Playtika Holding Corp. Stock Price, News & Analysis

Playtika acquires Reworks Oy, maker of the successful Design Entertainment app, Redecor, for $400 million, with an additional potential $200 million based on future EBITDA. Redecor ranks as the #2 Design app by in-app purchase revenue, capitalizing on a booming Design category which has seen a 33% annual growth in revenue. The acquisition aligns with Playtika's strategy to expand into digital design spaces, accessing a large community of design enthusiasts similar to its existing user base of 36 million monthly active users, and is expected to contribute approximately $30 million to Playtika's 2021 revenue.

Playtika Holding Corp. (NASDAQ: PLTK) reported second quarter 2021 revenues of $659.2 million, a slight increase from $650.5 million year-over-year, driven solely by organic growth. The company achieved a net income of $90 million, recovering from a loss of $139.6 million in the previous year. Adjusted EBITDA was $264.4 million, down from $283.2 million. Playtika ended with $1.18 billion in cash and cash equivalents and over $1.7 billion in total liquidity. Looking ahead, they anticipate $2.60 billion in total revenue for 2021.

Playtika Holding Corp. (NASDAQ:PLTK) will announce its second quarter 2021 financial results on August 4, 2021, before U.S. markets open. A conference call with management will take place at 5:30 a.m. PT (8:30 a.m. ET) on the same day. Investors can access the live webcast and earnings release materials on Playtika’s Investor Relations website. As a prominent mobile gaming company, Playtika boasts over 31 million monthly active users and operates worldwide with over 3,700 employees.

Playtika Announces New CTO Appointment

On June 17, 2021, Playtika Holding Corp. (NASDAQ:PLTK) appointed Erez Rachmil as Chief Technology Officer. Rachmil, who has been with Playtika for over seven years, previously served as Senior Vice President of R&D for the Casual games division, which reported a 30% revenue increase year-over-year in Q1 2021. He will lead the company’s technology roadmap, succeeding Ira Holtzer, who transitions to EVP Strategic Technologies. With a robust background in technology and IT, Rachmil aims to strengthen Playtika’s growth and expansion in the gaming industry.

Playtika Holding Corp. (NASDAQ:PLTK) announced its participation in upcoming virtual investor conferences. Craig Abrahams, the company’s President and CFO, will present fireside chats at various conferences:

• Goldman Sachs Virtual 6th Annual Credit and Leveraged Finance Conference on May 17, 2021 at 9:00 a.m. PT.
• Morgan Stanley Life After Covid: 2021 Thematic Conference on May 18, 2021 at 10:30 a.m. PT.
• Cowen’s 49th Annual Technology, Media & Telecom Conference on June 1, 2021 at 9:30 a.m. PT.
• Nasdaq 44th Virtual Investor Conference on June 17, 2021 at 9:00 a.m. PT.

Live webcasts and replays will be available on Playtika’s Investor Relations webpage.

Playtika Holding Corp. (NASDAQ: PLTK) reported a 19.6% increase in first-quarter revenue, reaching $638.9 million compared to $534.2 million in the same period last year. Net income remained stable at $35.7 million, with an Adjusted EBITDA of $258.0 million, up from $186.1 million. The company's liquidity stood over $1.5 billion, bolstered by a recent refinancing of Term Loan B, expected to save $80 million annually. Playtika raised its full-year outlook to $2.6 billion in revenue, enhancing confidence in its robust growth strategy.

Playtika Holding Corp. (NASDAQ:PLTK) will announce its Q1 2021 financial results on May 11, 2021, before U.S. market opening. A conference call will follow at 5:30 a.m. PT (8:30 a.m. ET) to discuss the results. Investors can access a live webcast and earnings materials on Playtika’s Investor Relations website. Headquartered in Herzliya, Israel, Playtika is a leading mobile gaming company with over 31 million monthly active users and a diverse game portfolio, founded in 2010.

Playtika Holding Corp. (NASDAQ:PLTK) announced a significant refinancing initiative, securing a new $1.9 billion Term Loan B and $600 million in senior unsecured notes. This move aims to replace its existing $2.375 billion Term Loan B and enhance liquidity. The refinancing is expected to save the company over $80 million in annual cash interest, bolstering net income and free cash flow. Combined with IPO proceeds, Playtika boasts approximately $1.5 billion in available liquidity for growth investments and potential acquisitions.

Playtika Holding Corp. (NASDAQ:PLTK) announced the pricing of its offering of $600 million in senior notes due 2029 at a fixed interest rate of 4.250%. The offering is set to close on March 11, 2021, subject to usual conditions. Proceeds will be used to repay existing borrowings and cover associated fees. The notes will not be registered under U.S. securities laws and will only be offered to qualified institutional buyers. Playtika, a mobile gaming leader, boasts over 35 million monthly active users and has a robust employee presence across 19 global offices.