Playtech\u2019s interest in Galera is accounted for using the equity method in the consolidated financial statements. Galera is currently loss- making. If the call option is exercised by Playtech, the Group will no longer provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 (2023: \u20acNil). The cost of the investment was deemed to be the price paid for the option of $5.0 million (\u20ac4.2 million), which was reduced to \u20acNil through the recognition of the Group\u2019s share of losses. Investment in LSports Background In November 2022, the Group acquired 15% of Statscore for \u20ac1.8 million, making it a 100% subsidiary. Subsequently, the Group disposed of 100% of Statscore to LSports Data Ltd (\u2018\u2019LSports\u2019\u2019) for \u20ac7.5 million, less a novated inter-company loan of \u20ac1.6 million, resulting in a non-cash net consideration of \u20ac5.9 million. Additionally, the Group acquired 31% of LSports for \u20ac36.7 million, which included an option to acquire up to 18% more shares. Of the total consideration, \u20ac29.2 million was paid in cash. The Group exercised its option to acquire up to 49% (an additional 18%) of the equity of LSports in September 2024, increasing their shareholding to 49%. The Group paid LSports \u20ac18.9 million, calculated based on a valuation of LSports at \u20ac115.0 million. Upon finalisation of LSports\u2019 annual audited financial statements for the year ended 31 December 2024, an additional consideration of \u20ac6.9 million, based on EBITDA multiplied by a factor of seven, was recorded as deferred consideration and was paid in March 2025 (Note 38). Under IFRS 10, paragraph 7, the Company does not have control over the investee despite being the largest shareholder in LSports by holding 49% because the rest of the 51% shareholders form a consortium by virtue of being related (Note 6). LSports is a company whose principal activity is to empower sportsbooks and media companies with the highest quality sports data on a wide range of events, so they can build the best product possible for their business. The company is based in Israel. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports data market segment. Assessment of control and significant influence As at the date of acquisition, 31 December 2024 and 2023, it was assessed that the Group did not have control over LSports, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite the appointment and representation on the board of directors by a Playtech employee as at 31 December 2024, there is still no ability to control the relevant activities, as the total number of directors including the Playtech appointed director is five; \u2022 Playtech has neither the ability to change any members of the board nor of the management of LSports; and \u2022 as of 31 December 2024, despite Playtech\u2019s shareholding being 49%, under IFRS 10, paragraph 7, the Group does not have control over LSports because the other combined shareholding/voting power exceeds 50% and is collectively held by family members. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over LSports because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being the Playtech employee appointed on the board of LSports, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment, LSports has been recognised as an investment in associate. Purchase Price Allocation (PPA) The Group prepared an initial PPA following the acquisition of the investment in 2022, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of the LSports identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. The Group prepared an updated PPA in September 2024 upon acquiring the additional 18% stake in LSports. The difference again resulted in goodwill, included in the investment\u2019s carrying amount. Details of Playtech\u2019s share of net fair value of the identifiable assets and liabilities acquired are as follows:
Playtech\u2019s share of net fair
value of the identifiable assets
and liabilities acquired
2024
\u20ac\u2019m
Net book value of assets acquired
3.7
Fair value of customer contracts and relationships
28.4
Fair value of technology \u2013 internally developed
23.4
Fair value of brand
4.8
Deferred tax arising on acquisition
(4.3)
Total net assets
56.0
Resulting goodwill 14.0
The total share of profit recognised in profit or loss in the year ended 31 December 2024 from the investment is LSports was \u20acNil million (2023: \u20ac2.1 million).
This includes the amortisation of intangibles and the release of the deferred tax liability, arising from the original acquisition of the investment and subsequent
exercise of the option (2024: \u20ac2.9 million, 2023: \u20ac2.1 million) and the share of the LSports profits (2024: \u20ac2.9 million, 2023: \u20ac4.2 million), with a corresponding
entry against the investment in associate on the consolidated balance sheet.
During 2024, the Group received a dividend of \u20ac0.2 million from LSports (2023: \u20ac1.8 million), which reduced the investment in associate value in the
consolidated balance sheet.
Below is certain financial information of LSports:
31 December 31 December
2024
1
2023
1
\u20ac\u2019m \u20ac\u2019m
Current assets
9.5
10.9
Non-current assets
43.0
26.8
Current liabilities
(8.7)
(6.6)
Non-current liabilities
(8.3)
(2.3)
Equity
35.5
28.8
1
The 2024 and 2023 balances above have been extracted from LSport\u2019s audited consolidated financial statements.
Investment in Stats International
Background
In January 2022, the Group provided a $2.3 million loan to Stats International Limited (\u201cStats\u201d), at an interest rate of 3.5% and a repayment date of 30 June 2024.
As at 31 December 2024, the carrying value of the loan was \u20ac2.4 million and is included in loans receivable from related parties (Note 33) (2023: \u20ac2.2 million).
The Stats group\u2019s business activities are focused on securing rights in connection with sporting competitions and the exploitation of the same, typically in
exchange for the payment of certain fees and provision of analytical and statistical services by the Stats group to the relevant rightsholder. The initial focus of the
Stats group is on Brazilian sports competitions.
In May 2023, the Group and Stats signed an amended loan agreement which, amongst other things, changed the repayment obligations such that the final
repayment date will be 31 December 2026 and the loan agreement will be novated from Stats to Jewelrock (Stats\u2019 sole shareholder) in consideration of $1.
Moreover, a framework agreement was signed between Stats and Playtech whereby Playtech, for a \u20ac1 consideration, has been granted the option to acquire
from Jewelrock 36% of the issued share capital of Stats.
Finally, Playtech entered into a service agreement whereby Playtech provides Stats its business development and knowledge-sharing services in connection
with the operational and industry standard procedures of Stats in exchange for additional B2B services fee as per Note 9. As the business is still a start-up, the
additional B2B services fee as at 31 December 2024 was \u20acNil (2023: \u20acNil). Once the option is exercised, the Group would no longer provide certain services
and, as such, would no longer be entitled to the additional B2B services fee.
The option may be exercised at any time but prior to the termination of all sporting rights agreements. It shall also lapse on the expiry or termination of the
Playtech service agreement in accordance with its terms or at the written election of Playtech.
Playtech has assessed whether it holds power to control the investee and it was concluded that this is not the case. Even if the option is exercised, it would only
result in a 36% voting right over the operating entity and therefore no control.
However, Playtech has assessed whether the Group has significant influence over Stats and due to the existence of the service agreement whereby Playtech
would be assisting a start-up business by providing knowledge-sharing services, these could be considered essential technical information. Considering this, it
was concluded that the Group has significant influence under IAS 28, paragraph 6, over Stats.
The cost of the option, which was considered to be the inherent value of Playtech allowing the loan repayment date to be extended, is considered negligible. No
share of profits/losses have been recognised as at 31 December 2024 in profit or loss as these were immaterial.
Investment in NorthStar Background NorthStar Gaming Inc. is a Canadian gaming brand incorporated in Ontario in Q4 2021. In Q2 2022, NorthStar received its license from the Alcohol and Gaming Commission of Ontario (AGCO) and launched its online gaming site, www.northstarbets.ca, offering regulated sports betting markets and a curated casino experience. Playtech saw this as an opportunity to expand its presence in the growing Canadian betting market. In December 2022, the Group issued NorthStar a convertible loan of CAD 12.25 million, which could be converted into common shares, A warrants, and B warrants upon the completion of a reverse takeover (RTO) transaction. Baden Resources, listed on the TSX, agreed to acquire NorthStar through an RTO. The loan\u2019s fair value as of 31 December 2022 was \u20ac8.4 million. In March 2023, the RTO was completed, and Baden Resources was renamed NorthStar Gaming Holdings (\u201cNorthStar\u201d). This triggered the automatic conversion of the Group\u2019s loan into NorthStar common shares, which were then exchanged for NorthStar common shares. The Group also received NorthStar Warrants, exercisable at CAD 0.85 and CAD 0.90 per share, expiring on the fifth anniversary of their issue. In September 2023, the Group entered into a subscription agreement with NorthStar, acquiring additional shares and warrants (exercisable at CAD 0.36 and CAD 0.40 per share) for CAD 5.0 million. This investment closed in October 2023, and Playtech also loaned NorthStar an 8% senior convertible debenture for CAD 5.0 million. As of 31 December 2024, Playtech owns approximately 25.8% of NorthStar\u2019s issued and outstanding common shares (down from 27.5% as of 31 December 2023 following NorthStar\u2019s issue of new shares in June 2024). If the convertible debenture is converted and all warrants are exercised, Playtech could potentially increase its stake to over 40%. The Group\u2019s convertible debenture has been classified at fair value through profit or loss based on IFRS 9 criteria. As at 31 December 2024, an amount of CAD 5.5 million (\u20ac3.6 million) is included in loans receivable from related parties (31 December 2023: \u20ac3.4 million) (Note 33). The loan is required to be repaid to Playtech by October 2026 or upon conversion (to the extent not fully converted) once conversion criteria are met. In April 2024, the Group signed a promissory note with NorthStar for the amount of CAD 3.0 million (\u20ac2.1 million), which is included in current assets as loans receivable from related parties (Note 33). The principal and the outstanding interest under the promissory note are required to be paid the earliest of: i. 12 months from April 2024; ii. the date on which Playtech declares the Indebtedness to be immediately due and payable following the occurrence of an event of default (as defined in agreement between Playtech and NorthStar); iii. the date on which NorthStar or any of its subsidiaries complete an offering of debt or equity securities to one or more third parties that, when aggregated with any other financing completed, results in gross proceeds to NorthStar and its subsidiaries of at least CAD 10 million. In September 2024 and December 2024 further promissory notes to the value of CAD 3.0 million (\u20ac2.1 million) and CAD 3.5 million (\u20ac2.3 million) respectively were issued to NorthStar to assist with its growth plans while establishing more medium to long-term financing, which are included in current assets as loans receivable from related parties (Note 33). All three of these promissory notes were repaid by NorthStar in January 2025 (Note 38). The fair value of all of Playtech\u2019s warrants is \u20acNil as at 31 December 2024 (2023: \u20acNil) (refer to Note 19C). Assessment of control and significant influence As at 31 December 2024 and 2023, it was assessed that the Group did not have control over NorthStar, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite representation on the NorthStar board of directors by Playtech\u2019s CFO and one more Playtech employee at 31 December 2023 and 31 December 2024, there is still no ability to control the relevant activities, as the total number of appointed directors is eight; and \u2022 Playtech has neither the ability to change any other members of the NorthStar board nor the management of NorthStar. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024 and 2023, the Group has significant influence over NorthStar because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being that it has two appointed members sitting on the board of NorthStar, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment NorthStar has been recognised as an investment in associate. The NorthStar warrants are fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9 (refer to Note 19C). Purchase Price Allocation (PPA) The Group prepared a PPA following the acquisition of the investment, where any difference between the cost of the investment and Playtech\u2019s share of the net fair value of NorthStar\u2019s identifiable assets and liabilities results in goodwill. Goodwill is not recognised separately but is included as part of the carrying amount of the investment in associate. Up until October 2023, Playtech\u2019s shareholding was diluted to 15% due to NorthStar issuing more shares as part of an acquisition they completed in May 2023. Playtech\u2019s shareholding at 31 December 2024 was 25.8% (31 December 2023: 27.5%). Playtech\u2019s shareholding decrease from 2023 to 2024 is due to NorthStar issuing more shares to new and existing shareholders. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in NorthStar was \u20ac3.6 million (2023: \u20ac2.8 million). This includes the amortisation of intangibles, arising on acquisition, and the share of NorthStar\u2019s losses, with a corresponding entry against the investment in associate on the consolidated balance sheet. Investment in Sporting News Holdings Limited Background In August 2023, the Group acquired 12.6% of Sporting News Holdings Limited (\u201cTSN\u201d), for a total consideration of $6.3 million (\u20ac5.8 million). TSN\u2019s principal activities are the sale of digital advertising and the offering of media services, the provision of multimedia sports content across internet-enabled digital platforms and the distribution directly to customers and business clients around the world. The company is incorporated in the Isle of Man. The principal reason of the acquisition is the attractive opportunity considered by Playtech to increase its footprint in the growing sports and media market segment. Assessment of control and significant influence As at the date of acquisition and at 31 December 2024 it was assessed that the Group did not have control over TSN, because it does not meet the criteria of IFRS 10 Consolidated Financial Statements, paragraph 7 due to the following: \u2022 despite Playtech having the right to appoint a director on the TSN board, as at 31 December 2024 and 31 December 2023, one had not yet been appointed. Playtech has preferred to only appoint an observer to the board. Moreover, once Playtech appoints a director, there is still no ability to control the relevant activities, as the total number of directors including potentially one Playtech appointed director will be five; and \u2022 Playtech has neither the ability to change any members of the board nor of the management of TSN. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. As at 31 December 2024, the Group has significant influence over TSN because it meets one or more of the criteria under IAS 28, paragraph 6, the main one being Playtech having the ability to appoint a member on the board of TSN, enabling it to therefore participate in policy-making processes, including decisions about dividends and/or other distributions. As a result of this assessment TSN has been recognised as an investment in associate. The cost of the investment was deemed to be the consideration paid for the shares of $6.3 million (\u20ac5.8 million) in August 2023. The total share of loss recognised in profit or loss in the year ended 31 December 2024 from the investment in TSN was \u20ac0.2 million (2023: \u20ac0.2 million). Other investments in associates that are fair valued under IFRS9 per IAS 28, paragraph 14 The following are also investments in associates where the Group has significant influence but where the option is not currently exercisable. As there is no current access to profits, the relevant option is fair valued under IFRS 9, and disclosed as derivative financial assets under part C of this Note: \u2022 Wplay; \u2022 Tenbet (Costa Rica); \u2022 Onjoc (Panama); and \u2022 Tenlot El Salvador S.A. de C.V The financial information required for investments in associates, other than Caliplay and LSports, has not been included here as from a Group perspective the Directors do not consider them to have a material impact jointly or separately. ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-703": { "value": "B. Other investments Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Listed investments
11.1
15.8
Investment in Tenlot Guatemala
\u2014
\u2014
Investment in Tentech Costa Rica
\u2014
\u2014
Investment in Gameco
\u2014
\u2014
Investment in Hard Rock Digital
141.0
77.0
Total other investments
152.1
92.8
Statement of comprehensive income
2024 2023
\u20ac\u2019m \u20ac\u2019m
Profit and loss
Change in fair value of equity investments
51.1
(6.6)
Impairment of investment in Gameco (included in the impairment of financial assets)
\u2014
(1.3)
51 .1
(7.9)
Other comprehensive income
Foreign exchange movement from equity investments held in a non-Euro functional subsidiary
6.4
(2.6)
