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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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ZEAL Network CEO Helmut Becker Will Not Extend His Contract Beyond January 2026

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Dr. Helmut Becker, CEO of ZEAL Network, has informed the Supervisory Board of the company of his decision not to extend his contract, which runs until January 31, 2026. The 56-year-old has decided to pursue his own entrepreneurial activities in the future after many years as a top manager. Dr Becker will then leave the company after more than twelve years on the Executive Board of ZEAL Network SE, including more than ten as CEO. He will remain fully committed to ZEAL as CEO until the end of his contract term and will ensure a smooth transition of his duties to a successor.

“ZEAL is in an excellent position to continue to grow in the future. After almost ten years as CEO, I have decided that now is the right time to pursue my own entrepreneurial endeavours. This has been a difficult decision for me. I will especially miss our exceptionally strong team and the unique culture we have built together, characterised by innovation, customer focus and team spirit. I will continue to work hard until the end of my term to achieve the goals we have set together,” said Dr Becker.

Dr Becker informed the Supervisory Board of ZEAL Network SE about his decision at an early stage, and the Supervisory Board will immediately initiate a structured process for the succession of the CEO.

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Peter Steiner, Chairman of the Supervisory Board, said: “The Supervisory Board of ZEAL Network SE has noted with great regret Helmut Becker’s decision not to seek a contract extension. Helmut Becker has played a decisive role in taking ZEAL’s business development to a new level. Under his leadership, ZEAL has established itself as a market leader in the online lottery market, significantly expanded its customer base and crucially broadened its offering through innovative product development. On behalf of the Supervisory Board, I would like to thank him for his outstanding commitment and strategic vision. We wish him all the best for his personal life and professional career.”

Dr Becker has been CEO of ZEAL Network since September 1, 2015, after serving as Chief Marketing Officer (CMO) for over two years. Prior to joining the Executive Board, he was a member of the Supervisory Board of ZEAL for two years. Previously, he served as Chief Commercial Officer on the Management Board of XING AG and held various management positions at eBay Germany and as a management consultant at McKinsey. As CEO, Dr Becker was responsible for the acquisition of LOTTO24 AG, the return of ZEAL to Germany and the expansion of the portfolio to include freiheit+, Games and Traumhausverlosung.

The post ZEAL Network CEO Helmut Becker Will Not Extend His Contract Beyond January 2026 appeared first on European Gaming Industry News.

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Gamblorium Enhances Casino Reviews with Updated Rating System

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Gamblorium, a trusted online casino affiliate platform, announces its new and improved casino rating system. This updated system is designed to give players even more accurate and transparent rankings for online casinos. Since 2020, Gamblorium has been known for providing honest and expert-tested casino reviews. With this updated rating system, Gamblorium continues to ensure players can easily find the best gambling sites.

The new rating system combines three key components: Gamblorium Score, Player Score and Market Score. These scores are based on a 100-point scale, providing players with a clear and reliable way to choose casinos that meet their preferences.

Main features of Gamblorium’s new rating system:

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• Gamblorium score: The Gamblorium Score evaluates casinos based on over 100 criteria, including payment methods, game options, security and user experience. Unlike other platforms, Gamblorium uses a relative and flexible approach, meaning casinos are ranked based on their strengths within their market. This score also incorporates Expert Scoring, ensuring that the most important factors are weighted appropriately.

• Player score: The Player Score is based on feedback from real users. Players can leave reviews only if they have registered or played at the casino, ensuring honest and up-to-date feedback. This makes the reviews highly reliable and reflective of the actual player experience.

• Market score: The Market Score helps balance the overall rating by considering the views of other trusted gambling platforms. This adds another layer of objectivity and ensures that Gamblorium’s reviews remain fair and unbiased.

The post Gamblorium Enhances Casino Reviews with Updated Rating System appeared first on European Gaming Industry News.

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CT Interactive Appoints Dimitar Raychev as Technical Support Specialist for Online Services

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CT Interactive has appointed Dimitar Raychev as Technical Support Specialist for Online Services.

Over the years, Dimitar has worked with various platforms such as AWS, Active Directory and SAP, allowing him to acquire deep knowledge and skills in managing infrastructures and automating processes. Thanks to his expertise, he has helped many organisations optimise their systems and maintain high levels of efficiency.

“We are thrilled to welcome Dimitar Raychev to the CT Interactive team, where he will take on the role of Technical Support Specialist for Online Services. Dimitar brings extensive experience in providing technical support to global clients, successfully diagnosing and resolving issues with software, hardware and network systems. His commitment to quality service and the technical skills he possesses make him a valuable asset. We look forward to leveraging his knowledge and continuing to provide our clients with impeccable service and support,” the company said.

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The post CT Interactive Appoints Dimitar Raychev as Technical Support Specialist for Online Services appeared first on European Gaming Industry News.

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