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Playstudios Inc (MYPS) is a leader in social gaming innovation, combining free-to-play mechanics with real-world loyalty rewards. This page serves as the definitive source for official company announcements and financial updates.
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PLAYSTUDIOS (Nasdaq: MYPS) announced an agreement to repurchase 11,677,398 shares of its Class A common stock from Microsoft at $2.11 per share. The total cost will be $24.6 million, funded by available cash. This transaction will reduce the outstanding shares by approximately 8.6%. CEO Andrew Pascal emphasized that this move aligns with the company's commitment to enhancing shareholder value and maximizing returns on capital, noting the shares were bought at a discount to current market prices.
PLAYSTUDIOS (Nasdaq: MYPS), known for its playAWARDS loyalty platform and free-to-play mobile and social games, announced the repurchase of 11,677,398 shares of its Class A common stock from Microsoft Shares were bought at $2.11 each, totaling $24.6 million, funded with available cash. This move reduces PLAYSTUDIOS' outstanding common stock by approximately 8.6%. Chairman and CEO Andrew Pascal stated that the repurchase aligns with the company's commitment to enhancing shareholder value and maximizing returns on capital, highlighting the acquisition at a discount to current market prices.
playSTUDIOS (NASDAQ: MYPS) celebrates Tetris' 40th anniversary with new releases: Tetris Block Puzzle and an updated Tetris mobile game. These releases enhance gameplay with new features and player rewards, aligning with the company's strategy to innovate classic games.
The Tetris Block Puzzle introduces two modes: Adventure Mode and High-Score Mode, catering to casual gamers. The updated Tetris mobile game includes Marathon and Adventure Modes. Both games are integrated with the myVIP loyalty program, allowing players to earn and redeem real-world rewards.
playSTUDIOS secured global rights to Tetris in 2021 and extended its publishing deal, positioning itself for continued growth in the mobile gaming market. The games are available for free download on iOS and Android.
PLAYSTUDIOS, Inc. announced Q1 results with revenue of $77.8M, a net loss of $0.6M, and consolidated AEBITDA of $15.3M. Despite some declines, the company remains optimistic about strategic initiatives and long-term growth. Positive highlights include strong performances from casual games like Tetris and Brainium, plans for expanding Tetris into a multi-game franchise, and progress in integrating playAWARDS loyalty platform. The company also resumed stock repurchases and has a strong cash position for acquisitions. However, there were year-over-year revenue declines and lower AEBITDA compared to the previous year. The company is maintaining its full year guidance with net revenue in the range of $315 to $325 million and Consolidated AEBITDA in the range of $65 to $70 million.