Listed investments The Group has shares in listed securities, which includes new shares purchased during the year for \u20ac1.8 million (2023: \u20ac14.3 million). The fair values of these equity shares are determined by reference to published price quotations in an active market. For the year ended 31 December 2024, the fair values of these listed securities have decreased by \u20ac6.5 million (2023: increased by \u20ac0.1 million). Investment in Tenlot Guatemala In 2020, the Group entered into an agreement with Tenlot Guatemala, a member of the Tenlot Group. Tenlot Guatemala, which is in the lottery business in Guatemala, commenced its activity in 2018. The Group acquired a 10% equity holding in Tenlot Guatemala for a total consideration of $5.0 million (\u20ac4.4 million) in 2020, which has been accounted at fair value through profit or loss under IFRS 9. The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNil because of changes to market conditions which led to changes in its original business plans. The fair value of the equity holding has decreased by \u20ac4.4 million to \u20acNil in the year ended 31 December 2023. In addition, the Group was granted a 10% equity holding in Super Sports S.A. at no additional cost. The Group also has an option to acquire an additional 80% equity holding in Super Sports S.A. If the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil for the year ended 31 December 2024 (2023: \u20acNil). There are no conditions attached to the exercise of the option. The right of exercising the call option at any time and the acquisition of the additional 80% in Super Sports S.A. give Playtech: \u2022 power over the investee; \u2022 exposure, or rights, to variable returns from its involvement with the investee; and \u2022 the ability to use its power over the investee to affect the amount of the investor\u2019s returns. It therefore satisfies all the criteria of control under IFRS 10, paragraph 7 and, as such, at 31 December 2024 Super Sports S.A. has been consolidated in the consolidated financial statements of the Group, noting that this is not material from a Group perspective. Investment in Tentech Costa Rica In 2020, the Group entered into an agreement in Costa Rica with the Tenlot Group. The Group acquired a 6% equity holding in Tentech CR S.A., a member of the Tenlot Group, for a total consideration of $2.5 million (\u20ac2.1 million). Tentech CR S.A. sells printed bingo cards in accordance with article 29 of the Law of Raffles and Lotteries of Costa Rica (CRC \u2013 Costa Rican Red Cross Association). The 6% equity holding in Tentech CR S.A. is accounted at fair value through profit or loss under IFRS 9. The fair value of the equity holding as at 31 December 2024 and 31 December 2023 was \u20acNi because of changes to market conditions which led to changes in its original business plans. The fair value of the equity holding has decreased by \u20ac2.3 million to \u20acNil in the year ended 31 December 2023. Investment in Gameco In 2021, the Group entered into a convertible loan agreement with GameCo LLC (\u201cGameco\u201d), where it provided $4.0 million (\u20ac3.8 million) in the form of a debt security with 8% interest. In December 2022, Gameco acquired Green Jade Games and, subsequently, the Playtech debt was converted into equity shares, representing a 7.1% interest in the newly formed group. Immediately prior to the conversion, the loan was impaired by \u20ac3.0 million, and this has been recognised in profit or loss in the prior year. The 7.1% equity holding in the newly formed group was accounted at fair value through profit or loss under IFRS 9 at 31 December 2022. As at 31 December 2024 and 2023, the fair value of the equity holding has been \u20acNil. Investment in Hard Rock Digital In March 2023, the Group invested $85.0 million (\u20ac79.8 million in March 2023, \u20ac77.0 million at 31 December 2023) in Hard Rock Digital (HRD) in exchange for a small minority interest in a combination of equity shares and warrants. HRD is the exclusive Hard Rock International vehicle for interactive gaming and sports betting on a global basis and the primary vendor to the Seminole Tribe of Florida (the \u201cSeminole Tribe\u201d) for sports betting in the State of Florida. During late 2023 and 2024 positive outcomes were received in respect of claims made in both the Federal and Supreme Courts. Following this, sports betting was re-launched in Florida by the Seminole Tribe. The Group assessed whether the warrants met the definition of a separate derivative as per IFRS 9. A financial instrument or other contract should have all three of the following characteristics: \u2022 its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable, provided, in the case of a non-financial variable, that the variable is not specific to a party to the contract (sometimes called the \u201cunderlying\u201d); \u2022 it requires no initial net investment or an initial net investment that is smaller than would be required for other types of contracts that would be expected to have a similar response to changes in market factors; and \u2022 it is settled at a future date. Management made a judgement that the warrants did not meet the definition of a separate derivative asset as: (i) the value of the warrants is part of the total investment and cannot be distinguished between the two and therefore the value of the warrants was deemed to be equal to the equity shares value; and (ii) the consideration was paid at the time of the transaction. Furthermore, the equity investment did not meet the definition of held for trading, as the investment was acquired for long-term investment purposes and with no current intention for sale. The investment was therefore classified as an investment held at fair value through profit or loss with initial and subsequent recognition at fair value, with any subsequent gain/loss recognised in profit or loss. In the year ended 31 December 2024, the Group received a dividend of \u20ac3.1 million (2023: \u20acNil) from HRD, recognised in finance income. Valuation The Group has assessed the fair value of the investment at 31 December 2024 by applying a DCF approach with a market exit multiple assumption to the two CGUs within the investment. The discount rate and exit multiples used were within the range of 19%-29% and 8.5x-10.0x respectively. Due to the small minority interest and the limited influence Playtech has over HRD, the Group included a discount for lack of control of 10%, as well as a 15%-20% discount for lack of marketability due to the shares not being publicly traded. As at 31 December 2024, the fair value of the equity investment in HRD increased to \u20ac141.0 million ($146.5 million). The difference of \u20ac64.0 million between the fair value at 31 December 2023 of \u20ac77.0 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac57.6 million derived from the fair value increase of the equity investment calculated using the DCF model in profit or loss for the period ended 31 December 2024. The increase was mainly driven by the performance of the business, positive developments in the regulatory environment which primarily aided the relaunch of the Florida sports operations by the Seminole Tribe in late 2023. b. \u20ac6.4 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the equity investment is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024. The Group will continue to monitor the development of the HRD business including the wider regulatory landscape internationally, as well as in the key operational states in the US which can impact the value of the equity investment. Sensitivity analysis The assumptions and judgements made in the valuation of the equity investment as at 31 December 2024 include the following sensitivities, noting that factors and circumstances, for example regulatory changes, that may arise that are outside the Group and HRD\u2019s control which could impact the option value positively or negatively: \u2022 A plus or minus shift of 5% to the discount rates used will result in a fair value of the equity investment within the range of \u20ac127.1 million \u2013 \u20ac159.8 million. \u2022 An increase or decrease of 2.0x on the 2029 exit multiple will result in a fair value change of the equity investment within the range of \u20ac124.7 million to \u20ac157.9 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the equity investment within the range of \u20ac105.9 million \u2013 \u20ac190.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the equity investment within the range of \u20ac130.0 million \u2013 \u20ac152.6 million. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-677": { "value": "
C. Derivative financial assets
Balance sheet
2024 2023
\u20ac\u2019m \u20ac\u2019m
Playtech M&A Call Option (Caliplay)
801.9
730.2
Wplay
84.7
88.0
Onjoc
3.4
3.1
Tenbet
0.4
1.7
Tenlot El Salvador S.A. de C.V
4.6
\u2014
NorthStar warrants (Note 19A)
\u2014
\u2014
LSports (Note19A)
\u2014
4.8
Total derivative financial assets
895.0
827.8
Statement of comprehensive income impact
2024 2023
\u20ac\u2019m \u20ac\u2019m
Caliplay
Fair value change of Playtech M&A Call Option
26.1
180.9
Foreign exchange movement to profit or loss
45.6
(16.0)
Wplay
Fair value change in Wplay
(9.0)
(2.7)
Foreign exchange movement recognised in other comprehensive income
5.7
(2.8)
Onjoc
Fair value change in Onjoc
0.1
(5.3)
Foreign exchange movement recognised in other comprehensive income
0.2
(0.2)
Tenbet
Fair value change in Tenbet
(1.3)
(6.9)
Foreign exchange movement recognised in other comprehensive income
\u2014
(0.3)
Tenlot El Salvador S.A. de C.V
Fair value change in Tenlot El Salvador S.A. de C.V
\u2014
\u2014
Foreign exchange movement recognised in other comprehensive income
0.1
\u2014
LSports
Fair value change of call option (Note 19A)
\u2014
3.4
Total comprehensive income impact
67.5
150.1
Caliplay
The Playtech M&A Call Option is not currently exercisable and therefore in accordance with IAS 28, paragraph 14 has been recognised as a derivative financial
asset and fair valued under IFRS 9.
As further disclosed in Note 19A, in September 2024 Playtech has signed a revised strategic agreement in relation to Caliplay in which the Playtech M&A Call
Option currently held by Playtech would be amended so that on exercise Playtech will receive a 30.8% equity interest in Caliente Interactive Inc, Caliplay\u2019s newly
incorporated US holding company. Exercise of the amended Playtech M&A Call Option will occur in connection with closing of the revised arrangements,
with the 30.8% shareholding (the \u201cEquity Right\u201d), being achieved after taking account of the rights of its service providers. The completion of these revised
arrangements, which were announced in September 2024, was conditional upon Mexican antitrust approval, which was received in March 2025, with closing
now scheduled for 31 March 2025. Furthermore, there is currently an agreed standstill of all current legal proceedings between Caliente, Caliplay and Playtech,
and those proceedings will be dismissed in full once the revised arrangements come into effect. Under the Equity Right scenario, Playtech will:
\u2022 no longer be entitled to the additional B2B services fee;
\u2022 have certain customary shareholder rights, including the right to appoint a Director to the Board of Cali Interactive for so long as Playtech\u2019s equity interest is
at least 15% of Cali Interactive; and
\u2022 subject to available cash and applicable law, Playtech and all other Cali Interactive stockholders will receive dividends, at least quarterly, pursuant to an
agreed dividend policy.
Whilst the resultant 30.8% shareholding on closing of the revised arrangements is less than the 49% interest (before taking account of the rights of the Playtech Group\u2019s service providers) which the Playtech Group would have held in Caliplay were it to have exercised the existing Playtech M&A Call Option, the Playtech Group was willing to accept this reduced interest in the context of the terms of these revised arrangements taken as a whole which include: (i) the resultant settlement and dismissal of all legal proceedings between Caliente, Caliplay and Playtech; (ii) the receipt (and/or payment into escrow) of the entirety of the outstanding fees owing to the Playtech Group; (iii) Playtech holding shares in a newly incorporated US holding company of Caliplay; and (iv) the Caliente Call Option and the COC Option (and the Playtech Call Option) ceasing to exist with the Playtech M&A Call Option having been exercised. At 31 December 2024, a key judgement was made that the Group is certain that the revised arrangements with Caliplay would complete in H1 2025, and as such only valued Playtech\u2019s 30.8% Equity Right. As at 31 December 2023, the Group valued the existing Playtech M&A Option using a DCF approach with a market exit multiple assumption. The Group also made assumptions on the probability of a possible transaction that may be completed on a number of exit date scenarios over a five-year period, until December 2028. Management did not model a scenario of no exit as this was considered highly remote. Finally, taking account of matters arising in the period, Playtech included some probability weighted scenarios to consider the impact of the COC Option as explained in part A of this Note, noting that the probabilities assigned to this scenario were above zero but low. Valuation The Group has assessed the fair value of the Equity Right as at 31 December 2024 using the income approach, which estimates the value of the Equity Right based on the value of the expected future cash flows generated by Caliplay. The Group\u2019s view of a reasonable market participant base discount rate for the 31 December 2024 valuation is 1% higher than last year. However, as Playtech was certain at 31 December 2024 that the revised arrangements will complete in 2025 and that therefore the legal proceedings will subsequently be dismissed, the Group removed the additional company-specific premium (of 5%) from the discount rate used in the valuation as at 31 December 2023. The discount rate used for the valuation of the Equity Right was 16% as at 31 December 2024 (2023: 20%). The Group used a compound annual growth rate of 23.7% (2023: 17.0%) on revenue over the forecasted cash flow period, an average Adjusted EBITDA margin of 23.5% (2023: 31.3%) and an exit multiple of 8.75x (2023: 7.7x). The change in Adjusted EBITDA margin is due to changes in marketing strategies that impacted 2024 actuals and going forward into 2025 and beyond. The increase in the exit EBITDA multiple is supported by the observed median EV/EBITDA multiple of the publicly listed peers as at 31 December 2024 and share price increases. Given the fact that under the revised arrangements related to Caliplay, the Equity right will be 30.8%, the Group applied a 5% discount for lack of control (DLOC) on the value of Playtech\u2019s indirect stake in Caliplay, reflecting the fact that Playtech will not have control of Caliplay but it will continue to have significant influence (Note 19A) with the ability to appoint a director on the board and voting rights in proportion to its shareholding. The Group also included an additional discount for lack of marketability (DLOM) of 15% for the non-marketable equity right (2023: 10.0%). Furthermore, as part of the restructured arrangements, Playtech\u2019s stake in Caliplay was adjusted to reflect the rights to Caliplay shares that a service provider is entitled (currently also entitled to part of the value of the Playtech M&A Call Option). As at 31 December 2024, the fair value of the Playtech M&A Call Option was $833.0 million (2023: $805.8 million) which converted to \u20ac801.9 million (2023: \u20ac730.2 million). The year-on-year change in the fair value of the Playtech M&A call option is a combination of an uplift from: \u2022 the decrease in the discount rate to remove the 5% litigation risk included in the discount rate as at 31 December 2023; \u2022 the increase in the exit multiple as explained above; \u2022 favourable movement in the USD to EUR foreign exchange rate; \u2022 the roll forward of the valuation due to passage of time. These were partially offset by: \u2022 the change in methodology. In December 2023, the valuation was based on an entitlement to 49% (pre share of service provider) of the equity value on exercise of a call option (considering the impact of both the Playtech M&A Call Option and the COC Option). Based on the revised arrangements signed in September 2024, the equity stake to be held in Caliente Interactive Inc. (Caliplay\u2019s newly incorporated US holding company) has decreased to 30.8% (post share of service provider). Sensitivity analysis The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value: \u2022 A different discount rate within the range of 11% to 21% will result in a fair value of the derivative financial asset in the range of \u20ac725.8 million \u2013 \u20ac889.5 million. \u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac763.4 million \u2013 \u20ac840.4 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac724.9 million \u2013 \u20ac878.9 million. \u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac715.2 million \u2013 \u20ac895.3 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac635.3 million \u2013 \u20ac997.3 million. \u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac724.9 million \u2013 \u20ac878.9 million. \u2022 If the incremental DLOM fluctuates by 5% (to 10% and 20% instead of 15%) will result in a fair value of the derivative financial asset within the range of \u20ac754.7 million \u2013 \u20ac849.1 million. \u2022 If the incremental DLOC fluctuates by 5% (to 0% and 10% instead of 5%) will result in a fair value of the derivative financial asset within the range of \u20ac759.5 million \u2013 \u20ac844.2 million. Wplay In August 2019, Playtech entered into a structured agreement with Aquila Global Group SAS (\u201cWplay\u201d), which has a licence to operate online gaming products and services in Colombia. Under the agreement, the Group provides Wplay its technology products, where it receives standard operator revenue and additional B2B services fee as per Note 9. The Group has no shareholding in Wplay. Playtech has a call option to acquire a 50% equity holding in the Wplay business. As at 31 December 2024, the option exercise date was in February 2025 or earlier if an M&A event takes place, however management was in active discussions with Wplay to further extend the option exercise date pre-year end. The extension was signed in February 2025, and the option exercise date was deferred to February 2026. For the call option valuation as at 31 December 2024, Playtech assumed that the call option cannot be exercised any date before February 2026. If the call option is exercised by Playtech, the Group would no longer provide certain services and as such will no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20ac10.6 million for the year ended 31 December 2024 (2023: \u20ac1.2 million). Assessment of control and significant influence The Group assessed whether it holds power over the investee (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech does not have the ability to direct Wplay\u2019s activities as it has no voting representation on the executive committee or members of the executive committee. \u2022 Whilst they are not members on the executive committee, Playtech has the ability to appoint and change both the COO and CMO who form part of the management team (albeit this right has never been exercised). The COO and the CMO are part of the wider management team but would not be able to control the relevant activities of Wplay. \u2022 If the option is exercised it would result in Playtech acquiring 50% of the voting rights of the operating entity and therefore would not result in having control. Furthermore, as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment Playtech does not hold power over the investee and as such does not have control. With regard to the assessment of significant influence, the following facts were considered: \u2022 Playtech has the right to appoint and remove the COO and CMO, which is a potential indicator of significant influence given their relative positions and involvement in the day-to-day operations of Wplay. \u2022 The standard operator revenue is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence. \u2022 The Group provides additional services to Wplay which Wplay requires to assist it in successfully running its operations, which could be considered essential technical information. The Group therefore has significant influence under IAS 28, paragraph 6 over Wplay. