Welcome to our dedicated page for Playstudios news (Ticker: MYPS), a resource for investors and traders seeking the latest updates and insights on Playstudios stock.
PLAYSTUDIOS, Inc. develops and publishes free-to-play mobile and social games and reports on player monetization, direct-to-consumer revenue, and conditions in the social casino and casual game markets. Its portfolio includes the Tetris mobile app, Solitaire, Spider Solitaire, Sudoku, myVEGAS Slots, myVEGAS Blackjack, myVEGAS Bingo, POP! Slots, MGM Slots Live, and myKONAMI Slots.
Company updates also cover the playAWARDS and myVIP loyalty platforms, which allow players to earn real-world rewards from hospitality, entertainment, and leisure partners. Recurring themes include sweepstakes-enabled gaming initiatives, casual puzzle development such as Tetris Block Party, cost-reduction actions, platform economics, and player events such as the myVIP World Tournament of Slots.
PLAYSTUDIOS, Inc. (MYPS) has appointed Mickey Sonnino as Chief Operating Officer, effective immediately. Sonnino, based in Tel Aviv, brings over 20 years of experience in gaming and consumer marketing, previously serving as Senior Vice President at Playtika. Her responsibilities will include overseeing operations across the Americas, Middle East, Europe, and Asia. CEO Andrew Pascal emphasized her expertise will enhance the company's performance and innovation in the gaming industry. PLAYSTUDIOS is known for its popular games like Tetris and myVEGAS, integrating real-world rewards through its playAWARDS loyalty platform.
PLAYSTUDIOS (NASDAQ: MYPS) has expanded its vacation rewards by adding three stunning Hilton Caribbean properties to its industry-leading Rewards Store. The new offerings include the Hilton Barbados Resort, Hilton Tulum Riviera Maya, and Conrad Tulum Riviera Maya Resort, where players can redeem loyalty points for free night stays and up to $100 in resort credits. This initiative aims to enhance player engagement by providing fresh vacation destinations, aligning with feedback received from the community. This step comes as part of PLAYSTUDIOS' growth strategy in 2023.
PLAYSTUDIOS has launched its first retail rewards partnership with Pacific Cycle, allowing players to redeem points for discounts on bicycles, eBikes, and scooters priced between $200 and $2,000. This initiative aims to enhance player engagement by offering real-world rewards through the playAWARDS loyalty platform. Starting December 15, U.S. players can access this new offering, joining over 12 million monthly users who can earn points through popular games like Tetris® and myVEGAS Blackjack. This partnership signifies a strategic expansion into the retail sector for PLAYSTUDIOS.
PLAYSTUDIOS, Inc. (NASDAQ: MYPS) reported a Q3 2022 revenue of $72.1 million, up from $70.6 million in Q3 2021. However, net income fell to $3.6 million from $11.2 million year-over-year. The company achieved an adjusted EBITDA of $9.8 million, slightly higher than $9.6 million in the previous year. Following the acquisition of Brainium, PLAYSTUDIOS expects full-year 2022 revenue between $275.0 million and $285.0 million, and EBITDA between $32.0 million and $35.0 million.
PLAYSTUDIOS (Nasdaq: MYPS) will release its third quarter 2022 results after the market closes on November 8, 2022. A conference call and audio webcast will follow at 5:00 pm Eastern Time on the same day to discuss the results. Interested parties can access the webcast on the PLAYSTUDIOS investor relations site or by phone. An audio replay will be available on the website for one year.
PLAYSTUDIOS is known for its playAWARDS loyalty platform and popular mobile games, including Tetris® and myVEGAS titles, offering players real-world rewards.
PLAYSTUDIOS (NASDAQ: MYPS) has announced its acquisition of Brainium for $70 million in cash, with additional performance-based payments. This acquisition enhances PLAYSTUDIOS' game portfolio by adding popular titles like Solitaire and Sudoku, and more than doubles its average daily active users, expanding the reach of its playAWARDS loyalty platform. The acquisition is poised to diversify PLAYSTUDIOS' revenue streams by incorporating advertising revenue alongside in-app purchases.
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.