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 (Nasdaq: MYPS) announced it will release Q1 2022 results on May 5, 2022, after market close. A conference call and audio webcast will occur at 5:00 PM Eastern Time on the same date to discuss the results. The investors can access the audio webcast via the PLAYSTUDIOS investor relations website. An audio replay will be available for one year post-call. The company is known for its innovative loyalty marketing platform playAWARDS, offering players real-world rewards from various global brands.
Stephen J. Cloobeck, a major shareholder in Playstudios, has called for the removal of Chairman and CEO Andrew Pascal, citing significant shareholder value erosion and management failures. Cloobeck points to unmet revenue projections, with 2021 revenues at $287 million compared to the expected $328 million, and lowered 2022 guidance of $305 million to $325 million. He criticizes Pascal for mismanagement, including a costly buyback of underwater warrants and failure to deliver on product promises, notably the shelved Kingdom Boss game. Cloobeck urges the Board to act and replace Pascal for better future performance.
PLAYSTUDIOS (NASDAQ: MYPS) announced an offer to buy back all outstanding public and private placement warrants for $1.00 each, aiming to streamline its capital structure. The company also seeks consent to amend the Warrant Agreement dated October 22, 2020, allowing it to redeem each warrant for $0.90, a 10% decrease from the offer price. The offer, valid until April 29, 2022, is not contingent on a minimum number of warrants being tendered. As of March 31, 2022, 10,996,631 warrants were outstanding. The company engaged PJT Partners as Dealer Manager for this initiative.
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PLAYSTUDIOS (NASDAQ: MYPS) reported fourth quarter 2021 revenue of $71.9 million, up 12.4% year-over-year, driven by new game launches and increased ad revenue. The company's net income improved to $0.6 million from a $10.8 million loss in Q4 2020. Full year revenue reached $287.4 million, a 6.5% increase, but net income decreased to $10.7 million from $12.8 million. The company expects 2022 revenue between $305 million and $325 million. PLAYSTUDIOS also secured rights to the Tetris franchise and launched MGM Slots Live.
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PLAYSTUDIOS, Inc. (Nasdaq: MYPS) announced it will release its fourth quarter and year-end 2021 results on February 24, 2022, after market close. A conference call and audio webcast will follow at 5:00 pm Eastern Time the same day to discuss the results. Participants can access the event through the PLAYSTUDIOS investor relations website or dial in directly. An audio replay will be available for one year post-call. PLAYSTUDIOS develops award-winning mobile and social games that offer real-world rewards through its playAWARDS loyalty platform.
PLAYSTUDIOS (Nasdaq: MYPS) has announced its expansion into the casual puzzle genre by becoming the exclusive developer and publisher of the iconic Tetris game franchise for mobile devices. This strategic partnership with The Tetris Company and N3TWORK grants PLAYSTUDIOS global mobile rights, excluding China. The new game will integrate the playAWARDS loyalty program, enhancing player engagement. The current Tetris mobile app has over 30 million downloads, providing a base to grow PLAYSTUDIOS' audience.
PLAYSTUDIOS, a mobile and social game developer, has launched a new game called Money Blast for its myKONAMI Slots app. This game features retro graphics and classic gameplay, appealing to both slot enthusiasts and casual players. CEO Andrew Pascal noted that this title was in high demand among players. The game integrates the myVIP rewards program, allowing users to earn loyalty points for real-world rewards. PLAYSTUDIOS' games are available for download on major platforms including iOS, Android, and Kindle.
PLAYSTUDIOS (Nasdaq: MYPS) announces the launch of its first mobile board game, New York-New York Game Night, exclusively for its myVEGAS Slots app. This new game immerses players in a 1930s New York theme, allowing them to earn loyalty points and real-world rewards as they navigate a virtual board. Players can unlock jackpots, win mystery prizes, and enjoy additional in-app features while engaging with beloved classic board games. The loyalty program enables players to redeem points for rewards from over 275 brands, enhancing the gaming experience.