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. The Group has given two loans to Wplay, with an outstanding balance at 31 December 2023 of \u20ac1.3 million, included in loans receivable from related parties (Note 33). The loans were repaid in 2024. Valuation The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount rate of 22% (2023: 22%), as well as a discount for illiquidity and control until the expected Playtech exit date of February 2026 (used as an accounting assumption solely for the purposes of valuing the Wplay option) (2023: expected exit date of February 2025). The Group used a compound annual growth rate of 7.1% (2023: 8.2%) over the forecasted cash flow period, an average Adjusted EBITDA margin of 23.9% (2023: 28.5%) and an exit multiple of 10.4x (2023: 10.2x). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point, therefore no further discounts were applied post transaction. Furthermore, Playtech\u2019s share in Wplay was adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group. As at 31 December 2024, the fair value of the Wplay derivative financial asset is \u20ac84.7 million. The difference of \u20ac3.3 million between the fair value at 31 December 2023 of \u20ac88.0 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac9.0 million derived from the fair value decrease of the derivative call option calculated using the DCF model in profit or loss for the year ended 31 December 2024. The decrease was due to downgrading of forecasts because of the depreciation of USD against COP by 14% from 31 December 2023 to 31 December 2024 and offset by the increase in the exit multiple. b. \u20ac5.7 million derived from the fair value increase due to the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income for the year ended 31 December 2024. In February 2025, the Colombian government implemented a temporary 19% VAT on online gambling deposits starting on 22 February 2025. The temporary tax will be in place for 90 days, with the option of two extensions, each also 90 days long. The tax reform bill, including the 19% VAT, was still under discussion and had not been approved by Congress as at 31 December 2024. Playtech, through advice also concluded that it would be unlikely that the bill around the 19% VAT would be passed, especially since it has been on the agenda for several years. As such it was not considered for purposes of valuing the Wplay option at 31 December 2024, and will be assessed as part of the valuation at 30 June 2025, noting that it could have a material impact on the value disclosed at 31 December 2024. Sensitivity analysis The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value: \u2022 A different discount rate within the range of 17% to 27% will result in a fair value of the derivative financial asset in the range of \u20ac72.6 million \u2013 \u20ac99.8 million. \u2022 If the expected Playtech exit date is extended by one year, the fair value of the derivative financial asset will decrease to \u20ac75.8 million. \u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac80.8 million \u2013 \u20ac88.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac77.0 million \u2013 \u20ac92.4 million. \u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac80.1 million \u2013 \u20ac89.3 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac75.6 million \u2013 \u20ac94.0 million. \u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac78.8 million \u2013 \u20ac90.6 million. Onjoc In June 2020, Playtech entered into a framework agreement with ONJOC CORP. (\u201cOnjoc\u201d), which holds a licence to operate online sports betting, gaming and gambling activities in Panama. The Group has no equity holding in Onjoc but has an option to acquire 50%. Under the agreement the Group provides Onjoc its technology products, where it receives standard operator revenue and additional B2B services fee as per Note 9. If the option is exercised, the Group would no longer provide certain services and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 and 2023. The option can be exercised any time subject to Onjoc having $15.0 million of Gross Gaming Revenue (GGR) over a consecutive 12-month period. Assessment of control and significant influence The Group performed an analysis for Onjoc to assess whether it holds power over Onjoc (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech can propose an independent member to the board of directors, who has to be independent to both Playtech and Onjoc, and as such does not have the ability to direct Onjoc\u2019s activities as it has no voting representation on the board; \u2022 Playtech has the right to propose the COO, CTO and CMO, which although would form part of the wider management team, would not be able to control the relevant activities of Onjoc by themselves; and \u2022 if the option is exercised it would result in Playtech acquiring 50% of the voting rights of the operating entity and therefore would not result in having control. Furthermore, as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment Playtech does not hold power over the investee and as such does not have control. Regarding the assessment of significant influence, the following facts were considered: \u2022 Playtech can propose an independent member to the board of directors and has the right to propose the COO, CTO and CMO, which are potential indicators of significant influence given their relative positions and the involvement in day-to-day operations of Onjoc; \u2022 the standard operator revenue is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence; and \u2022 the Group provides additional services to Onjoc which Onjoc requires to assist it in successfully running its operations which could be considered essential technical information. The Group therefore has significant influence under IAS 28, paragraph 6 over Onjoc. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. The Group has given an interest-bearing loan to Onjoc of \u20ac3.3 million (2023: \u20ac2.3 million) which is due for repayment in December 2027 and is included in loans receivable from related parties (refer to Note 33). Valuation The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount rate of 34% (2023: 32%) reflecting the cash flow risk given the high growth rates in place and the early stages of the business, as well as a discount for illiquidity and control until the expected Playtech exit date of December 2028 (2023: expected exit date of December 2027). The Group used a compound annual growth rate of 29.0% (2023: 49.2%) over the forecasted cash flow period and an average Adjusted EBITDA margin of 21.3% (2023: 24.2%). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point, therefore no further discounts applied post transaction. Furthermore, Playtech\u2019s share in Onjoc was adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group. As at 31 December 2024, the fair value of the Onjoc derivative financial asset is \u20ac3.4 million. The difference of \u20ac0.3 million between the fair value at 31 December 2023 of \u20ac3.1 million and the fair value at 31 December 2024 has been recognised as follows: a. \u20ac0.1 million derived from the fair value increase of the derivative call option calculated using the DCF model in profit or loss in the year ended 31 December 2024. This increase is mostly due to the assumed exercise date getting closer in 31 December 2024 than 31 December 2023 and the further 12 months roll forward of the valuation period. b. \u20ac0.2 million derived from the fair value increase from the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income in the year ended 31 December 2024. Sensitivity analysis The assumptions and judgements made in the valuation of the derivative financial asset as at 31 December 2024 include the following sensitivities, noting that factors and circumstances may arise that are outside the Group\u2019s control which could impact the option value: \u2022 A different discount rate within the range of 29% to 39% will result in a fair value of the derivative financial asset in the range of \u20ac2.9 million \u2013 \u20ac4.0 million. \u2022 A 5% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac3.2 million \u2013 \u20ac3.6 million. \u2022 A 10% fluctuation in the Adjusted EBITDA margin will result in a fair value of the derivative financial asset within the range of \u20ac3.0 million \u2013 \u20ac3.8 million. \u2022 A 5% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac2.7 million \u2013 \u20ac4.1 million. \u2022 A 10% fluctuation in the revenue growth rate will result in a fair value of the derivative financial asset within the range of \u20ac2.1 million \u2013 \u20ac4.8 million. \u2022 A 1.0 fluctuation on the market exit multiple will result in a fair value of the derivative financial asset within the range of \u20ac2.8 million \u2013 \u20ac3.9 million. Tenbet Costa Rica In addition to the 6% equity holding in Tentech CR S.A as per section B of this Note, the Group has an option to acquire 81% equity holding in Tenbet. Tenbet, which is another member of the Tenlot Group, operates online bingo games and casino side games. Playtech provides certain services to Tenbet in return for its additional B2B services fee. The Group has no equity holding in Tenbet but has an option to acquire 81% equity. If the option is exercised, the Group would no longer provide certain services to Tenbet and, as such, would no longer be entitled to the additional B2B services fee. The additional B2B services fee was \u20acNil in the year ended 31 December 2024 and 31 December 2023. In H1 2023, the Group signed an amendment to the Tenbet agreement in which the option can be exercised at any time from July 2024 (previously 35 months of Tenbet going live). In H2 2023, the Group signed an amendment to the Tenbet agreement in which the option can be exercised at any time from 1 January 2025 based on the condition that Tenbet has generated at least once, prior to the exercise, accumulative GGR (as defined in the agreement) of at least $10.0 million, in a consecutive 12-month period. Based on the business plan used for the DCF valuation, the accumulative GGR is not expected to be met before 31 December 2027. The Group has given an interest-bearing loan to Tenbet of \u20ac6.0 million (2023: \u20ac4.2 million) which is due for repayment in December 2029 and is included in loans receivable from related parties (refer to Note 33). Assessment of control and significant influence The Group assessed whether it holds power over Tenbet (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech does not have the ability to direct Tenbet\u2019s activities as it has no voting representation on the board of directors (or equivalent) or people in managerial positions; \u2022 Playtech has neither the ability to appoint, nor change, any members of the board of Tenbet; and \u2022 as at 31 December 2024 and 31 December 2023, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. With regard to the assessment of significant influence, the standard operator revenue alone is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence. Furthermore, the Group provides additional services to Tenbet which Tenbet requires to assist it in successfully running its operations that could be considered essential technical information. Playtech therefore has significant influence under IAS 28, paragraph 6 over Tenbet. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. Valuation The fair value of the option at 31 December 2024 has been estimated using a DCF approach with a market exit multiple assumption. The Group used a discount rate of 34% (2023: 33%) reflecting the cash flow risk given the high growth rates in place and the early stages of the business, as well as a discount for illiquidity and control until the expected Playtech exit date of December 2028 (2023: expected exit date of December 2028). The Group used a compound annual growth rate of 91.4% (2023: 96.2%) over the forecasted cash flow period and an average Adjusted EBITDA margin of 1.1% (2023: average of 0.9%). As part of the agreement, there is a lock-in mechanism that contractually might prevent Playtech from selling the resulting shares, however an assumption was made that if the exit date assumed in the model is earlier, then both parties would be in agreement to this earlier exit point. Furthermore, Playtech\u2019s share in Tenbet was adjusted to reflect the rights to shares that a service provider has under its services agreement with the Group. As at 31 December 2024, the fair value of the Tenbet derivative financial asset is \u20ac0.4 million, with the \u20ac1.3 million decrease from the fair value of \u20ac1.7 million at 31 December 2023 recognised in profit or loss for the year ended 31 December 2024, primarily due to downgraded cash flow forecasts based on Tenbet\u2019s current performance, calculated using the DCF. Tenlot El Salvador S.A. de C.V During 2024, the Group entered into a new structured agreement with Tenlot El Salvador S.A. de C.V. (Tenlot El Salvador), which has a license to operate online betting and gaming on behalf the national lottery of El Salvador. Under the agreement the Group will provide Tenlot El Salvador its technological platform, as well as operational and other related services, where it will receive in return standard operator revenue and additional B2B services fee as per Note 9. The additional B2B services fee was \u20acNil in the year ended 31 December 2024.The Group has no shareholding in Tenlot El Salvador. Under the structured agreement, Playtech has paid Tenlot El Salvador an amount of $3.3 million with an additional $1.3 million to be paid in instalments upon certain conditions being met, in exchange for an option to acquire 70% of the shares in Tenlot El Salvador. The option can be exercisable at any time after 18 months from February 2024 subject to Tenlot El Salvador generating at least once prior to the exercise, a cumulative gross gaming revenue of at least $10.0 million in any consecutive period of 12 months. Playtech also made available to Tenlot El Salvador a $5.5 million line of credit out. As at 31 December 2024, an amount of $0.5 million was withdrawn. The carrying amount of the loan is \u20ac0.5 million as of 31 December 2024 and is included in loans receivable from related parties (refer to Note 33). Assessment of control and significant influence The Group assessed whether it holds power over Tenlot El Salvador (in accordance with IFRS 10, paragraph 7) with the following considerations: \u2022 Playtech does not have the ability to direct Tenlot El Salvador\u2019s activities as it has no voting representation on the board of directors (or equivalent) or people in managerial positions; \u2022 Playtech has neither the ability to appoint, nor change, any members of the board of Tenlot El Salvador; and \u2022 as at 31 December 2024, the option is not exercisable and therefore can be disregarded in the assessment of power. Per the above assessment, Playtech does not hold power over the investee and as such does not have control. Regarding the assessment of significant influence, the standard operator revenue alone is not considered to give rise to significant influence. However, when combined with the additional B2B services fee, this is an indicator of significant influence. Furthermore, the Group will provide additional services to Tenlot El Salvador which Tenlot El Salvador requires to assist it in successfully running its operations that could be considered essential technical information. Playtech therefore has significant influence under IAS 28, paragraph 6 over Tenlot El Salvador. However, as the option is not currently exercisable, the Group has an investment in associate but with no access to profits. As such, the option is fair valued as per paragraph 14 of IAS 28 and shown as a derivative financial asset in accordance with IFRS 9. Valuation As at 31 December 2024, the fair value of the Tenlot El Salvador derivative financial asset is \u20ac4.6 million. Since the date the derivative was acquired until 31 December 2024, there have been no changes in the operations of Tenlot El Salvador that would indicate that the fair value of the derivative financial asset would be different to the original arm\u2019s length price payable of $4.8 million (\u20ac4.5 million). The difference of \u20ac0.1 million between the fair value at acquisition and the fair value at 31 December 2024 is derived from the fair value increase from the exchange rate fluctuation of USD to EUR (as the derivative call option is under a foreign subsidiary of the Group whose functional currency is USD) in other comprehensive income in the year ended 31 December 2024. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-636": { "value": "
