Playstudios Inc Stock Price, News & Analysis

PLAYSTUDIOS has partnered with Lighthouse Immersive to enhance its playAWARDS loyalty program, starting with the Immersive Van Gogh exhibit in Las Vegas. Players can now redeem loyalty points for tickets to this unique experience, which utilizes advanced projection technology to showcase the artist's works. The exhibit operates in 14 cities across the U.S. and Canada, aiming to attract a new audience to the arts. This partnership expands PLAYSTUDIOS' offerings alongside renowned brands like MGM and Wolfgang Puck.

PLAYSTUDIOS (NASDAQ: MYPS) has announced an extension of its warrant purchase offer deadline to May 13, 2022, allowing holders more time to participate. The offer encourages the purchase of outstanding public and private placement warrants at $1.00 each. Additionally, the company is seeking consents to amend the Warrant Agreement, permitting a cash redemption of warrants at $0.90, a decrease from the offer price. As of April 27, 2022, 33,606 public warrants were tendered, while no private placement warrants were submitted.

PLAYSTUDIOS (Nasdaq: MYPS) announced it will release Q1 2022 results on May 5, 2022, after market close. A conference call and audio webcast will occur at 5:00 PM Eastern Time on the same date to discuss the results. The investors can access the audio webcast via the PLAYSTUDIOS investor relations website. An audio replay will be available for one year post-call. The company is known for its innovative loyalty marketing platform playAWARDS, offering players real-world rewards from various global brands.

Stephen J. Cloobeck, a major shareholder in Playstudios, has called for the removal of Chairman and CEO Andrew Pascal, citing significant shareholder value erosion and management failures. Cloobeck points to unmet revenue projections, with 2021 revenues at $287 million compared to the expected $328 million, and lowered 2022 guidance of $305 million to $325 million. He criticizes Pascal for mismanagement, including a costly buyback of underwater warrants and failure to deliver on product promises, notably the shelved Kingdom Boss game. Cloobeck urges the Board to act and replace Pascal for better future performance.

PLAYSTUDIOS (NASDAQ: MYPS) announced an offer to buy back all outstanding public and private placement warrants for $1.00 each, aiming to streamline its capital structure. The company also seeks consent to amend the Warrant Agreement dated October 22, 2020, allowing it to redeem each warrant for $0.90, a 10% decrease from the offer price. The offer, valid until April 29, 2022, is not contingent on a minimum number of warrants being tendered. As of March 31, 2022, 10,996,631 warrants were outstanding. The company engaged PJT Partners as Dealer Manager for this initiative.

PLAYSTUDIOS (NASDAQ: MYPS) reported fourth quarter 2021 revenue of $71.9 million, up 12.4% year-over-year, driven by new game launches and increased ad revenue. The company's net income improved to $0.6 million from a $10.8 million loss in Q4 2020. Full year revenue reached $287.4 million, a 6.5% increase, but net income decreased to $10.7 million from $12.8 million. The company expects 2022 revenue between $305 million and $325 million. PLAYSTUDIOS also secured rights to the Tetris franchise and launched MGM Slots Live.

PLAYSTUDIOS, Inc. (Nasdaq: MYPS) announced it will release its fourth quarter and year-end 2021 results on February 24, 2022, after market close. A conference call and audio webcast will follow at 5:00 pm Eastern Time the same day to discuss the results. Participants can access the event through the PLAYSTUDIOS investor relations website or dial in directly. An audio replay will be available for one year post-call. PLAYSTUDIOS develops award-winning mobile and social games that offer real-world rewards through its playAWARDS loyalty platform.