March 19, 2020 / 7:21 AM / 13 days ago

BRIEF-Playtech Postpones Share Repurchase Programme With Immediate Effect

March 19 (Reuters) - Playtech PLC:

* PLAYTECH PLC - DUE TO VIRUS, CASINO BUSINESS HAS SEEN LIMITED IMPACT AT THIS POINT ALTHOUGH COMPANY IS CONTINUALLY MONITORING SITUATION

* PLAYTECH PLC - ESTIMATES B2B SPORT BUSINESS WILL GENERATE A LOSS OF EUR 4 MILLION OF ADJUSTED EBITDA PER MONTH BEFORE MITIGATION

* PLAYTECH PLC - B2C GAMBLING FURTHER IMPACTED BY POSTPONEMENT OF MOST SPORTING EVENTS AND COMPETITIONS GLOBALLY

* PLAYTECH PLC - PLAYTECH’S B2B SPORT BUSINESS IS BEING SIGNIFICANTLY IMPACTED BY POSTPONEMENT OF MOST MAJOR SPORTING EVENTS AND COMPETITIONS GLOBALLY

* PLAYTECH PLC - APPROPRIATE TO MAXIMISE LIQUIDITY WITHIN COMPANY AND IS SUSPENDING SHAREHOLDER DISTRIBUTIONS UNTIL FURTHER NOTICE

* PLAYTECH PLC - SHARE REPURCHASE PROGRAMME ANNOUNCED AT FY 2019 RESULTS HAS BEEN POSTPONED WITH IMMEDIATE EFFECT

* PLAYTECH PLC - TOGETHER THESE MEASURES WILL SAVE COMPANY OVER EUR 65 MILLION OF CASH OUTFLOWS

* PLAYTECH PLC - 2019 FINAL DIVIDEND OF EUR 0.12 WILL NOT BE PROPOSED AT AGM SCHEDULED TO BE HELD ON 20 MAY 2020

* PLAYTECH - EXPECT RETAIL B2C SPORT UNIT TO GENERATE LOSS OF EUR 0.5 MILLION ADJUSTED EBITDA/MONTH AS SHOPS REMAIN CLOSED, LACK OF SPORTING EVENTS Source text for Eikon: Further company coverage:

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