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.”

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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.