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PLAYSTUDIOS, a developer of free-to-play casual games, reported a strong financial performance for Q1 2021, with revenue of $74.1 million, marking a 27.1% increase year-over-year. Net income rose to $5.9 million, up 7.8% compared to the previous year. The company's AEBITDA reached $14.5 million, a 7.7% increase from Q1 2020. New game launches, including myVEGAS Bingo and Kingdom Boss, are set to drive growth in rapidly expanding categories. The anticipated business combination with Acies Acquisition Corp is expected to close in Q2 or Q3 2021, positioning PLAYSTUDIOS for continued success.