Note 20 \u2013 Other non-current assets
2024 2023
\u20ac\u2019m \u20ac\u2019m
Security deposits
2.5
4.3
Guarantee for gaming licences
2.1
2.2
Prepaid costs relating to Sun Bingo contract
56.2
58.7
Loans receivable (net of ECL)
3.4
3.1
Loans receivable from related parties (net of ECL) (Note 33)
82.5
58.5
Other receivables
0.3
10.2
147.0
137.0
The movement of loans and interest receivable is as follows:
\u20ac\u2019m
Balance as at 1 January 2024
63.3
Net loans granted/repaid
25.3
Non-cash loans granted (transfer from trade receivables)
1.0
Interest charge for the year
3.3
ECL
(2.6)
Foreign exchange movements
2.9
Balance as at 31 December 2024
93.2
Split to:
Non-current assets
85.9
Current assets (Note 22)
7.3
93.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-704": { "value": "Note 20 \u2013 Other non-current assets
2024 2023
\u20ac\u2019m \u20ac\u2019m
Security deposits
2.5
4.3
Guarantee for gaming licences
2.1
2.2
Prepaid costs relating to Sun Bingo contract
56.2
58.7
Loans receivable (net of ECL)
3.4
3.1
Loans receivable from related parties (net of ECL) (Note 33)
82.5
58.5
Other receivables
0.3
10.2
147.0
137.0
The movement of loans and interest receivable is as follows:
\u20ac\u2019m
Balance as at 1 January 2024
63.3
Net loans granted/repaid
25.3
Non-cash loans granted (transfer from trade receivables)
1.0
Interest charge for the year
3.3
ECL
(2.6)
Foreign exchange movements
2.9
Balance as at 31 December 2024
93.2
Split to:
Non-current assets
85.9
Current assets (Note 22)
7.3
93.2
Note 22 \u2013 Other receivables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Prepaid expenses
21.4
23.3
VAT and other taxes
14.2
14.8
Security deposits for regulators
\u2014
24.4
Prepaid costs relating to Sun Bingo contract
4.5
4.4
Receivable for legal proceedings and disputes
1
\u2014
16.4
Loans receivable (net of ECL)
0.9
0.5
Loans receivable from related parties (net of ECL) (Note 33)
6.4
1.2
Other receivables from related parties (Note 33)
0.3
0.3
Other receivables
4.8
15.2
Caliplay \u2013 funds held in escrow (Note 6)
33.3
\u2014
85.8
100.5
1 Receivable for legal proceedings and disputes relates to funds held in escrow, in relation to a historical and ongoing legal matter. The corresponding liability is included under gaming and other taxes. The funds will be released when the case is finally settled, in accordance with the escrow agreement. At 31 December 2024 this was included in assets held for sale. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-637": { "value": "
Note 21 \u2013 Trade receivables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Trade receivables
85.4
109.9
Related parties (Note 33)
56.2
9 9.1
Trade receivables \u2013 net
141.6
209.0
Split to:
Non-current assets
\u2014
1.9
Current assets
141.6
207.1
141.6
209.0
Note 22 \u2013 Other receivables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Prepaid expenses
21.4
23.3
VAT and other taxes
14.2
14.8
Security deposits for regulators
\u2014
24.4
Prepaid costs relating to Sun Bingo contract
4.5
4.4
Receivable for legal proceedings and disputes
1
\u2014
16.4
Loans receivable (net of ECL)
0.9
0.5
Loans receivable from related parties (net of ECL) (Note 33)
6.4
1.2
Other receivables from related parties (Note 33)
0.3
0.3
Other receivables
4.8
15.2
Caliplay \u2013 funds held in escrow (Note 6)
33.3
\u2014
85.8
100.5
1 Receivable for legal proceedings and disputes relates to funds held in escrow, in relation to a historical and ongoing legal matter. The corresponding liability is included under gaming and other taxes. The funds will be released when the case is finally settled, in accordance with the escrow agreement. At 31 December 2024 this was included in assets held for sale.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-678": { "value": "
Note 22 \u2013 Other receivables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Prepaid expenses
21.4
23.3
VAT and other taxes
14.2
14.8
Security deposits for regulators
\u2014
24.4
Prepaid costs relating to Sun Bingo contract
4.5
4.4
Receivable for legal proceedings and disputes
1
\u2014
16.4
Loans receivable (net of ECL)
0.9
0.5
Loans receivable from related parties (net of ECL) (Note 33)
6.4
1.2
Other receivables from related parties (Note 33)
0.3
0.3
Other receivables
4.8
15.2
Caliplay \u2013 funds held in escrow (Note 6)
33.3
\u2014
85.8
100.5
1
Receivable for legal proceedings and disputes relates to funds held in escrow, in relation to a historical and ongoing legal matter. The corresponding liability is included under gaming and other
taxes. The funds will be released when the case is finally settled, in accordance with the escrow agreement. At 31 December 2024 this was included in assets held for sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-638": { "value": "Note 23 \u2013 Cash and cash equivalents Cash and cash equivalents for the purposes of the statement of cash flows comprises:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Continuing operations
Cash at bank
268.5
516.6
Treated as held for sale
Cash at bank
185.9
\u2014
Cash and cash equivalents in the statement of cash flows
454.4
516.6
Less: expected credit loss (Note 35A)
(0.4)
(0.4)
454.0
516.2
Out of the total cash at bank (from continuing operations and treated as held for sale), an amount of \u20ac6.2 million was held by payment processors as at 31 December 2024 (2023: \u20ac9.4 million). Of this, \u20ac4.8 million relates to cash included in held for sale. The total cash held on behalf of operators comprises of the following balances:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Continuing operations
Funds attributed to jackpots
76.7
81.1
Security deposits
23.1
29.9
Players\u2019 balances
1
2.5
41.9
102.3
152.9
Treated as held for sale
Funds attributed to jackpots
5.9
\u2014
Security deposits
7.2
\u2014
Players\u2019 balances
1
33.7
\u2014
46.8
\u2014
1 The player balances are held in segregated bank accounts in line with licensing requirements.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-639": { "value": "
Note 24 \u2013 Assets held for sale
2024 2023
\u20ac\u2019m \u20ac\u2019m
Assets
A. Property, plant and equipment
\u2014
19.3
B. Snaitech B2C CGU
1,058.6
\u2014
C. HAPPYBET CGU
2.8
\u2014
D. Poker Strategy
5.0
\u2014
1,066.4
19.3
A. During 2021, the Group entered into a binding agreement for the disposal of a real estate area in Milan for a total consideration of \u20ac20.0 million. Accordingly,
the real estate was classified as held for sale. Of the total consideration, \u20ac1.0 million was received during the year ended 31 December 2021. The advance
received was classified as part of the liabilities directly associated with assets classified as held for sale. The sale has been finalised but the disposal is
expected to complete in H1 2025 with the movement of the trot track from La Maura area to San Siro (previously it was expected that the sale would be
completed during 2024). The balance at 31 December 2024 is now included in the Snaitech B2C CGU as part of the overall asset held for sale group.
B. On 17 September 2024, the Group entered into an agreement for the disposal of the Snaitech B2C segment for a cash consideration of \u20ac2,300 million.
Completion of the sale, which is subject to certain conditions including relevant antitrust, gaming and other regulatory authority approvals, is currently
expected by Q2 2025.
In this respect, the results of this CGU are presented as discontinued operations in the consolidated statement of profit or loss and the comparatives have
been restated to show the discontinued operation separately from the continuing operations.
The total major class of assets and liabilities of Snaitech B2C CGU classified as held for sale as at 31 December 2024, are as follows:
\u20ac\u2019m
Assets
Property, plant and equipment
288.8
Right of use assets
32.4
Intangible assets
409.8
Investment in associates
1.6
Trade receivables
81.1
Inventory
0.6
Other receivables
63.2
Cash and cash equivalents
181.1
Assets classified as held for sale
1,058.6
Liabilities
Deferred tax liability
143.6
Trade payables
25.8
Progressive operators\u2019 jackpots and security deposits
12.9
Client funds
33.2
Income tax payable
43.3
Gaming and other taxes payable
106.0
Lease liability
34.5
Deferred revenues
0.9
Contingent consideration
2.0
Provisions for risks and charges
8.2
Other payables
91.5
Liabilities directly associated with the asset classified as held for sale 501.9
C. The total major class of assets and liabilities of HAPPYBET CGU classified as held for sale as at 31 December 2024, are as follows:
\u20ac\u2019m
Assets
Trade receivables and other receivables
2.3
Cash and cash equivalents
4.8
Provision against assets held for sale
(4.3)
Assets classified as held for sale
2.8
Liabilities
Trade payables
0.4
Progressive operators\u2019 jackpots and security deposits
0.2
Client funds
0.5
Gaming and other taxes payable
0.3
Lease liability
0.2
Provisions for risks and charges
0.5
Other payables
0.7
Liabilities directly associated with the asset classified as held for sale 2.8
D. By the end of the year, the Group was in discussion for the sale of the business and assets comprising PokerStrategy.com. The negotiations as at
31 December 2024 were at an advance stage and close to the finalisation of the agreement and at that point, it was expected to complete beginning of
2025. In this respect, the assets and liabilities of PokerStrategy.com were classified as held for sale.
Based on the agreement, the consideration for the transfer of the business and assets is $6.1 million (\u20ac5.9 million), out of which $0.5 million (\u20ac0.5 million)
was received before the end of the year by a way of a non-refundable deposit which was classified as part of the liabilities directly associated with assets
shown as held for sale. The agreement was finalised in January 2025, with an estimated profit on disposal of \u20ac0.9 million, which will be recognised in the year
ending 31 December 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-640": { "value": "
Note 25 \u2013 Shareholders\u2019 equity
A. Share capital
Share capital is comprised of no par value shares as follows:
2024 2023
Number Number
of shares of shares
Authorised
1
N/A
N/A
Issued and paid up
309,294,243
309,294,243
1
The Company has no authorised share capital, but the Directors are authorised to issue up to 1,000,000,000 shares of no par value.
The table below shows the movement of the shares:
Shares in issue/
circulation
Number of Shares held by
shares
Treasury shares
EBT
Tot al
At 1 January 2023
300,988,316
2,937,550
5,368,377
309,294,243
Transfer from treasury shares to EBT
\u2014
(2,937,550)
2,937,550
\u2014
Exercise of options
3,704,491
\u2014
(3,704,491)
\u2014
At 31 December 2023/1 January 2024
304,692,807
\u2014
4,601,436
309,294,243
Exercise of options
2,531,953
\u2014
(2,531,953)
\u2014
At 31 December 2024
307,224,760
\u2014
2,069,483
309,294,243
B. Employee Benefit Trust
In 2014, the Group established an Employee Benefit Trust by acquiring 5,517,241 shares for a total of \u20ac48.5 million.
In 2021, the Company transferred 7,028,339 shares held by the Company in treasury to the Employee Benefit Trust for a total of \u20ac22.6 million.
In 2023, the Company transferred 2,937,550 shares held by the Company in treasury to the Employee Benefit Trust for a total of \u20ac12.5 million.
During the year ended 31 December 2024, 2,531,953 shares (2023: 3,704,491) were issued at a cost of \u20ac9.1 million (2023: \u20ac11.9 million). As at 31 December 2024,
a balance of 2,069,483 shares (2023: 4,601,436 shares) remains in the EBT with a cost of \u20ac8.7 million (2023: \u20ac17.8 million).
C. Share options exercised
During the year 2,685,843 (2023: 3,880,633) share options were exercised, of which 153,890 were cash settled (2023: 176,142).
D. Distribution of dividends
During 2024 the Group did not pay any dividends.
E. Reserves
The following describes the nature and purpose of each reserve within owners\u2019 equity:
Reserve
Description and purpose
Additional paid-in capital
Share premium (i.e. amount subscribed for share capital in excess of nominal value)
Employee Benefit Trust
Cost of own shares held in treasury by the trust
Foreign exchange reserve
Gains/losses arising on retranslating the net assets of overseas operations
Employee termination indemnities
Gains/losses arising from the actuarial remeasurement of the employee termination indemnities
Non-controlling interest
The portion of equity ownership in a subsidiary not attributable to the owners of the Company
Retained earnings
Cumulative net gains and losses recognised in the consolidated statement of comprehensive income
F. Non-controlling interest
During the year the Group acquired 48.32% of the shares in Mix Zone Ltd (\u201cMixZone\u201d), however the Group assessed that it has control over MixZone in
accordance with IFRS10 Consolidated Financial Statements and therefore MixZone has been consolidated in the results of the Group for the year ended
31 December 2024. In this respect, a non-controlling interest is recognised from the date of the acquisition.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-679": { "value": "A. Share capital Share capital is comprised of no par value shares as follows:
2024 2023
Number Number
of shares of shares
Authorised
1
N/A
N/A
Issued and paid up
309,294,243
309,294,243
1 The Company has no authorised share capital, but the Directors are authorised to issue up to 1,000,000,000 shares of no par value. The table below shows the movement of the shares:
Shares in issue/
circulation
Number of Shares held by
shares
Treasury shares
EBT
Tot al
At 1 January 2023
300,988,316
2,937,550
5,368,377
309,294,243
Transfer from treasury shares to EBT
\u2014
(2,937,550)
2,937,550
\u2014
Exercise of options
3,704,491
\u2014
(3,704,491)
\u2014
At 31 December 2023/1 January 2024
304,692,807
\u2014
4,601,436
309,294,243
Exercise of options
2,531,953
\u2014
(2,531,953)
\u2014
At 31 December 2024
307,224,760
\u2014
2,069,483
309,294,243
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-680": { "value": "B. Employee Benefit Trust In 2014, the Group established an Employee Benefit Trust by acquiring 5,517,241 shares for a total of \u20ac48.5 million. In 2021, the Company transferred 7,028,339 shares held by the Company in treasury to the Employee Benefit Trust for a total of \u20ac22.6 million. In 2023, the Company transferred 2,937,550 shares held by the Company in treasury to the Employee Benefit Trust for a total of \u20ac12.5 million. During the year ended 31 December 2024, 2,531,953 shares (2023: 3,704,491) were issued at a cost of \u20ac9.1 million (2023: \u20ac11.9 million). As at 31 December 2024, a balance of 2,069,483 shares (2023: 4,601,436 shares) remains in the EBT with a cost of \u20ac8.7 million (2023: \u20ac17.8 million). ", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-681": { "value": "D. Distribution of dividends During 2024 the Group did not pay any dividends. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-682": { "value": "E. Reserves The following describes the nature and purpose of each reserve within owners\u2019 equity:
Reserve
Description and purpose
Additional paid-in capital
Share premium (i.e. amount subscribed for share capital in excess of nominal value)
Employee Benefit Trust
Cost of own shares held in treasury by the trust
Foreign exchange reserve
Gains/losses arising on retranslating the net assets of overseas operations
Employee termination indemnities
Gains/losses arising from the actuarial remeasurement of the employee termination indemnities
Non-controlling interest
The portion of equity ownership in a subsidiary not attributable to the owners of the Company
Retained earnings
Cumulative net gains and losses recognised in the consolidated statement of comprehensive income
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-683": { "value": "F. Non-controlling interest During the year the Group acquired 48.32% of the shares in Mix Zone Ltd (\u201cMixZone\u201d), however the Group assessed that it has control over MixZone in accordance with IFRS10 Consolidated Financial Statements and therefore MixZone has been consolidated in the results of the Group for the year ended 31 December 2024. In this respect, a non-controlling interest is recognised from the date of the acquisition. ", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-684": { "value": "
Note 26 \u2013 Loans and borrowings
The main credit facility of the Group is a revolving credit facility (RCF) up to \u20ac277.0 million and is available until October 2025, with an option to extend by
12 months. Interest payable on the loan is based on SONIA depending on the currency of each withdrawal. As at the reporting date the credit facility drawn
amounted to \u20acNil (2023: \u20acNil).
Under the RCF, the covenants are monitored on a regular basis by the finance department, including modelling future projected cash flows under a number
of scenarios to stress-test any risk of covenant breaches, the results of which are reported to management and the Board of Directors. The covenants are
as follows:
\u2022 Leverage: Net Debt/Adjusted EBITDA to be less than 3.5:1 for the year ended 31 December 2024 (2023: less than 3.5:1).
\u2022 Interest cover: Adjusted EBITDA/Interest to be over 4:1 for the year ended 31 December 2024 (2023: over 4:1).
As at 31 December 2024 and 2023 the Group met these financial covenants.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-641": { "value": "
Note 27 \u2013 Bonds
2018
Bond
2019
Bond
2023
Bond
Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
At 1 January 2023
199.6
348.0
\u2014
547.6
Repayment of bonds
(200.0)
\u2014
\u2014
(200.0)
Issue of new bond
\u2014
\u2014
297.2
297.2
Release of capitalised expenses
0.4
0.6
0.3
1.3
At 31 December 2023/1 January 2024
\u2014
348.6
297.5
646.1
Repayment of bonds
\u2014
(200.0)
\u2014
(200.0)
Release of capitalised expenses
\u2014
1.0
0.6
1.6
At 31 December 2024
\u2014
149.6
298.1
447.7
2024 2023
\u20ac\u2019m \u20ac\u2019m
Split to:
Non-current
447.7
646.1
Current
\u2014
\u2014
447.7
646.1
Bonds
(a) 2018 Bond
On 12 October 2018, the Group issued \u20ac530.0 million of senior secured notes (the \u201c2018 Bond\u201d) maturing in October 2023. The net proceeds of issuing the
2018 Bond after deducting commissions and other direct costs of issue totalled \u20ac523.4 million.
Commissions and other direct costs of issue have been offset against the principal balance and are amortised over the period of the 2018 Bond.
