Playstudios Inc Stock Price, News & Analysis

PLAYSTUDIOS has announced a significant expansion of its playAWARDS loyalty program through a partnership with IHG Hotels & Resorts. Starting June 2022, players can redeem loyalty points for discounts on stays at over 6,000 IHG properties worldwide. This collaboration adds all 17 IHG brands, including InterContinental and Holiday Inn, to the rewards catalog, enhancing the value of the playAWARDS program. Discounts include 15% off across IHG's entire portfolio, marking the largest addition to the platform's offerings.

PLAYSTUDIOS (NASDAQ: MYPS) reported Q2 2022 revenue of $68.4 million, down from $70.8 million in Q2 2021. Net income increased to $5.5 million, a recovery from a $7.0 million loss the prior year. AEBITDA rose to $7.3 million from $3.4 million. The company updated its full-year revenue guidance to $270.0 million to $285.0 million and expects AEBITDA between $30.0 million and $35.0 million. CEO Andrew Pascal highlighted strategies to enhance audience engagement and launch new games, including TETRIS.

PLAYSTUDIOS (NASDAQ: MYPS) partners with Forte to launch playBLOCKS, a new division focused on integrating blockchain technology into gaming rewards.

This collaboration aims to enhance user experiences in token economies and secure management of digital assets. Leveraging Forte's blockchain infrastructure, PLAYSTUDIOS seeks to create engaging environments for players and brands alike. The partnership aligns with both companies' vision to redefine gaming economics, rewarding players with real-world benefits through the playAWARDS platform.

PLAYSTUDIOS has launched its new blockchain division, playBLOCKS, enhancing its leadership in 'rewarded play'. This new initiative follows the acquisition of WonderBlocks and a partnership with Forte, aimed at delivering engaging experiences and secure interactions for players and rewards partners. The company also introduced a $10 million Future Fund to invest in Web3 innovations. These strategic moves are designed to leverage blockchain technology, benefiting from improved loyalty mechanics and a solidified market position in gaming.

PLAYSTUDIOS, Inc. (Nasdaq: MYPS), a developer of mobile games offering real-world rewards, will announce its Q2 2022 financial results on August 9, 2022, after market close. The company plans to host a conference call and audio webcast on the same day at 5:00 PM Eastern Time for discussing these results. Access to the live event and a subsequent audio replay will be available on PLAYSTUDIOS' investor relations website. The company is known for its loyalty platform, playAWARDS, and popular games such as Tetris® and myVEGAS Slots.

PLAYSTUDIOS (NASDAQ: MYPS) has introduced a new Clubhouse feature in its myVEGAS Slots app, enhancing social gaming experiences for players. This major update allows players to collaborate, complete missions, and unlock exclusive chip rewards. The feature builds on prior successes in myVEGAS Bingo and POP! Slots, offering expanded opportunities for player engagement. Players can create clubs, invite friends, and track points for rewards within the app. This initiative aims to unify millions of players globally.

PLAYSTUDIOS is reviving its popular Summer of Slots event after a two-year pause, inviting players to join in-person celebrations across multiple locations in North America. Kicking off on June 23, the event will feature games, giveaways, and opportunities for players to exchange loyalty points for tickets. The series includes stops in Las Vegas, Canada, and the East Coast, enhancing player engagement while reinforcing the company's commitment to its gaming community.

PLAYSTUDIOS (NASDAQ: MYPS) has partnered with Big Bus Tours to offer exclusive rewards experiences through its playAWARDS loyalty platform starting May 27. Players can exchange loyalty points for discounted tickets to Big Bus Tours in Las Vegas, featuring a hop-on, hop-off service showcasing the city's attractions. This partnership aims to enhance the rewards portfolio with a range of sightseeing experiences, complementing existing offerings in hotel, dining, and entertainment.

PLAYSTUDIOS, Inc. (NASDAQ: MYPS) announced the results of its offer to purchase outstanding public and private placement warrants at $1.00 each. The offer expired on May 13, 2022, resulting in 1,792,463 public warrants tendered, representing about 25% of the total, while no private placement warrants were submitted. Consequently, the Warrant Amendment to redeem warrants at $0.90 was not approved. The total cash payment for the tendered public warrants will be $1,792,463, to be disbursed promptly.