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Playtika Acquires 80% Stake in Reworks

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Playtika Holding Corp. has acquired 80% stake in Reworks Oy, maker of hit Design Entertainment app Redecor, for $400 million in cash.

In 18 months since its launch, Redecor has grown to become the #2 Design Entertainment app based on in-app purchase revenue. Playtika, a leader in mobile gaming, live-ops and technology, will leverage its expertise to further grow Redecor into a leading destination for Design enthusiasts for years to come.

In-app purchase revenue in the Design Entertainment category has grown at a 33% compounded annual growth rate since 2019, based on App Annie. Home Décor comprises 12% of all U.S. e-commerce sales, is one of the most popular categories on Pinterest, and returns more than 100 million Home Décor-related Instagram posts. Home Décor appeals to a similar demographic to that of Playtika’s existing 36 million monthly active users.

“As the fragmented and historically offline market of Home Décor continues to expand onto digital channels, Reworks offers us a compelling opportunity to establish a leading presence in a category that clearly commands a lot of interest and will potentially serve as a foundation to enter further areas beyond traditional gaming. Redecor provides amazing entertainment to design enthusiasts and we intend to utilize our expertise in mobile gaming, live-ops and technology to take it to new heights. Reworks’ talented team will enable us to build new apps in-house to drive future organic growth across the broader digital entertainment and app ecosystems. We are excited to welcome Reworks to the Playtika family,” Robert Antokol, Co-Founder, CEO and Chairman of Playtika, said.

“In Redecor, we set out to build a leading entertainment product for the design community and are thrilled to be able to accelerate its growth with a partner like Playtika. Our strong creative capabilities complement Playtika’s expertise in technology and data, a match we think will be very beneficial to our future growth,” Ilkka Teppo, Co-Founder and CEO of Reworks, said.

Reworks, based in Helsinki, will further bolster Playtika’s existing presence in the city, a leading mobile app and game hub. “Adding such a creative team with a history of making successful mobile apps and entertainment products will help us continue to attract the strongest talent in the Nordic region who want to work on amazing mobile experiences,” Antokol said.

Playtika will purchase the remaining 20% of Reworks for up to $200 million, based on 2022 Company EBITDA (as defined in the definitive acquisition agreement). In the event the agreed-upon 2022 Company EBITDA target is not exceeded, the outstanding 20% will transfer to Playtika for $1.

The acquisition is expected to contribute approximately $30 million in revenue to Playtika’s 2021 revenue. This transaction marks Playtika’s 8th acquisition of a mobile game or IP since its founding in 2010. Following this transaction, Playtika remains well-positioned to continue pursuing its M&A strategy, with approximately $1.4 billion in available liquidity for future deals.

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XLMedia Partially Disposes Personal Finance Assets for $1.3 Million

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XLMedia has announced the part disposal of the Group’s Personal Finance assets for a total cash consideration of $1.3 million (the Disposal). The Disposal comprises domains and websites including Investor Junkie, Greedy Rates and Young and Thifty owned by XLMedia Publishing Limited and Webpals Systems SC Limited, subsidiaries of XLMedia plc. The cash generated from the Disposal will be utilised in the day-to-day operations of the business.

The Disposal is in line with the Company’s strategy to exit non-core activities while focusing on the Group’s Sports and Gaming business, expanding its North American Sports footprint, while also refining and developing the Group’s EU Sports portfolio, and the Group’s Gaming assets in selected markets, including the US.

In the year ended 31 December 2022, the assets relating to the Personal Finance division generated revenues of $1.9 million and EBITDA loss of $1.3 million.

The Personal Finance assets were excluded from continuing operations as disclosed in the Company’s year ended 31 December 2022 results and have no impact on earnings in the current financial year.

Following the sale of these assets to MPD Media, the process to sell the remaining Personal Finance assets is at an advanced stage, but there is no certainty that a transaction or transactions will complete.