The issue price was 100% of its principal amount and bears interest from 12 October 2018 at the rate of 3.75% per annum payable semi-annually, in arrears, on
12 April and 12 October commencing on 12 April 2019.
During the year ended 31 December 2022, the Group made a partial repayment towards the 2018 Bond of \u20ac330.0 million. It was fully repaid in 2023.
(b) 2019 Bond
On 7 March 2019, the Group issued \u20ac350.0 million of senior secured notes (the \u201c2019 Bond\u201d) maturing in March 2026. The net proceeds of issuing the 2019
Bond after deducting commissions and other direct costs of issue totalled \u20ac345.7 million.
Commissions and other direct costs of issue have been offset against the principal balance and are amortised over the period of the 2019 Bond.
The issue price is 100% of its principal amount and bears interest from 7 March 2019 at a rate of 4.25% per annum payable semi-annually, in arrears, on
7 September and 7 March commencing on 7 September 2019.
During the year, the Group made a partial repayment towards the 2019 Bond of \u20ac200.0 million.
(c) 2023 Bond
On 28 June 2023, the Group issued \u20ac300.0 million of senior secured notes (the \u201c2023 Bond\u201d) maturing in June 2028. The net proceeds of issuing the 2023
Bond after deducting commissions and other direct costs of issue totalled \u20ac297.2 million.
Commissions and other direct costs of issue have been offset against the principal balance and are amortised over the period of the 2023 Bond.
The issue price is 100% of its principal amount and bears interest from 28 June 2023 at a rate of 5.875% per annum payable semi-annually, in arrears, on
28 December and 28 June commencing on 28 December 2023.
As at 31 December 2024 and 2023, the Group met the required interest cover financial covenant of 2:1 Adjusted EBITDA/Interest ratio, for the combined 2018,
2019 and 2023 Bonds.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-642": { "value": "
Note 28 \u2013 Provisions for risks and charges, litigation and contingent liabilities
The Group is involved in proceedings before civil and administrative courts, and other legal or potential legal actions related to its business, including certain
matters related to previous acquisitions. Based on the information currently available, and taking into consideration the existing provisions for risks, the Group
currently considers that such proceedings and potential actions will not result in an adverse effect upon the financial statements; however, where this is not
considered to be remote, they have been disclosed as contingent liabilities.
All the matters were subject to a review and estimate by the Board of Directors based on the information available at the date of preparation of these financial
statements and, where appropriate, supported by updated legal opinions from independent professionals. These provisions are classified based on the
Directors\u2019 assessment of the progress and probabilities of success of each case at each reporting date.
Movements of the provisions outstanding as at 31 December 2024 are shown below:
Legal and
regulatory Contractual Other Total
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024
5.7
0.8
3.0
9.5
Provisions made during the year
0.5
\u2014
1.4
1.9
Provisions used during the year
(0.7)
\u2014
(0.3)
(1.0)
Provisions reversed during the year
(0.4)
(0.5)
(0.8)
(1.7)
Reclassification to assets classified as held for sale (Note 24)
(5.1)
(0.3)
(3.3)
(8.7)
Balance at 31 December 2024
\u2014
\u2014
\u2014
\u2014
Legal and
regulatory Contractual Other Total
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
2023
Non-current
5.7
0.3
2.9
8.9
Current
\u2014
0.5
0.1
0.6
5.7
0.8
3.0
9.5
2024
Non-current
\u2014
\u2014
\u2014
\u2014
Current
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Provision for legal and regulatory issues
The Group is subject to proceedings and potential claims regarding complex legal matters which are subject to a different degree of uncertainty. Provisions are
held for various legal and regulatory issues that relate to matters arising in the normal course of business including, in particular, various disputes that arose in
relation to the operation of the various licences held by the Group\u2019s subsidiary Snaitech. The uncertainty is due to complex legislative and licensing frameworks
in the various territories in which the Group operates. The Group also operates in certain jurisdictions where legal and regulatory matters can take considerable
time for the required local processes to be completed and the matters to be resolved.
Contractual claims
The Group is subject to historic claims relating to contractual matters that arise with customers in the normal course of business. The Group believes they
have a robust defence to the claims raised and has provided for the likely settlement where an outflow of funds is probable. The uncertainty relates to complex
contractual dealings with a wide range of customers in various jurisdictions, and because, as noted above, the Group operates in certain jurisdictions where
contractual disputes can take considerable time to be resolved in the local legal system.
Given the uncertainties inherent, it is difficult to predict with certainty the outlay (or the timing thereof) which will derive from these matters. It is therefore possible that
the value of the provisions may vary further based on future developments. The Group monitors the status of these matters and consults with its advisers and experts
on legal and tax-related matters in arriving at the provisions recorded. The provisions included, which were shown as part of assets held for sale at 31 December 2024,
represent the Directors\u2019 best estimate of the potential outlay and none of the matters provided for are individually material to the financial statements.
Accounting for uncertain tax positions
The Group is subject to various forms of tax in a number of jurisdictions. Given the nature of the industry and the jurisdictions within which the Group operates,
the tax, legal and regulatory regimes are continuously changing and subject to differing interpretations. As such, the Group is exposed to a small number of
uncertain tax positions and open audits/enquiries. Judgement is applied in order to adequately provide for uncertain tax positions where it is believed that
it is more likely than not that an economic outflow will arise. The Group has provided for uncertain tax positions which meet the recognition threshold and
these positions are included within tax liabilities. There is a risk that additional liabilities could arise. Given the uncertainty and the complexity of application of
international tax in the sector, it is not feasible to accurately quantify any possible range of liability or exposure, and this has therefore not been disclosed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-685": { "value": "Note 28 \u2013 Provisions for risks and charges, litigation and contingent liabilities The Group is involved in proceedings before civil and administrative courts, and other legal or potential legal actions related to its business, including certain matters related to previous acquisitions. Based on the information currently available, and taking into consideration the existing provisions for risks, the Group currently considers that such proceedings and potential actions will not result in an adverse effect upon the financial statements; however, where this is not considered to be remote, they have been disclosed as contingent liabilities. All the matters were subject to a review and estimate by the Board of Directors based on the information available at the date of preparation of these financial statements and, where appropriate, supported by updated legal opinions from independent professionals. These provisions are classified based on the Directors\u2019 assessment of the progress and probabilities of success of each case at each reporting date. Movements of the provisions outstanding as at 31 December 2024 are shown below:
Legal and
regulatory Contractual Other Total
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024
5.7
0.8
3.0
9.5
Provisions made during the year
0.5
\u2014
1.4
1.9
Provisions used during the year
(0.7)
\u2014
(0.3)
(1.0)
Provisions reversed during the year
(0.4)
(0.5)
(0.8)
(1.7)
Reclassification to assets classified as held for sale (Note 24)
(5.1)
(0.3)
(3.3)
(8.7)
Balance at 31 December 2024
\u2014
\u2014
\u2014
\u2014
Legal and
regulatory Contractual Other Total
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
2023
Non-current
5.7
0.3
2.9
8.9
Current
\u2014
0.5
0.1
0.6
5.7
0.8
3.0
9.5
2024
Non-current
\u2014
\u2014
\u2014
\u2014
Current
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Provision for legal and regulatory issues The Group is subject to proceedings and potential claims regarding complex legal matters which are subject to a different degree of uncertainty. Provisions are held for various legal and regulatory issues that relate to matters arising in the normal course of business including, in particular, various disputes that arose in relation to the operation of the various licences held by the Group\u2019s subsidiary Snaitech. The uncertainty is due to complex legislative and licensing frameworks in the various territories in which the Group operates. The Group also operates in certain jurisdictions where legal and regulatory matters can take considerable time for the required local processes to be completed and the matters to be resolved. Contractual claims The Group is subject to historic claims relating to contractual matters that arise with customers in the normal course of business. The Group believes they have a robust defence to the claims raised and has provided for the likely settlement where an outflow of funds is probable. The uncertainty relates to complex contractual dealings with a wide range of customers in various jurisdictions, and because, as noted above, the Group operates in certain jurisdictions where contractual disputes can take considerable time to be resolved in the local legal system. Given the uncertainties inherent, it is difficult to predict with certainty the outlay (or the timing thereof) which will derive from these matters. It is therefore possible that the value of the provisions may vary further based on future developments. The Group monitors the status of these matters and consults with its advisers and experts on legal and tax-related matters in arriving at the provisions recorded. The provisions included, which were shown as part of assets held for sale at 31 December 2024, represent the Directors\u2019 best estimate of the potential outlay and none of the matters provided for are individually material to the financial statements. Accounting for uncertain tax positions The Group is subject to various forms of tax in a number of jurisdictions. Given the nature of the industry and the jurisdictions within which the Group operates, the tax, legal and regulatory regimes are continuously changing and subject to differing interpretations. As such, the Group is exposed to a small number of uncertain tax positions and open audits/enquiries. Judgement is applied in order to adequately provide for uncertain tax positions where it is believed that it is more likely than not that an economic outflow will arise. The Group has provided for uncertain tax positions which meet the recognition threshold and these positions are included within tax liabilities. There is a risk that additional liabilities could arise. Given the uncertainty and the complexity of application of international tax in the sector, it is not feasible to accurately quantify any possible range of liability or exposure, and this has therefore not been disclosed.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-643": { "value": "
Note 29 \u2013 Deferred and contingent consideration
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current contingent consideration
Acquisition of AUS GMTC PTY Ltd
9.8
5.4
Others
\u2014
0.4
Total non-current contingent consideration
9.8
5.8
Current deferred and contingent consideration consists of:
LSports \u2013 deferred
6.9
\u2014
Other acquisitions \u2013 contingent
1.2
0.4
Total current deferred and contingent consideration
8.1
0.4
Total contingent consideration
17.9
6.2
The maximum deferred and contingent consideration payable is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Acquisition of AUS GMTC PTY Ltd
48.1
45.3
LSports
6.9
\u2014
Other acquisitions
1.2
0.8
56.2
46.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-687": { "value": "Note 29 \u2013 Deferred and contingent consideration
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current contingent consideration
Acquisition of AUS GMTC PTY Ltd
9.8
5.4
Others
\u2014
0.4
Total non-current contingent consideration
9.8
5.8
Current deferred and contingent consideration consists of:
LSports \u2013 deferred
6.9
\u2014
Other acquisitions \u2013 contingent
1.2
0.4
Total current deferred and contingent consideration
8.1
0.4
Total contingent consideration
17.9
6.2
The maximum deferred and contingent consideration payable is as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Acquisition of AUS GMTC PTY Ltd
48.1
45.3
LSports
6.9
\u2014
Other acquisitions
1.2
0.8
56.2
46.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-644": { "value": "
Note 30 \u2013 Trade payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Suppliers
25.2
46.0
Customer liabilities
36.4
20.9
61.6
66.9
Note 32 \u2013 Other payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current liabilities
Payroll and related expenses
14.0
30.6
Other
1.1
4.2
15.1
34.8
Current liabilities
Payroll and related expenses
146.0
99.8
Accrued expenses
47.9
76.0
VAT payable
3.1
2.7
Interest payable
2.6
5.9
Other payables
11.2
33.1
210.8
217.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-716": { "value": "Note 30 \u2013 Trade payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Suppliers
25.2
46.0
Customer liabilities
36.4
20.9
61.6
66.9
Note 32 \u2013 Other payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current liabilities
Payroll and related expenses
14.0
30.6
Other
1.1
4.2
15.1
34.8
Current liabilities
Payroll and related expenses
146.0
99.8
Accrued expenses
47.9
76.0
VAT payable
3.1
2.7
Interest payable
2.6
5.9
Other payables
11.2
33.1
210.8
217.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-686": { "value": "Note 31 \u2013 Deferred tax The movement on the deferred tax is as shown below:
2024 2023
\u20ac\u2019m \u20ac\u2019m
At 1 January as previously reported
(83.8)
(10.8)
Impact of correction of errors
\u2014
15.3
Restated balance at 1 January
(83.8)
4.5
Charge to profit or loss (continuing and discontinued operations)
(62.4)
(87.4)
On business combinations
\u2014
(0.9)
Reclassification to assets classified as held for sale (Note 24)
143.6
\u2014
At 31 December
(2.6)
(83.8)
2024 2023
\u20ac\u2019m \u20ac\u2019m
Split as:
Deferred tax liability
(19.2)
(161.6)
Deferred tax asset
16.6
77.8
(2.6)
(83.8)
Deferred tax assets and liabilities are offset only when there is a legally enforceable right of offset, in accordance with IAS 12. As at 31 December 2024, the Directors continued to recognise deferred tax assets arising from temporary differences and tax losses carried forward, with the latter only to the extent that it is probable that future taxable profit will be available against which the unused tax losses can be utilised. Please refer to Notes 6 and 13 for the assessment performed on the recognition of deferred tax in the period. Details of the deferred tax outstanding as at 31 December 2024 and 2023 are as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Deferred tax recognised on Group restructuring
\u2014
36.8
Tax losses
2.9
20.6
Other temporary and deductible differences
(5.3)
(6.4)
Deferred tax on acquisitions
(0.2)
(81.2)
Intangible assets
\u2014
(53.6)
(2.6)
(83.8)
Details of the deferred tax, amounts recognised in profit or loss are as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Accelerated capital allowances
(24.2)
(2.0)
Other temporary and deductible differences
(21.3)
(39.4)
Leases
\u2014
0.1
Tax losses
(16.9)
(4 6.1)
(62.4)
(87.4)
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-705": { "value": "Note 32 \u2013 Other payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current liabilities
Payroll and related expenses
14.0
30.6
Other
1.1
4.2
15.1
34.8
Current liabilities
Payroll and related expenses
146.0
99.8
Accrued expenses
47.9
76.0
VAT payable
3.1
2.7
Interest payable
2.6
5.9
Other payables
11.2
33.1
210.8
217.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-688": { "value": "Note 32 \u2013 Other payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current liabilities
Payroll and related expenses
14.0
30.6
Other
1.1
4.2
15.1
34.8
Current liabilities
Payroll and related expenses
146.0
99.8
Accrued expenses
47.9
76.0
VAT payable
3.1
2.7
Interest payable
2.6
5.9
Other payables
11.2
33.1
210.8
217.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-720": { "value": "Note 32 \u2013 Other payables
2024 2023
\u20ac\u2019m \u20ac\u2019m
Non-current liabilities
Payroll and related expenses
14.0
30.6
Other
1.1
4.2
15.1
34.8
Current liabilities
Payroll and related expenses
146.0
99.8
Accrued expenses
47.9
76.0
VAT payable
3.1
2.7
Interest payable
2.6
5.9
Other payables
11.2
33.1
210.8
217.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-645": { "value": "
Note 33 \u2013 Related parties
Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party\u2019s making of
financial or operational decisions, or if both parties are controlled by the same third party. Also, a party is considered to be related if a member of the key
management personnel has the ability to control the other party.
During the year, Group companies entered into the following transactions with related parties which are not members of the Group:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Revenue
Investments in associates
209.2
193.4
Interest income
Investments in associates
10.6
1.7
Operating expenses
Investments in associates
0.8
0.7
Dividend income
Investments in associates
0.4
2.0
The revenue from investments in associates includes income from Caliplay, Galera, Wplay, Onjoc, Tenbet and NorthStar. The interest income relates to the
same companies plus Stats International.
