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Playtika Holding Reports Q1 2023 Financial Results
Playtika Holding Corp. has released its financial results for the first quarter of 2023.
Financial Highlights:
- Revenue of $656.2 million increased 4.0% sequentially and decreased (3.1)% year over year.
- DTC platforms revenue of $151.5 million increased 0.9% sequentially and decreased (0.6)% year over year.
- Net income of $84.1 million decreased (3.9)% sequentially and increased 1.1% year over year.
- Credit Adjusted EBITDA of $222.7 million increased 9.9% sequentially and 12.8% year over year.
- Cash and cash equivalents totaled $767.2 million as of March 31, 2023.
Robert Antokol, Chief Executive Officer of Playtika, said: “Playtika continues to deliver personalized immersive entertainment experiences enjoyed by millions of players each day across our diverse portfolio of games. Our unrivaled LiveOps expertise along with our robust tech stack, including our AI powered Digital Studio, delivers unique capabilities to drive efficiencies and optimize the player experience, resulting in increased conversion and organic, sequential growth.”
Craig Abrahams, President and Chief Financial Officer of Playtika, said: “The strategic decisions we made last year propelled us to enhance our margin profile while growing revenues sequentially. We will continue to efficiently invest in our technology while maximizing ROI across our portfolio, positioning ourselves to outperform in the years to come.”
Selected Operational Metrics and Business Highlights
- Average Daily Paying Users of 326K increased 4.2% sequentially and 0.9% year over year.
- Average Payer Conversion of 3.6%, up from 3.5% in the prior quarter and 3.2% in the prior year period.
- Casual games revenue increased 7.1% sequentially and 4.1% year over year.
- Social casino-themed games revenue increased 0.3% sequentially and decreased (11.0)% year over year.
- Bingo Blitz revenue of $159.2 million increased 2.6% sequentially and 13.0% year over year.
- Solitaire Grand Harvest revenue of $85.5 million increased 17.4% sequentially and 29.0% year over year.
- Slotomania revenue of $146.6 million decreased (1.7)% sequentially and (12.1)% year over year.
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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