Playtika Holding Corp. - PLTK STOCK NEWS

Playtika Holding Corp. (NASDAQ: PLTK), a key player in mobile gaming, revealed on January 19, 2023, that it submitted a revised non-binding proposal to acquire Rovio Entertainment Corporation (ROVIO.HE). Following this, Rovio announced on February 6, 2023, its decision to start a strategic review and engage in preliminary discussions with interested parties, including Playtika. However, these preliminary discussions have now concluded without a definitive outcome.

Best Fiends, developed by Playtika's studio Seriously, has launched a daring national campaign targeting its biggest competitor in the puzzle game market. The campaign encourages players to break free from old gaming habits and embrace Best Fiends as their new favorite. With over one million daily active users and 96 million downloads since 2014, Best Fiends features over 7,000 levels and unique characters. The campaign includes three comedic videos showcasing its characters in relatable scenarios. Playtika aims to position Best Fiends as a bold contender in the casual gaming sector, emphasizing its creative marketing strategy.

Playtika (NASDAQ:PLTK) has announced new senior appointments to enhance its growth strategy. Gili Brudno will serve as Chief Human Resources Officer, focusing on global HR strategies and employee experience. She brings significant experience from BioCatch and SAP, among others. Darlan Monterisi has been appointed Executive Vice President and Global Head of Communications, overseeing corporate communications and reputation management. Monterisi has over 20 years of experience in various roles, including with Dataminr and the U.S. Marine Corps. These appointments aim to strengthen Playtika’s position in the mobile gaming sector.

Playtika Holding Corp. (NASDAQ: PLTK) reported its Q4 2022 and full-year financial results, achieving a 1.3% increase in annual revenue at $2.615 billion. Q4 revenue was $631.2 million, down 2.7% year-over-year, with direct-to-consumer platforms revenue showing a 6.6% increase to $150.2 million. Net income fell to $87.5 million from $102.3 million in the previous year. The Credit Adjusted EBITDA was $202.6 million, up 15%. For FY23, the company expects revenue between $2.570-$2.620 billion. Total cash as of Dec 31, 2022, was $768.7 million.

On February 7, 2023, Playtika Holding Corp. (NASDAQ:PLTK) announced it will release its financial results for the fourth quarter and full-year 2022 before U.S. markets open on February 28, 2023. Following the release, Playtika management will host a conference call at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) to discuss the results. Investors can access the live webcast and earnings materials on Playtika’s Investor Relations website.

Founded in 2010, Playtika is a leading mobile gaming entertainment and technology company based in Herzliya, Israel, known for its innovative free-to-play social games.

Playtika's Caesars Slots is launching a Lucky Month promotion, introducing new features and in-app gifts. The campaign includes a 30-second commercial featuring TV personality Ty Pennington, showcasing common superstitions and encouraging players to embrace luck in the game. This is part of a broader marketing strategy including new machines and free slots. The collaboration with Pennington also involves an in-app design feature stemming from a previous successful campaign. Playtika aims to enhance user engagement with this innovative approach in their popular game.

Playtika Holding Corp. (NASDAQ: PLTK) has made a revised non-binding proposal to acquire Rovio Entertainment Corporation for EUR 9.05 per share, a 55% premium over Rovio’s closing price on January 18, 2023. This updated offer exceeds the initial EUR 8.50 proposal submitted on November 16, 2022. The proposal is contingent on customary conditions, including satisfactory due diligence and recommendation from Rovio’s Board. Playtika believes that leveraging Rovio’s intellectual property and user base alongside its monetization expertise will create significant value for shareholders. However, no definitive agreement has been established, and the transaction's completion is uncertain.

Joffre Capital announced its inability to proceed with the pre-closing of a stock purchase agreement to acquire 106,102,467 shares of Playtika (PLTK) due to governance issues within the company. Co-Founder James Lu resigned from the Board, citing significant governance deficiencies, lack of Board responsiveness, and conflicts of interest due to management control. Lu expressed disappointment over the halted acquisition, emphasizing the Board's failure to address critical governance practices. Joffre is now seeking to recover its initial payment related to the agreement.