Industry News
Playtika Reports Q2 2024 Financial Results
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.
“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
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.
Industry News
Christian Reinhard Becomes New Board Member for Technology and Development at Merkur Group
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.
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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Industry News
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
BlueOcean Gaming has announced that its leading product, GameHub, has won the Best Aggregator 2024 Award at SiGMA East Europe Awards.
“This recognition is a significant milestone for BlueOcean Gaming, highlighting the strength and innovation of GameHub—our leading game aggregation platform. GameHub has set a new standard in the iGaming industry by seamlessly integrating over 140 providers and offering a vast library of more than 13,000 games, including slots, live casino games, virtual sports, and sportsbooks,” the Company said.
“A heartfelt thank you goes out to SiGMA World for acknowledging the hard work and dedication that has gone into making GameHub a standout product. The SiGMA East Europe Awards shines a spotlight on the most impactful projects and the visionaries driving change across the gaming industry, and we are incredibly honored to be a part of this movement.
“This achievement wouldn’t have been possible without the support of our amazing partners and clients, whose trust motivates us to continuously innovate. Most importantly, a huge round of applause goes to the entire BlueOcean Gaming team. Your dedication and passion for delivering top-tier, trustworthy solutions are the driving force behind this success.
“As we celebrate this incredible win, let this award be a source of inspiration, pushing us to aim even higher, continue our journey of innovation, and reach greater heights in the iGaming industry.
“We look forward to what’s ahead and to continue providing our partners and clients with the best solutions available in the market.”
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Industry News
CT Interactive to Showcase Latest Solutions at SBC Summit in Lisbon
CT Interactive, a renowned provider of online gaming solutions, is set to exhibit at this year’s SBC Summit in Lisbon, which will take place from 24 to 26 September at the FIL Exhibition Centre. As part of its presence at the premier industry event, CT Interactive will have an exclusive stand where the company will showcase its latest products.
The SBC Summit brings together leaders from the iGaming industry to explore the most significant market trends and developments. CT Interactive’s stand #A230 will feature a live demonstration of its latest gaming portfolio, including its most recent game releases and customisable solutions that cater to operators’ needs. The company’s team of experts will be on hand to explain how it’s portfolio can help operators boost player engagement and retention.
“We are thrilled to be part of the SBC Summit this year. This event is an excellent opportunity for us to connect with potential partners and showcase our latest innovations, games and bonus mechanics which give the players more control and enhance the overall player experience and winning opportunities. We are excited to present our solutions to both core and new clients, highlighting our dedication to delivering engaging and forward-thinking products on the market,” said Monika Zlateva, CCO of CT Interactive.
Visitors to CT Interactive’s stand will also have the chance to explore the company’s advanced gaming features, such as jackpots, free spins and bonus tools. Additionally, the company will unveil its new strategic partnership with GameWorkz, a provider of social gaming solutions that will present its solutions on CT Interactive’s stand at the show. GameWorkz offers a player management platform where clients can integrate various components, including third-party services and proprietary technology utilising a fully functioning social gaming product complete with gamification tools and a loyalty programme designed to meet the needs and expectations of social players.
“With our participation in SBC Lisbon, we aim to reinforce our position as a global leader in online gaming, forging new partnerships and expanding influence within the rapidly evolving industry,” said Antonio Donov, Senior Business Development Manager EMEA and Asia.
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