The following amounts were outstanding at the reporting date:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Trade receivables (Note 21)
Investments in associates
56.2
99.1
Other receivables (Note 22)
Investments in associates
0.3
0.3
Loans and interest receivable \u2013 current (Note 22)
Investments in associates
6.5
1.3
Loans and interest receivable \u2013 non-current (Note 20)
Investments in associates
87.6
60.9
Trade payables
Investments in associates
0.2
\u2014
The loans and interest receivables above do not include the expected credit losses. For the year ended 31 December 2024, the Group recognised a provision
for expected credit losses of \u20ac0.1 million relating to amounts owed by related parties in less than one year (2023: \u20ac0.1 million) and \u20ac5.1 million for more than one
year (2023: \u20ac2.4 million).
The loans due from related parties are further disclosed in Note 19.
Key management personnel compensation, which includes the Board members (Executive and Non-executive Directors) and senior management personnel,
comprised the following:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Short-term employee benefits
48.8
16.5
Post-employment benefits
\u2014
0.1
Termination benefits
\u2014
0.1
Share-based payments
2.2
2.8
51.0
19.5
The Group is aware that a partnership in which a member of key management personnel (who is not a Board member) has a non-controlling interest provides
certain advisory and consulting services to third-party service providers of the Group in connection with certain of the Group\u2019s structured and other commercial
agreements. The partnership contracts with and is compensated by the third-party service providers, and the Group has no direct arrangement with the
partnership. The total paid to this partnership by the third-party service providers was \u20ac2.7 million (2023: \u20ac12.5 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-706": { "value": "Note 33 \u2013 Related parties Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party\u2019s making of financial or operational decisions, or if both parties are controlled by the same third party. Also, a party is considered to be related if a member of the key management personnel has the ability to control the other party. During the year, Group companies entered into the following transactions with related parties which are not members of the Group:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Revenue
Investments in associates
209.2
193.4
Interest income
Investments in associates
10.6
1.7
Operating expenses
Investments in associates
0.8
0.7
Dividend income
Investments in associates
0.4
2.0
The revenue from investments in associates includes income from Caliplay, Galera, Wplay, Onjoc, Tenbet and NorthStar. The interest income relates to the same companies plus Stats International. The following amounts were outstanding at the reporting date:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Trade receivables (Note 21)
Investments in associates
56.2
99.1
Other receivables (Note 22)
Investments in associates
0.3
0.3
Loans and interest receivable \u2013 current (Note 22)
Investments in associates
6.5
1.3
Loans and interest receivable \u2013 non-current (Note 20)
Investments in associates
87.6
60.9
Trade payables
Investments in associates
0.2
\u2014
The loans and interest receivables above do not include the expected credit losses. For the year ended 31 December 2024, the Group recognised a provision for expected credit losses of \u20ac0.1 million relating to amounts owed by related parties in less than one year (2023: \u20ac0.1 million) and \u20ac5.1 million for more than one year (2023: \u20ac2.4 million). The loans due from related parties are further disclosed in Note 19. Key management personnel compensation, which includes the Board members (Executive and Non-executive Directors) and senior management personnel, comprised the following:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Short-term employee benefits
48.8
16.5
Post-employment benefits
\u2014
0.1
Termination benefits
\u2014
0.1
Share-based payments
2.2
2.8
51.0
19.5
The Group is aware that a partnership in which a member of key management personnel (who is not a Board member) has a non-controlling interest provides certain advisory and consulting services to third-party service providers of the Group in connection with certain of the Group\u2019s structured and other commercial agreements. The partnership contracts with and is compensated by the third-party service providers, and the Group has no direct arrangement with the partnership. The total paid to this partnership by the third-party service providers was \u20ac2.7 million (2023: \u20ac12.5 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-689": { "value": "Note 33 \u2013 Related parties Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party\u2019s making of financial or operational decisions, or if both parties are controlled by the same third party. Also, a party is considered to be related if a member of the key management personnel has the ability to control the other party. During the year, Group companies entered into the following transactions with related parties which are not members of the Group:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Revenue
Investments in associates
209.2
193.4
Interest income
Investments in associates
10.6
1.7
Operating expenses
Investments in associates
0.8
0.7
Dividend income
Investments in associates
0.4
2.0
The revenue from investments in associates includes income from Caliplay, Galera, Wplay, Onjoc, Tenbet and NorthStar. The interest income relates to the same companies plus Stats International. The following amounts were outstanding at the reporting date:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Trade receivables (Note 21)
Investments in associates
56.2
99.1
Other receivables (Note 22)
Investments in associates
0.3
0.3
Loans and interest receivable \u2013 current (Note 22)
Investments in associates
6.5
1.3
Loans and interest receivable \u2013 non-current (Note 20)
Investments in associates
87.6
60.9
Trade payables
Investments in associates
0.2
\u2014
The loans and interest receivables above do not include the expected credit losses. For the year ended 31 December 2024, the Group recognised a provision for expected credit losses of \u20ac0.1 million relating to amounts owed by related parties in less than one year (2023: \u20ac0.1 million) and \u20ac5.1 million for more than one year (2023: \u20ac2.4 million). The loans due from related parties are further disclosed in Note 19. Key management personnel compensation, which includes the Board members (Executive and Non-executive Directors) and senior management personnel, comprised the following:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Short-term employee benefits
48.8
16.5
Post-employment benefits
\u2014
0.1
Termination benefits
\u2014
0.1
Share-based payments
2.2
2.8
51.0
19.5
The Group is aware that a partnership in which a member of key management personnel (who is not a Board member) has a non-controlling interest provides certain advisory and consulting services to third-party service providers of the Group in connection with certain of the Group\u2019s structured and other commercial agreements. The partnership contracts with and is compensated by the third-party service providers, and the Group has no direct arrangement with the partnership. The total paid to this partnership by the third-party service providers was \u20ac2.7 million (2023: \u20ac12.5 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-646": { "value": "
Note 34 \u2013 Subsidiaries
Details of the Group\u2019s principal subsidiaries as at the end of the year are set out below:
Proportion of
voting rights
Country of and ordinary
Name incorporation
share capital held
Nature of business
Playtech Holdings Limited
Isle of Man
100%
Main trading company of the Group up to December 2020, which owned
the intellectual property rights and licensed the software to customers. From
January 2021 onwards, following the transfer of intellectual property rights
to Playtech Software Limited, the principal activity of this company is the
holding of investment in subsidiaries
Playtech Software Limited
United Kingdom
100%
Main trading company from 2021 onwards. Owns the intellectual property
rights and licenses the software to customers
Video B Holding Limited
British Virgin Islands
100%
Trading company for the Videobet software. Owns the intellectual property
rights of Videobet and licenses it to customers. From January 2021 onwards,
the principal activity is the holding of investment in subsidiaries
Playtech Services (Cyprus) Limited
Cyprus
100%
Manages the iPoker Network in regulated markets and is a main holding
company of the Group
VB (Video) Cyprus Limited
Cyprus
100%
Trading company for the Videobet product to Romanian companies
Virtue Fusion (Alderney) Limited
Alderney
100%
Online bingo and casino software provider
Intelligent Gaming Systems Limited
United Kingdom
100%
Casino management systems to land-based businesses
VF 2011
Limited
Alderney
100%
Holds licence in Alderney for online gaming and Bingo B2C operations
PT Turnkey Services Limited
Isle of Man
100%
Holding company of the Turnkey Services group
PT Entertenimiento Online EAD
Bulgaria
100%
Poker and bingo network for Spain
PT Marketing Services Limited
British Virgin Islands
100%
Holding company
PT Operational Services Limited
British Virgin Islands
100%
Holding company
PT Network Management Limited
British Virgin Islands
100%
Holding company
Videobet Interactive Sweden AB
Sweden
100%
Trading company for the Aristocrat Lotteries VLTs
Quickspin AB
Sweden
100%
Owns video slots intellectual property
Best Gaming Technology GmbH
Austria
100%
Trading company for sports betting
Playtech BGT Sports Limited
Cyprus
100%
Trading company for sports betting and provider of development services
ECM Systems Ltd
United Kingdom
100%
Owns bingo software intellectual property and bingo hardware
Eyecon Limited
Alderney
100%
Develops and provides online gaming slots
Rarestone Gaming PTY Ltd
Australia
100%
Development company
HPYBET Austria GmbH
Austria
100%
Operating shops in Austria
Snaitech SPA
Italy
100%
Italian retail betting market and gaming machine market
OU Playtech (Estonia)
Estonia
100%
Designs, develops and manufactures online software
Techplay Marketing Limited
Israel
100%
Provider of marketing support services, software development and support
services
OU Videobet
Estonia
100%
Develops software for fixed odds betting terminals and casino machines (as
opposed to online software)
Playtech Bulgaria EOOD
Bulgaria
100%
Designs, develops and manufactures online software
PTVB Management Limited
Isle of Man
100%
Management services company
Techplay S.A. Software Limited
Israel
100%
Software development and operational support services
CSMS Limited
Bulgaria
100%
Consulting and online technical support, data mining processing and
advertising services to Group companies
Mobenga AB Limited
Sweden
100%
Mobile sportsbook betting platform developer
PokerStrategy Ltd
Gibraltar
100%
Operates poker community business
Snai Rete Italia S.r.l.
Italy
100%
Italian retail betting market
PT Services UA LTD
Ukraine
100%
Designs, develops and manufactures software
Trinity Bet Operations Ltd
Malta
100%
Retail and digital sports betting
Euro live Technologies SIA
Latvia
100%
Provider of live services to Group companies
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-690": { "value": "Note 34 \u2013 Subsidiaries Details of the Group\u2019s principal subsidiaries as at the end of the year are set out below:
Proportion of
voting rights
Country of and ordinary
Name incorporation
share capital held
Nature of business
Playtech Holdings Limited
Isle of Man
100%
Main trading company of the Group up to December 2020, which owned
the intellectual property rights and licensed the software to customers. From
January 2021 onwards, following the transfer of intellectual property rights
to Playtech Software Limited, the principal activity of this company is the
holding of investment in subsidiaries
Playtech Software Limited
United Kingdom
100%
Main trading company from 2021 onwards. Owns the intellectual property
rights and licenses the software to customers
Video B Holding Limited
British Virgin Islands
100%
Trading company for the Videobet software. Owns the intellectual property
rights of Videobet and licenses it to customers. From January 2021 onwards,
the principal activity is the holding of investment in subsidiaries
Playtech Services (Cyprus) Limited
Cyprus
100%
Manages the iPoker Network in regulated markets and is a main holding
company of the Group
VB (Video) Cyprus Limited
Cyprus
100%
Trading company for the Videobet product to Romanian companies
Virtue Fusion (Alderney) Limited
Alderney
100%
Online bingo and casino software provider
Intelligent Gaming Systems Limited
United Kingdom
100%
Casino management systems to land-based businesses
VF 2011
Limited
Alderney
100%
Holds licence in Alderney for online gaming and Bingo B2C operations
PT Turnkey Services Limited
Isle of Man
100%
Holding company of the Turnkey Services group
PT Entertenimiento Online EAD
Bulgaria
100%
Poker and bingo network for Spain
PT Marketing Services Limited
British Virgin Islands
100%
Holding company
PT Operational Services Limited
British Virgin Islands
100%
Holding company
PT Network Management Limited
British Virgin Islands
100%
Holding company
Videobet Interactive Sweden AB
Sweden
100%
Trading company for the Aristocrat Lotteries VLTs
Quickspin AB
Sweden
100%
Owns video slots intellectual property
Best Gaming Technology GmbH
Austria
100%
Trading company for sports betting
Playtech BGT Sports Limited
Cyprus
100%
Trading company for sports betting and provider of development services
ECM Systems Ltd
United Kingdom
100%
Owns bingo software intellectual property and bingo hardware
Eyecon Limited
Alderney
100%
Develops and provides online gaming slots
Rarestone Gaming PTY Ltd
Australia
100%
Development company
HPYBET Austria GmbH
Austria
100%
Operating shops in Austria
Snaitech SPA
Italy
100%
Italian retail betting market and gaming machine market
OU Playtech (Estonia)
Estonia
100%
Designs, develops and manufactures online software
Techplay Marketing Limited
Israel
100%
Provider of marketing support services, software development and support
services
OU Videobet
Estonia
100%
Develops software for fixed odds betting terminals and casino machines (as
opposed to online software)
Playtech Bulgaria EOOD
Bulgaria
100%
Designs, develops and manufactures online software
PTVB Management Limited
Isle of Man
100%
Management services company
Techplay S.A. Software Limited
Israel
100%
Software development and operational support services
CSMS Limited
Bulgaria
100%
Consulting and online technical support, data mining processing and
advertising services to Group companies
Mobenga AB Limited
Sweden
100%
Mobile sportsbook betting platform developer
PokerStrategy Ltd
Gibraltar
100%
Operates poker community business
Snai Rete Italia S.r.l.
Italy
100%
Italian retail betting market
PT Services UA LTD
Ukraine
100%
Designs, develops and manufactures software
Trinity Bet Operations Ltd
Malta
100%
Retail and digital sports betting
Euro live Technologies SIA
Latvia
100%
Provider of live services to Group companies
", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-691": { "value": "Note 35 \u2013 Financial instruments and risk management The Group has exposure to the following risks arising from financial instruments: \u2022 credit risk; \u2022 liquidity risk; and \u2022 market risk. There have been no substantive changes in the Group\u2019s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or the methods used to measure them from previous periods unless otherwise stated in this note. The principal financial instruments of the Group, from which financial instrument risks arises, are as follows: \u2022 trade receivables; \u2022 loans receivable; \u2022 convertible loans; \u2022 cash and cash equivalents; \u2022 investments in equity securities; \u2022 derivative financial assets; \u2022 trade payables; \u2022 bonds; \u2022 loans and borrowings; and \u2022 deferred and contingent consideration. Financial instrument by category The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy.
