Interactive
Israel – Strong performing Playtika considering sell-off
By Phil - 28 February 2022
Following strong Q4 and 2021 results, Israel mobile gaming company Playtika has confirmed it is considering selling the company.
Playtika said: “Board of Directors has initiated a process to evaluate Playtika’s potential strategic alternatives to maximize value for stockholders. As part of the process, the Board intends to consider a full range of strategic alternatives, which could include a sale of the company or other possible transactions.
Playtika chairperson and CEO Robert Antokol added: “The goal of the strategic evaluation process we are announcing today is to ensure we are taking every step possible to maximize value for our stockholders. We have always been focused on growing our core business through our investments in people and technology. I am incredibly proud of our results as a leader in mobile gaming and entertainment.”
2021 revenue grew to $2,583m compared to $2,371.5m in the prior year. Net income grew to $308.5m compared to $92.1m in the prior year. Adjusted EBITDA grew as well to $982.7m compared to $941.6m in the prior year.
The company’s casual portfolio grew revenue 31.5 per cent year-over-year, comprising 51.8 per cent of total revenue. Average Daily Payer Conversion increased to three per cent, up from 2.6 per cent in Q4’20. Direct to Consumer platforms grew to 21.7 per cent of overall revenues in Q4’21, compared with 15.5 per cent in Q4’20. World Series of Poker experienced success in the fourth quarter, growing 7.7 per cent year-over-year, and 7.3 per cent quarter-over-quarter. ore franchise game Bingo Blitz grew 17.7 per cent year-over-year and Caesars Casino celebrated 10-years since release with 7.1 per cent year-over-year growth.
Robert Antokol, Chief Executive Officer stated: “Our fourth quarter results demonstrate the ongoing strength of Playtika and the growth potential of the business. In 2021, we extended our leadership in mobile gaming and expanded our vision to reach beyond games into gamifiable apps with the acquisition of Redecor as the world of games, lifestyle and entertainment converge. In addition, we significantly enhanced our proprietary technological edge including our Boost platform, which continues to be a differentiator for the company. We are excited by the opportunities that Playtika can achieve, and I want to thank our employees for their tireless work and dedication in making this possible.”
Craig Abrahams, President and Chief Financial Officer, added: “Our results exceeded our latest guidance for both revenue and Adjusted EBITDA for the year and January started the year strong. Fourth quarter revenue growth accelerated to 13 per cent year-over-year, driven by sustained execution across our portfolio with our casual games now comprising over 50 per cent of revenue. This was achieved with year-over-year eCPI growth of only 5.8 per cent which demonstrates the strength of our proprietary user acquisition technology helping to continue to support strong margins.”