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Industry News

IGSA Celebrates 25th Anniversary

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The International Gaming Standards Association (IGSA) is celebrating 25 years of its role in support of gaming industry standards.

IGSA president Peter DeRaedt said: “In addition to the many champions and pioneers of our technical standards, we’re also proud and honoured to have featured a keynote video by Trevor Croker, CEO of Aristocrat Leisure, a founding IGSA member, and this week to feature a keynote video address by Rich Schneider, chief product officer of Light & Wonder and another 25-year IGSA member.”

Mark Pace, vice-president of the IGSA, said: “It has been great to see the congratulations and well wishes come in from all over the world from our current and former members, friends and colleagues.

“These companies have joined in celebrating IGSA’s 25-year anniversary through video messages that we have posted on our social media channels and website.

“We invite all our current and past members to join us at our annual meeting celebration and get-together at Canaletto in the Palazzo on October 10 while you’re at G2E.”

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Former iGaming Director Unveils Holistic Wellbeing Platform for the Gaming industry

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Former iGaming Director Unveils Holistic Wellbeing Platform for the Gaming industry
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HabitRewire, an industry leader in health and wellbeing for the iGaming sector, announced the debut of its innovative iGaming wellbeing platform. The turnkey white-label wellbeing solution can be accessed at any time, anywhere via a user-friendly app, helping employees across the world improve their wellbeing 24/7, inside and outside the workplace.

Presented as a ready-to-use white-label solution that can be branded as the company’s own, it offers an holistic, wide-ranging, and result-driven wellbeing solution that can be instantly deployed.

The platform draws upon HabitRewire’s ‘Habit Rewiring’ methodology, which is backed by robust scientific evidence. This innovative method is engineered to stimulate sustainable behavioural change, helping employees use daily practices to build the skills and habits to improve their physical health, mental wellbeing, and workplace productivity.

“True health and wellness stretch beyond diet and exercise,” affirmed Leo Judkins, Founder of HabitRewire. “Our platform delivers personalised, comprehensive wellbeing interactions across nutrition, movement, sleep, stress, time management and productivity to help employees reach their goals efficiently and effectively, wherever they are.”

The uniqueness of HabitRewire’s platform lies in its CRM capabilities and unique focus on the iGaming industry, reflecting Judkins’ rich, 12-year experience as a CRM Director in the field. His extensive knowledge from developing marketing automation platforms and managing global marketing teams, combined with personal journey of losing 35kg has directly influenced the creation of the HabitRewire platform.

“We use behavioural data, customer segmentation, and automated lifecycle campaigns to create personalised interactions throughout the employees entire wellbeing journey. From the initial stages of activation, onboarding and engagement, right through to retention and reactivation phases.” Judkins noted.

HabitRewire’s platform incorporates an various features such as weekly challenges, daily check-ins, community chats for peer-to-peer encouragement, leaderboards, workouts, recipe books and lifestyle guides.

Designed with the modern workforce in mind, the platform provides employee with a personalised dashboard that includes training advice, nutrition tips, and recovery strategies. The app allows users to schedule coaching calls with a team of experts that includes certified nutritionists, online personal trainers, sleep coaches, stress management professionals, and behaviour change specialists. Additionally, users can track their progress in real-time and sync their data with wearables and services like Apple Health.

“Most wellbeing solutions aren’t accessible for the employees who need it the most. They simply don’t have the time or energy to participate, which a key part of the problem. Our objective is to help people achieve their health and wellbeing goals, no matter where they are in their journey or what’s going on in their life right now” stated Judkins.

HabitRewire’s innovative platform signifies the shift towards proactive and individual care in the workplace, delivering wellbeing solutions directly to employees’ fingertips, no matter if they work from home or from an office.

Companies using HabitRewire’s platform can expect enhanced performance, increased productivity, and a significantly improved working environment. All quantified in weekly management reports that show measurable results.

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