Playtika Holding Corp. Stock Price, News & Analysis

Playtika Holding Corp. (NASDAQ: PLTK) has made a revised non-binding proposal to acquire Rovio Entertainment Corporation for EUR 9.05 per share, a 55% premium over Rovio’s closing price on January 18, 2023. This updated offer exceeds the initial EUR 8.50 proposal submitted on November 16, 2022. The proposal is contingent on customary conditions, including satisfactory due diligence and recommendation from Rovio’s Board. Playtika believes that leveraging Rovio’s intellectual property and user base alongside its monetization expertise will create significant value for shareholders. However, no definitive agreement has been established, and the transaction's completion is uncertain.

Joffre Capital announced its inability to proceed with the pre-closing of a stock purchase agreement to acquire 106,102,467 shares of Playtika (PLTK) due to governance issues within the company. Co-Founder James Lu resigned from the Board, citing significant governance deficiencies, lack of Board responsiveness, and conflicts of interest due to management control. Lu expressed disappointment over the halted acquisition, emphasizing the Board's failure to address critical governance practices. Joffre is now seeking to recover its initial payment related to the agreement.

Playtika Holding Corp. (NASDAQ: PLTK) announced an extension for its Option Exchange offering period from December 12, 2022, to December 15, 2022, allowing eligible service providers to exchange stock options for restricted stock units. To date, 7,436,975 options have been tendered for this exchange. The terms of the exchange remain unchanged, and no recommendation has been made regarding participation. Potential risks related to the Option Exchange include timing uncertainties and possible impacts on the company's operations and relationships.

Playtika Holding Corp. (NASDAQ: PLTK) reported third quarter 2022 revenue of $647.8 million, a 1.9% increase from the previous year. The casual portfolio grew by 14.4%, now representing 54.9% of total revenue, while the social casino portfolio declined by 10.2%. Net income dropped to $68.2 million from $80.5 million year-over-year, with adjusted EBITDA at $230.7 million. The company purchased $600 million in shares, reducing outstanding shares by 51.8 million.

Looking ahead, Playtika anticipates full year 2022 revenue to be between $2.60 and $2.66 billion.

Playtika Holding Corp. (NASDAQ:PLTK) will announce its third quarter 2022 financial results on November 8, 2022, before U.S. markets open. A conference call to discuss these results is scheduled for 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) on the same day. Investors can access a live webcast of the call and earnings materials on Playtika's Investor Relations website. Founded in 2010, Playtika is a leader in mobile gaming and offers a diverse portfolio of game titles.

Playtika Holding Corp. (NASDAQ: PLTK) has concluded its tender offer to buy back 51,813,472 shares at $11.58 each, totaling $600 million. The offer, which finished on October 3, 2022, saw significant interest, with 73,905,922 shares tendered. As a result, Playtika purchased approximately 70.1% of the shares tendered. Following this transaction, the company will have around 360,922,005 shares outstanding. The tender offer was managed by American Stock Transfer & Trust Company, LLC, with D.F. King & Co. serving as the information agent.

Playtika Holding Corp. (NASDAQ: PLTK) announced preliminary results of its tender offer to purchase up to 51,813,472 shares at $11.58 each, totaling about $600 million. The tender offer, which expired on October 3, 2022, saw 74,041,076 shares tendered. Due to oversubscription, approximately 69.98% of shares will be accepted on a pro rata basis. After the purchase, Playtika expects about 360,922,005 shares outstanding. This offer reflects a significant commitment to returning capital to shareholders amidst ongoing market challenges.

Playtika Holding Corp. (NASDAQ: PLTK) has announced the extension of its tender offer to purchase up to 51,813,472 shares of its common stock at a price of $11.58 per share. The new expiration date for the tender offer is October 3, 2022. As of now, approximately 217,149,286 shares have been validly tendered. The terms and conditions of the offer remain unchanged, and no recommendations regarding participation are made by Playtika's management or Board of Directors.

Playtika Holding Corp. (NASDAQ: PLTK) provided an update on its tender offer for up to 51,813,472 Shares at $11.58 each. As of September 22, 2022, approximately 217,140,286 Shares had been validly tendered. The offer, which expires on September 26, 2022, is not contingent on a minimum number of Shares being tendered. The controlling stockholder group is required to tender at least 211,711,155 Shares. The company emphasizes that it does not recommend participation in the tender offer. More details are available through the SEC filings.