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Playtika Reports Q2 2024 Financial Results

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Playtika Holding Corp. released financial results for its second quarter for the period ending June 30, 2024.

Financial Highlights

Revenue of $627.0 million decreased (3.7)% sequentially and (2.5)% year over year.
DTC platforms revenue of $173.7 million increased 1.3% sequentially and 5.1% year over year.
Net income of $86.6 million increased 63.4% sequentially and 14.4% year over year.
Credit Adjusted EBITDA of $191.0 million increased 2.9% sequentially and decreased (11.2)% year over year.
Cash, cash equivalents, and short-term investments totaled $1.1 billion as of June 30, 2024.

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“We are focused on the resilience and potential of our leading games and our strategic initiatives aimed at revitalizing our portfolio. We are actively pursuing opportunities to broaden our game offerings through M&A. Our focus is on identifying studios that complement our existing games and drive long-term value,” said Robert Antokol, Chief Executive Officer.

“Our focus on our direct-to-consumer business and our highly disciplined approach to managing operating expenses has led to a notable improvement in our margins on a sequential basis. We are taking steps to ensure sustained growth and profitability and we remain committed to delivering long-term value to our players and shareholders, our focus on execution remains unwavering,” said Craig Abrahams, President and Chief Financial Officer.

Selected Operational Metrics and Business Highlights

Average Daily Paying Users of 298K decreased (3.6)% sequentially and (2.9)% year over year.
Average Payer Conversion of 3.7%, up from 3.5% in Q1 and 3.6% in Q2 2023.
Casual games revenue decreased (4.3)% sequentially and (1.7)% year over year.
Social casino-themed games revenue decreased (2.9)% sequentially and (3.4)% year over year.
Bingo Blitz revenue of $155.7 million decreased (1.2)% sequentially and (0.4)% year over year.
June’s Journey revenue of $74.6 million decreased (2.6)% sequentially and increased 1.9% year over year.
Slotomania revenue of $133.8 million decreased (1.2)% sequentially and (7.5)% year over year.

Playtika Announces Quarterly Dividend

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Playtika’s Board of Directors declared a cash dividend of $0.10 per share of the outstanding common stock, payable on October 4, 2024 to stockholders of record as of the close of business on September 20, 2024. Future dividends are subject to market conditions and approval by the Board of Directors.

Financial Outlook

For the full year 2024 the company expects revenue to be toward the bottom end of the previously provided range of $2.52 – $2.62 billion, Credit Adjusted EBITDA to be in the middle of the previously provided range of $730 – $770 million and capital expenditures to be within a range $95 – $100 million.

The post Playtika Reports Q2 2024 Financial Results appeared first on European Gaming Industry News.

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Play’n GO Honoured at Corporate Star Awards Ceremony

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Play’n GO, the world’s leading casino entertainment provider, was honoured as a global leader in Environmental Social Governance (ESG) practices at the prestigious Corporate Star Awards held in Amsterdam. The company was the only iGaming company shortlisted at the ceremony, and was nominated for the Best ESG Report award, placing it among renowned organisations such as Globo, EVS and SONY Entertainment, who won the category overall.

The Corporate Star Awards are known for recognising excellence in corporate reporting and sustainability, and Play’n GO’s nomination for the Best ESG Report Award is testament to its commitment to transparency and responsible business practices.

Play’n GO’s ESG Report provides comprehensive insights into the company’s environmental initiatives, social impact and governance practices, and showcases Play’n GO’s commitment to reducing its carbon footprint, promoting diversity and inclusion, and maintaining high ethical standards throughout its operations.

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The Corporate Star Awards recognise organisations that go above and beyond in their commitment to ESG practices, setting a benchmark for corporate responsibility. Play’n GO’s inclusion among the shortlisted companies underscores its position as a global leader in the iGaming industry and its dedication to sustainable business practices.

Johan Törnqvist, CEO and co-founder of Play’n GO, said: “We are truly honoured to be recognized as a global ESG leader at the Corporate Star Awards. This nomination is a testament to our unwavering dedication to sustainability and responsible business practices. We believe that a strong ESG framework is essential for the long-term success of any organization, and we are proud to be at the forefront of this movement. We look forward to participating in next year’s awards, and to furthering our own ESG initiatives.”

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Amusnet Releases Speed Baccarat, a New Addition to its Live Casino Portfolio

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Amusnet is presenting its newest Live Casino release – a fresh look and feel for a true casino classic that has become one of the most popular card games – Speed Baccarat.

The latest addition to the company’s portfolio mesmerises with Asian elegance and promises a lifelike gaming experience to anyone who wants to have a taste of this all-time casino favourite. Fast rounds are available, which adds to the excitement and thrill which the game brings.

Amusnet’s Speed Baccarat is played with eight standard decks of 52 cards, and it is available 24/7 with a live dealer hosting the game. It offers immersive real-time streaming with ultra-low latency. The objective of this Live Casino game is to predict the winning hand closest to 9, which could be the Player’s hand, the Dealer’s hand or there could be a Tie.

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A variety of Main bets and Side bets is available, along with several in-game features to guarantee an engaging and thrilling gameplay, such as Re-bet, Double the Bet, Scoreboards and Game Statistics. A live Chat is also at players’ disposal, providing them with the chance to communicate with the dealer and the rest of the players.

Jackpot Cards
The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.

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Christian Reinhard Becomes New Board Member for Technology and Development at Merkur Group

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The Merkur Group has welcomed Mr. Christian Reinhard as the new Board Member for Technology and Development. Reinhard, a 50-year-old computer science graduate, succeeds Werner Kurt Schroer, who resigned from his position on the Board for health reasons after almost 19 years of successful service, but will continue to be available to the Group as an advisor.

“We would like to thank Mr. Schroer for the extraordinarily successful years we have spent together. At the same time, we are delighted to welcome Mr. Reinhard to the board of directors. By appointing Mr. Reinhard as the board member responsible for technology and development, we are ensuring continuity in the area of development that is so important for the group of companies, while also creating space for fresh ideas. We wish Mr. Reinhard every success in his new role and always the necessary bit of luck,” said company founder and board spokesman Paul Gauselmann.

Christian Reinhard has over 20 years of experience in the series development of automotive electronics. In his career to date, he has developed a wide range of technologies, including navigation systems, cluster instruments, driver assistance systems and vehicle networking systems, which are now installed in numerous vehicles worldwide.

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In addition to his technical expertise, Reinhard has more than 15 years of experience in managing and structuring internationally distributed development teams, such as those in the Merkur Group. Most recently, he was responsible for a team of 3500 developers and played a key role in the development and release of safety-critical systems that, like the vending machine industry, are subject to strict regulatory requirements.

Christian Reinhard said: “After dedicating my 23-year career to developing high-quality mobility experiences, I am looking forward to a new challenge in a dynamic and creative environment. I am particularly fascinated by the gaming industry because of the collaboration between a wide variety of disciplines – art, design, mathematics, programming, data security and electronics development – and the opportunity to create unforgettable moments of entertainment and joy in the game.”

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