Carrying amount
Fair value
Measurement 2024 Level 1 Level 2 Level 3
Note category \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
31 December 2024
Non-current assets
Equity investments
19B
FVTPL
152.1
11.1
\u2014
141.0
Derivative financial assets
19C
FVTPL
895.0
\u2014
\u2014
895.0
Loans receivable
20
Amortised cost
85.9
\u2014
\u2014
\u2014
Current assets
Trade receivables
21
Amortised cost
141.6
\u2014
\u2014
\u2014
Loans receivable
20
Amortised cost
7.3
\u2014
\u2014
\u2014
Cash and cash equivalents
23
Amortised cost
268.1
\u2014
\u2014
\u2014
Non-current liabilities
Bonds
27
Amortised cost
447.7
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
26.5
\u2014
\u2014
\u2014
Deferred and contingent and consideration
29
FVTPL
9.8
\u2014
\u2014
9.8
Current liabilities
Trade payables
30
Amortised cost
61.6
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
19.8
\u2014
\u2014
\u2014
Progressive operators\u2019 jackpots and security
deposits
23
Amortised cost
99.8
\u2014
\u2014
\u2014
Client funds
23
Amortised cost
2.5
\u2014
\u2014
\u2014
Deferred and contingent and consideration
29
FVTPL
8.1
\u2014
\u2014
8.1
Interest payable
32
Amortised cost
2.6
\u2014
\u2014
\u2014
Carrying amount
Fair value
Measurement 2024 Level 1 Level 2 Level 3
Note category \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Treated as held for sale
31 December 2024
Current assets
Trade receivables
24
Amortised cost
81.7
\u2014
\u2014
\u2014
Cash and cash equivalents
23
Amortised cost
185.9
\u2014
\u2014
\u2014
Current liabilities
Trade payables
24
Amortised cost
26.2
\u2014
\u2014
\u2014
Lease liability
24
Amortised cost
34.7
\u2014
\u2014
\u2014
Progressive operators\u2019 jackpots and security
deposits
24
Amortised cost
13.1
\u2014
\u2014
\u2014
Client funds
24
Amortised cost
33.7
\u2014
\u2014
\u2014
Contingent consideration
24
FVTPL
2.0
\u2014
\u2014
2.0
Carrying amount
Fair value
Measurement 2023 Level 1 Level 2 Level 3
Note category \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
31 December 2023
Non-current assets
Equity investments
19B
FVTPL
92.8
15.8
\u2014
77.0
Derivative financial assets
19C
FVTPL
827.8
\u2014
\u2014
827.8
Convertible loans
20
FVTPL
3.5
\u2014
\u2014
3.5
Trade receivables
21
Amortised cost
1.9
\u2014
\u2014
\u2014
Loans receivable
20
Amortised cost
58.1
\u2014
\u2014
\u2014
Current assets
Trade receivables
21
Amortised cost
207.1
\u2014
\u2014
\u2014
Loans receivables
20
Amortised cost
1.7
\u2014
\u2014
\u2014
Cash and cash equivalents
23
Amortised cost
516.2
\u2014
\u2014
\u2014
Non-current liabilities
Bonds
27
Amortised cost
646.1
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
61.9
\u2014
\u2014
\u2014
Contingent consideration
29
FVTPL
5.8
\u2014
\u2014
5.8
Current liabilities
Trade payables
30
Amortised cost
66.9
\u2014
\u2014
\u2014
Lease liability
17
Amortised cost
24.9
\u2014
\u2014
\u2014
Progressive operators\u2019 jackpots and security
deposits
23
Amortised cost
111.0
\u2014
\u2014
\u2014
Client funds
23
Amortised cost
41.9
\u2014
\u2014
\u2014
Contingent consideration
29
FVTPL
0.4
\u2014
\u2014
0.4
Interest payable
32
Amortised cost
5.9
\u2014
\u2014
\u2014
The fair value of the contingent consideration is calculated by discounting the estimated cash flows. The valuation model considers the present value of the expected future payments, discounted using a risk adjusted discount rate. For details of the fair value hierarchy, valuation techniques and significant unobservable inputs relating to determining the fair value of equity investments and derivative financial assets, which are classified as Level 1 and 3 of the fair value hierarchy, refer to Note 6. The carrying amount does not materially differ from the fair value of the financial assets and liabilities. The Board has overall responsibility for the determination of the Group\u2019s risk management objectives and policies and, whilst retaining ultimate responsibility for them, it has delegated the authority for designing and operating processes that ensure the effective implementation of the objectives and policies to the Group\u2019s Finance function. The overall objective of the Board is to set policies that seek to reduce risk as far as possible without unduly affecting the Group\u2019s competitiveness and flexibility. Further details regarding these policies are set out below: A. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables), its investing activities through loans made and from its financing activities, including deposits with banks and financial institutions. After the impairment analysis performed at the reporting date, the expected credit losses (ECLs) are \u20ac10.7 million (2023: \u20ac9.7 million). As at 31 December 2024, two customers had combined loans and receivables outstanding of \u20ac113.3 million (2023: \u20ac139.7 million). Cash and cash equivalents The Group held cash and cash equivalents (before ECL) of \u20ac454.4 million as at 31 December 2024 including amounts shown in held for sale (2023: \u20ac516.6 million). The cash and cash equivalents are held with bank and financial institution counterparties, which are rated from Caa- to AA+, based on Moody\u2019s ratings. Impairment on cash and cash equivalents has been measured on a 12-month expected credit loss basis and reflects the short maturities of the exposures. The Group considers that its cash and cash equivalents have low credit risk based on the external credit ratings of the counterparties. The Group uses a similar approach for assessment of ECLs for cash and cash equivalents to those used for trade receivables. The ECL on cash balances as at 31 December 2024 is \u20ac0.4 million (2023: \u20ac0.4 million). A reasonable movement in the inputs of the ECL calculation of cash and cash equivalents does not materially change the ECL to be recognised.
Financial
Financial institutions
institutions with below
with A- and A- rating
Tot al above rating and no rating
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
At 31 December 2024
268.5
254.9
13.6
At 31 December 2023
516.6
337.0
179.6
Treated as held for sale
At 31 December 2024
185.9
61.0
124.9
At 31 December 2023
\u2014
\u2014
\u2014
Trade receivables The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the ECL, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The trade balances from related parties have also been included in the ECL assessment. The expected loss rates are calculated based on past default experience and an assessment of the future economic environment. The ECL is calculated with reference to the ageing and risk profile of the balances. As at 31 December 2024, the Group has trade receivables (including amounts disclosed as held for sale) of \u20ac223.2 million (2023: \u20ac209.0 million) which is net of an allowance for ECL of \u20ac5.1 million (2023: \u20ac6.8 million). The carrying amounts of financial assets represent the maximum credit exposure. Set out below is the movement in the allowance for expected credit losses of trade receivables:
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
2.2%
2.2%
3.4%
2.1%
Trade receivables after specific provision
228.3
193.4
11.6
23.3
Expected credit loss
(5.1)
(4.2)
(0.4)
(0.5)
Trade receivables \u2013 net
223.2
189.2
11.2
22.8
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
3.2%
4.8%
1.0%
2.1 %
Trade receivables after specific provision
215.8
109.3
62.9
43.6
Expected credit loss
(6.8)
(5.3)
(0.6)
(0.9)
Trade receivables \u2013 net
209.0
104.0
62.3
42.7
A reasonable movement in the inputs of the ECL calculation of trade receivables does not materially change the ECL to be recognised. Impairment losses on trade receivables and contract assets are presented as net impairment losses within the impairment of financial assets. Subsequent recoveries of amounts previously written off are credited against the same line item. The movement in the ECL in respect of trade receivables during the year was as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January
6.8
4.5
(Reversed) / Charged to profit or loss
(1.7)
2.3
Balance at 31 December
5.1
6.8
As at 31 December 2024, the Group has a significant concentration of trade receivables from a related party, representing 16% of the net trade receivable balance (2023: 41%). This concentration of receivables from a related party exposes the Group to concentration risk, as any adverse financial performance or inability of the related party to fulfil its obligations could have a material adverse impact on the Group\u2019s financial position, results of operations and cash flows. The Group believes that this amount is recoverable and expects timely payment (refer to Note 6 for significant judgement made). Loans receivable The Group recognised an allowance for expected credit losses for all debt instruments given to third parties based on past default experience and assessment of the future economic environment. For the year ended 31 December 2024, the Group recognised provision for expected credit losses of \u20ac5.2 million in profit or loss relating to loans receivable (2023: \u20ac2.5 million).
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024/2023
2.5
1.6
Charged to profit or loss
2.7
0.9
Balance at 31 December 2024/2023
5.2
2.5
B. Liquidity risk
Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash
or another financial asset. The Group\u2019s objective when managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities
when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation.
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted and include
contractual interest payments. Balances due within one year equal their carrying balances as the impact of discounting is not significant.
Contractual cash flows
Carrying More than
amount Tot al Within 1 year 1\u20135 years 5 years
2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Bonds
447.7
519.7
24.0
495.7
\u2014
Lease liability
46.3
54.7
20.8
23.7
10.2
Deferred and contingent consideration
17.9
19.7
8.1
11.6
\u2014
Trade payables
61.6
61.6
61.6
\u2014
\u2014
Progressive operators\u2019 jackpots and security deposits
99.8
99.8
99.8
\u2014
\u2014
Client funds
2.5
2.5
2.5
\u2014
\u2014
Interest payable
2.6
2.6
2.6
\u2014
\u2014
678.4
760.6
219.4
531.0
10.2
Contractual cash flows
Carrying More than
amount Tot al Within 1 year 1\u20135 years 5 years
2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Bonds
646.1
762.8
32.5
730.3
\u2014
Lease liability
86.8
96.8
26.7
53.5
16.6
Deferred and contingent consideration
6.2
7.8
0.4
7.4
\u2014
Trade payables
66.9
66.9
66.9
\u2014
\u2014
Progressive operators\u2019 jackpots and security deposits
111.0
111.0
111.0
\u2014
\u2014
Client funds
41.9
41.9
41.9
\u2014
\u2014
Interest payable
5.9
5.9
5.9
\u2014
\u2014
Provisions for risks and charges
9.5
9.5
0.6
8.9
\u2014
974.3
1,102.6
285.9
800.1
16.6
C. Market risk
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices, will affect the Group\u2019s income or the value
of its holding of financial instruments.
The objective of market risk management is to manage and control market risk exposures within acceptable parameters while optimising the return.
Currency risk
Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates.
Foreign exchange risk arises because the Group has operations located in various parts of the world. However, the functional currency of those operations
is the same as the Group\u2019s primary currency (Euro) and the Group is not substantially exposed to fluctuations in exchange rates in respect of assets held
overseas.
Foreign exchange risk also arises when the Group operations enter into foreign transactions, and when the Group holds cash balances, in currencies
denominated in a currency other than the functional currency.
In other
In EUR In USD In GBP currencies Tot al
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
Cash and cash equivalents
180.9
11.7
61.8
14.1
268.5
Progressive operators\u2019 jackpots and security deposits
(87.8)
(1.0)
(13.5)
\u2014
(102.3)
Cash and cash equivalents less client funds
93.1
10.7
48.3
14.1
166.2
In other
In EUR In USD In GBP currencies Tot al
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Treated as held for sale
Cash and cash equivalents
185.9
\u2014
\u2014
\u2014
185.9
Progressive operators\u2019 jackpots and security deposits
(46.8)
\u2014
\u2014
\u2014
(46.8)
Cash and cash equivalents less client funds
139.1
\u2014
\u2014
\u2014
139.1
In other
In EUR In USD In GBP currencies Tot al
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cash and cash equivalents
418.7
11.2
69.7
17.0
516.6
Progressive operators\u2019 jackpots and security deposits
(140.3)
(0.4)
(12.2)
\u2014
(152.9)
Cash and cash equivalents less client funds
278.4
10.8
57.5
17.0
363.7
Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Group\u2019s exposure to the risk of changes in market interest rates relates primarily to the Group\u2019s long-term debt obligations with floating interest rates. The Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate bonds and loans and borrowings. At 31 December 2024, none of the Group\u2019s borrowings are at a variable rate of interest (2023: Nil%). Any reasonably possible change to the interest rate would have an immaterial effect on the interest payable. Equity price risk The Group is exposed to market risk by way of holding some investments in other companies on a short-term basis. Variations in market value over the life of these investments will have an immaterial impact on the balance sheet and the statement of comprehensive income.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-717": { "value": "A. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables), its investing activities through loans made and from its financing activities, including deposits with banks and financial institutions. After the impairment analysis performed at the reporting date, the expected credit losses (ECLs) are \u20ac10.7 million (2023: \u20ac9.7 million). As at 31 December 2024, two customers had combined loans and receivables outstanding of \u20ac113.3 million (2023: \u20ac139.7 million). Cash and cash equivalents The Group held cash and cash equivalents (before ECL) of \u20ac454.4 million as at 31 December 2024 including amounts shown in held for sale (2023: \u20ac516.6 million). The cash and cash equivalents are held with bank and financial institution counterparties, which are rated from Caa- to AA+, based on Moody\u2019s ratings. Impairment on cash and cash equivalents has been measured on a 12-month expected credit loss basis and reflects the short maturities of the exposures. The Group considers that its cash and cash equivalents have low credit risk based on the external credit ratings of the counterparties. The Group uses a similar approach for assessment of ECLs for cash and cash equivalents to those used for trade receivables. The ECL on cash balances as at 31 December 2024 is \u20ac0.4 million (2023: \u20ac0.4 million). A reasonable movement in the inputs of the ECL calculation of cash and cash equivalents does not materially change the ECL to be recognised.
Financial
Financial institutions
institutions with below
with A- and A- rating
Tot al above rating and no rating
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
At 31 December 2024
268.5
254.9
13.6
At 31 December 2023
516.6
337.0
179.6
Treated as held for sale
At 31 December 2024
185.9
61.0
124.9
At 31 December 2023
\u2014
\u2014
\u2014
Trade receivables The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the ECL, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The trade balances from related parties have also been included in the ECL assessment. The expected loss rates are calculated based on past default experience and an assessment of the future economic environment. The ECL is calculated with reference to the ageing and risk profile of the balances. As at 31 December 2024, the Group has trade receivables (including amounts disclosed as held for sale) of \u20ac223.2 million (2023: \u20ac209.0 million) which is net of an allowance for ECL of \u20ac5.1 million (2023: \u20ac6.8 million). The carrying amounts of financial assets represent the maximum credit exposure. Set out below is the movement in the allowance for expected credit losses of trade receivables:
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
2.2%
2.2%
3.4%
2.1%
Trade receivables after specific provision
228.3
193.4
11.6
23.3
Expected credit loss
(5.1)
(4.2)
(0.4)
(0.5)
Trade receivables \u2013 net
223.2
189.2
11.2
22.8
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
3.2%
4.8%
1.0%
2.1 %
Trade receivables after specific provision
215.8
109.3
62.9
43.6
Expected credit loss
(6.8)
(5.3)
(0.6)
(0.9)
Trade receivables \u2013 net
209.0
104.0
62.3
42.7
A reasonable movement in the inputs of the ECL calculation of trade receivables does not materially change the ECL to be recognised. Impairment losses on trade receivables and contract assets are presented as net impairment losses within the impairment of financial assets. Subsequent recoveries of amounts previously written off are credited against the same line item. The movement in the ECL in respect of trade receivables during the year was as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January
6.8
4.5
(Reversed) / Charged to profit or loss
(1.7)
2.3
Balance at 31 December
5.1
6.8
As at 31 December 2024, the Group has a significant concentration of trade receivables from a related party, representing 16% of the net trade receivable balance (2023: 41%). This concentration of receivables from a related party exposes the Group to concentration risk, as any adverse financial performance or inability of the related party to fulfil its obligations could have a material adverse impact on the Group\u2019s financial position, results of operations and cash flows. The Group believes that this amount is recoverable and expects timely payment (refer to Note 6 for significant judgement made). Loans receivable The Group recognised an allowance for expected credit losses for all debt instruments given to third parties based on past default experience and assessment of the future economic environment. For the year ended 31 December 2024, the Group recognised provision for expected credit losses of \u20ac5.2 million in profit or loss relating to loans receivable (2023: \u20ac2.5 million).
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024/2023
2.5
1.6
Charged to profit or loss
2.7
0.9
Balance at 31 December 2024/2023
5.2
2.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-707": { "value": "A. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables), its investing activities through loans made and from its financing activities, including deposits with banks and financial institutions. After the impairment analysis performed at the reporting date, the expected credit losses (ECLs) are \u20ac10.7 million (2023: \u20ac9.7 million). As at 31 December 2024, two customers had combined loans and receivables outstanding of \u20ac113.3 million (2023: \u20ac139.7 million). Cash and cash equivalents The Group held cash and cash equivalents (before ECL) of \u20ac454.4 million as at 31 December 2024 including amounts shown in held for sale (2023: \u20ac516.6 million). The cash and cash equivalents are held with bank and financial institution counterparties, which are rated from Caa- to AA+, based on Moody\u2019s ratings. Impairment on cash and cash equivalents has been measured on a 12-month expected credit loss basis and reflects the short maturities of the exposures. The Group considers that its cash and cash equivalents have low credit risk based on the external credit ratings of the counterparties. The Group uses a similar approach for assessment of ECLs for cash and cash equivalents to those used for trade receivables. The ECL on cash balances as at 31 December 2024 is \u20ac0.4 million (2023: \u20ac0.4 million). A reasonable movement in the inputs of the ECL calculation of cash and cash equivalents does not materially change the ECL to be recognised.
