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EVGGF - Playtech's B2B Business Is Getting Sidelined
Evolution Gaming Group AB
Playtech (PYTCF) reported H1 results on Thursday. The company has struggled in a turbulent period as retail and sports betting were absent for a substantial amount of time. I still believe Playtech is facing a number of headwinds regarding COVID and is also losing its grip on the live casino market as Evolution Gaming (EVGGF) ((EVO)) gains a dominant position. In fact, Playtech has actually been struggling over the last few years to deliver strong growth in profitability. Due to the uncertain outlook, I am bearish on Playtech.