Financial
Financial institutions
institutions with below
with A- and A- rating
Tot al above rating and no rating
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
At 31 December 2024
268.5
254.9
13.6
At 31 December 2023
516.6
337.0
179.6
Treated as held for sale
At 31 December 2024
185.9
61.0
124.9
At 31 December 2023
\u2014
\u2014
\u2014
Trade receivables The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the ECL, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The trade balances from related parties have also been included in the ECL assessment. The expected loss rates are calculated based on past default experience and an assessment of the future economic environment. The ECL is calculated with reference to the ageing and risk profile of the balances. As at 31 December 2024, the Group has trade receivables (including amounts disclosed as held for sale) of \u20ac223.2 million (2023: \u20ac209.0 million) which is net of an allowance for ECL of \u20ac5.1 million (2023: \u20ac6.8 million). The carrying amounts of financial assets represent the maximum credit exposure. Set out below is the movement in the allowance for expected credit losses of trade receivables:
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
2.2%
2.2%
3.4%
2.1%
Trade receivables after specific provision
228.3
193.4
11.6
23.3
Expected credit loss
(5.1)
(4.2)
(0.4)
(0.5)
Trade receivables \u2013 net
223.2
189.2
11.2
22.8
More than
1\u20132 months 2 months
Tot al Not past due overdue past due
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Expected credit loss rate
3.2%
4.8%
1.0%
2.1 %
Trade receivables after specific provision
215.8
109.3
62.9
43.6
Expected credit loss
(6.8)
(5.3)
(0.6)
(0.9)
Trade receivables \u2013 net
209.0
104.0
62.3
42.7
A reasonable movement in the inputs of the ECL calculation of trade receivables does not materially change the ECL to be recognised. Impairment losses on trade receivables and contract assets are presented as net impairment losses within the impairment of financial assets. Subsequent recoveries of amounts previously written off are credited against the same line item. The movement in the ECL in respect of trade receivables during the year was as follows:
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January
6.8
4.5
(Reversed) / Charged to profit or loss
(1.7)
2.3
Balance at 31 December
5.1
6.8
As at 31 December 2024, the Group has a significant concentration of trade receivables from a related party, representing 16% of the net trade receivable balance (2023: 41%). This concentration of receivables from a related party exposes the Group to concentration risk, as any adverse financial performance or inability of the related party to fulfil its obligations could have a material adverse impact on the Group\u2019s financial position, results of operations and cash flows. The Group believes that this amount is recoverable and expects timely payment (refer to Note 6 for significant judgement made). Loans receivable The Group recognised an allowance for expected credit losses for all debt instruments given to third parties based on past default experience and assessment of the future economic environment. For the year ended 31 December 2024, the Group recognised provision for expected credit losses of \u20ac5.2 million in profit or loss relating to loans receivable (2023: \u20ac2.5 million).
2024 2023
\u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024/2023
2.5
1.6
Charged to profit or loss
2.7
0.9
Balance at 31 December 2024/2023
5.2
2.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-708": { "value": "B. Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group\u2019s objective when managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted and include contractual interest payments. Balances due within one year equal their carrying balances as the impact of discounting is not significant.
Contractual cash flows
Carrying More than
amount Tot al Within 1 year 1\u20135 years 5 years
2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Bonds
447.7
519.7
24.0
495.7
\u2014
Lease liability
46.3
54.7
20.8
23.7
10.2
Deferred and contingent consideration
17.9
19.7
8.1
11.6
\u2014
Trade payables
61.6
61.6
61.6
\u2014
\u2014
Progressive operators\u2019 jackpots and security deposits
99.8
99.8
99.8
\u2014
\u2014
Client funds
2.5
2.5
2.5
\u2014
\u2014
Interest payable
2.6
2.6
2.6
\u2014
\u2014
678.4
760.6
219.4
531.0
10.2
Contractual cash flows
Carrying More than
amount Tot al Within 1 year 1\u20135 years 5 years
2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Bonds
646.1
762.8
32.5
730.3
\u2014
Lease liability
86.8
96.8
26.7
53.5
16.6
Deferred and contingent consideration
6.2
7.8
0.4
7.4
\u2014
Trade payables
66.9
66.9
66.9
\u2014
\u2014
Progressive operators\u2019 jackpots and security deposits
111.0
111.0
111.0
\u2014
\u2014
Client funds
41.9
41.9
41.9
\u2014
\u2014
Interest payable
5.9
5.9
5.9
\u2014
\u2014
Provisions for risks and charges
9.5
9.5
0.6
8.9
\u2014
974.3
1,102.6
285.9
800.1
16.6
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-709": { "value": "C. Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices, will affect the Group\u2019s income or the value of its holding of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters while optimising the return. Currency risk Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. Foreign exchange risk arises because the Group has operations located in various parts of the world. However, the functional currency of those operations is the same as the Group\u2019s primary currency (Euro) and the Group is not substantially exposed to fluctuations in exchange rates in respect of assets held overseas. Foreign exchange risk also arises when the Group operations enter into foreign transactions, and when the Group holds cash balances, in currencies denominated in a currency other than the functional currency.
In other
In EUR In USD In GBP currencies Tot al
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Continuing operations
Cash and cash equivalents
180.9
11.7
61.8
14.1
268.5
Progressive operators\u2019 jackpots and security deposits
(87.8)
(1.0)
(13.5)
\u2014
(102.3)
Cash and cash equivalents less client funds
93.1
10.7
48.3
14.1
166.2
In other
In EUR In USD In GBP currencies Tot al
31 December 2024 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Treated as held for sale
Cash and cash equivalents
185.9
\u2014
\u2014
\u2014
185.9
Progressive operators\u2019 jackpots and security deposits
(46.8)
\u2014
\u2014
\u2014
(46.8)
Cash and cash equivalents less client funds
139.1
\u2014
\u2014
\u2014
139.1
In other
In EUR In USD In GBP currencies Tot al
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Cash and cash equivalents
418.7
11.2
69.7
17.0
516.6
Progressive operators\u2019 jackpots and security deposits
(140.3)
(0.4)
(12.2)
\u2014
(152.9)
Cash and cash equivalents less client funds
278.4
10.8
57.5
17.0
363.7
Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Group\u2019s exposure to the risk of changes in market interest rates relates primarily to the Group\u2019s long-term debt obligations with floating interest rates. The Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate bonds and loans and borrowings. At 31 December 2024, none of the Group\u2019s borrowings are at a variable rate of interest (2023: Nil%). Any reasonably possible change to the interest rate would have an immaterial effect on the interest payable. Equity price risk The Group is exposed to market risk by way of holding some investments in other companies on a short-term basis. Variations in market value over the life of these investments will have an immaterial impact on the balance sheet and the statement of comprehensive income.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-647": { "value": "
Note 36 \u2013 Reconciliation of movement of liabilities to cash flows arising from financing activities
Liabilities
Interest on
loans and Deferred and
Loans and borrowings contingent Lease
borrowings Bonds and bonds consideration liabilities Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2024
\u2014
646.1
5.9
6.2
86.8
745.0
Changes from financing cash flows
Interest paid on bonds
\u2014
\u2014
(35.0)
\u2014
\u2014
(35.0)
Repayment of bonds
\u2014
(200.0)
\u2014
\u2014
\u2014
(200.0)
Payment of contingent consideration
\u2014
\u2014
\u2014
(0.5)
\u2014
(0.5)
Principal paid on lease liability
\u2014
\u2014
\u2014
\u2014
(25.8)
(25.8)
Interest paid on lease liability
\u2014
\u2014
\u2014
\u2014
(4.7)
(4.7)
Total changes from financing cash flows
\u2014
(200.0)
(35.0)
(0.5)
(30.5)
(266.0)
Other changes
Liability related
New leases
\u2014
\u2014
\u2014
\u2014
16.7
16.7
On business combinations
\u2014
\u2014
\u2014
1.6
2.0
3.6
Contingent consideration on acquisition of
investments
\u2014
\u2014
\u2014
8.1
\u2014
8 .1
Interest on bonds and loans and borrowings
\u2014
1.6
32.4
\u2014
\u2014
34.0
Interest on lease liability
\u2014
\u2014
\u2014
\u2014
4.7
4.7
Movement in contingent consideration
\u2014
\u2014
\u2014
3.8
\u2014
3.8
Foreign exchange difference
\u2014
\u2014
\u2014
0.7
1.5
2.2
Total liability-related other changes
\u2014
1.6
32.4
14.2
24.9
73 .1
Balance at 31 December 2024
\u2014
447.7
3.3
19.9
81.2
552.1
Liabilities
Interest on
loans and Deferred and
Loans and borrowings contingent Lease
borrowings Bonds and bonds consideration liabilities Tot al
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Balance at 1 January 2023
\u2014
547.6
7.3
2.9
85.8
643.6
Changes from financing cash flows
Interest paid on bonds
\u2014
\u2014
(31.3)
\u2014
\u2014
(31.3)
Repayment of loans and borrowings
(77.4)
\u2014
\u2014
\u2014
\u2014
(77.4)
Proceeds from loans and borrowings
79.9
\u2014
\u2014
\u2014
\u2014
79.9
Proceeds from the issuance of bonds
\u2014
297.2
\u2014
\u2014
\u2014
297.2
Repayment of bonds
\u2014
(200.0)
\u2014
\u2014
\u2014
(200.0)
Payment of contingent consideration
\u2014
\u2014
\u2014
(0.2)
\u2014
(0.2)
Principal paid on lease liability
\u2014
\u2014
\u2014
\u2014
(23.1)
(23.1)
Interest paid on lease liability
\u2014
\u2014
\u2014
\u2014
(5.2)
(5.2)
Total changes from financing cash flows
2.5
97.2
(31.3)
(0.2)
(28.3)
39.9
Other changes
Liability related
New leases
\u2014
\u2014
\u2014
\u2014
22.0
22.0
On business combinations
\u2014
\u2014
\u2014
0.4
1.9
2.3
Interest on bonds and loans and borrowings
\u2014
1.3
29.6
\u2014
\u2014
30.9
Interest on lease liability
\u2014
\u2014
\u2014
\u2014
5.2
5.2
Movement in contingent consideration
\u2014
\u2014
\u2014
3.3
\u2014
3.3
Foreign exchange difference
(2.5)
\u2014
0.3
(0.2)
0.2
(2.2)
Total liability-related other changes
(2.5)
1.3
29.9
3.5
29.3
61.5
Balance at 31 December 2023
\u2014
646.1
5.9
6.2
86.8
745.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-692": { "value": "
Note 37 \u2013 Correction of error
The 2022 and 2023 financial statements have been restated due to an accounting error principally arising on consolidation. The error was principally due to
a deferred tax liability arising at subsidiary level only which should have been eliminated at the consolidation but was incorrectly offset against a deferred tax
asset in the Group balance sheet.
A third balance sheet has been represented for the 2022 year-end to increase the deferred tax asset by \u20ac15.3 million with corresponding adjustment to 2023
balance sheet and retained earnings. The adjustment to the 2022 balance sheet includes the impact in profit or loss for the year ended 31 December 2023
which is not material and therefore has been included as part of the opening reserves adjustment. The adjustment increases net assets by \u20ac15.3 million in each
of the years.
The following tables summarise the impact on the Group\u2019s consolidated financial statements:
31 December 2022
Impact of correction of error
As previously
reported Adjustments As restated
\u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Deferred tax assets
114.0
15.3
129.3
Other assets
2,909.9
\u2014
2,909.9
Total assets
3,023.9
15.3
3,039.2
Total liabilities
1,321.4
\u2014
1,321.4
Retained earnings
1,113.0
15.3
1,128.3
Others
589.5
\u2014
589.5
Total equity
1,702.5
15.3
1,717.8
As previously
reported Adjustments As restated
31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m
Deferred tax assets
62.5
15.3
77.8
Other assets
3,263.3
\u2014
3,263.3
Total assets
3,325.8
15.3
3,341.1
Total liabilities
1,519.6
\u2014
1,519.6
Retained earnings
1,219.2
15.3
1,234.5
Others
587.0
\u2014
587.0
Total equity
1,806.2
15.3
1,821.5
There is no impact on the Group\u2019s basic or diluted earnings per share, or on the total operating investing or financing cash flows for the year ended
31 December 2023.
", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureAmountAndCorrectionOfAccountingErrorsInPriorPeriodsEstimate", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-649": { "value": "Note 37 \u2013 Correction of error The 2022 and 2023 financial statements have been restated due to an accounting error principally arising on consolidation. The error was principally due to a deferred tax liability arising at subsidiary level only which should have been eliminated at the consolidation but was incorrectly offset against a deferred tax asset in the Group balance sheet. A third balance sheet has been represented for the 2022 year-end to increase the deferred tax asset by \u20ac15.3 million with corresponding adjustment to 2023 balance sheet and retained earnings. The adjustment to the 2022 balance sheet includes the impact in profit or loss for the year ended 31 December 2023 which is not material and therefore has been included as part of the opening reserves adjustment. The adjustment increases net assets by \u20ac15.3 million in each of the years. The following tables summarise the impact on the Group\u2019s consolidated financial statements: 31 December 2022 Impact of correction of error As previously reported Adjustments As restated \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m Deferred tax assets 114.0 15.3 129.3 Other assets 2,909.9 \u2014 2,909.9 Total assets 3,023.9 15.3 3,039.2 Total liabilities 1,321.4 \u2014 1,321.4 Retained earnings 1,113.0 15.3 1,128.3 Others 589.5 \u2014 589.5 Total equity 1,702.5 15.3 1,717.8 As previously reported Adjustments As restated 31 December 2023 \u20ac\u2019m \u20ac\u2019m \u20ac\u2019m Deferred tax assets 62.5 15.3 77.8 Other assets 3,263.3 \u2014 3,263.3 Total assets 3,325.8 15.3 3,341.1 Total liabilities 1,519.6 \u2014 1,519.6 Retained earnings 1,219.2 15.3 1,234.5 Others 587.0 \u2014 587.0 Total equity 1,806.2 15.3 1,821.5 There is no impact on the Group\u2019s basic or diluted earnings per share, or on the total operating investing or financing cash flows for the year ended 31 December 2023.", "dimensions": { "concept": "playtechplc:DisclosureOfCorrectionOfError", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-648": { "value": "
Note 38 \u2013 Events after the reporting date
In January 2025, NorthStar secured a credit arrangement of up to CAD 43.4 million from Beach Point Capital Management LP, with the Playtech Group
agreeing to provide credit support for certain obligations under the credit facility. The purpose of this credit arrangement is to support NorthStar\u2019s continued
growth by strengthening its balance sheet. One of the uses of the proceeds was the repayment of CAD 9.5 million promissory notes owed by NorthStar
to Playtech at 31 December 2024, which was received in January 2025. NorthStar also issued to Playtech 32,735,295 common share purchase warrants,
exercisable at a price of CAD 0.055 per share, expiring in five years, in exchange for Playtech being the loan guarantor.
In March 2025, the Group paid LSports the additional consideration of \u20ac6.9 million which was recorded as deferred consideration as at 31 December 2024.
Also in March 2025, the Group confirmed that the Mexican antitrust approval has now been received for the revised arrangements related to its strategic
agreement with Caliplay, and as such completion is scheduled to take place on 31 March 2025.
On 26 March 2025, the Group signed an agreement for a new amended \u20ac225.0 million 5-year RCF facility, which, subject to completion of the sale of Snaitech,
expected to occur in Q2 2025, will amend and restate the existing \u20ac277.0 million RCF facility and become effective on completion of the sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:21380068TTB6Z9ZEU548", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }