Industry News
Playtika Reports Q2 2024 Financial Results
Playtika Holding Corp. released financial results for its second quarter for the period ending June 30, 2024.
Financial Highlights
Revenue of $627.0 million decreased (3.7)% sequentially and (2.5)% year over year.
DTC platforms revenue of $173.7 million increased 1.3% sequentially and 5.1% year over year.
Net income of $86.6 million increased 63.4% sequentially and 14.4% year over year.
Credit Adjusted EBITDA of $191.0 million increased 2.9% sequentially and decreased (11.2)% year over year.
Cash, cash equivalents, and short-term investments totaled $1.1 billion as of June 30, 2024.
“We are focused on the resilience and potential of our leading games and our strategic initiatives aimed at revitalizing our portfolio. We are actively pursuing opportunities to broaden our game offerings through M&A. Our focus is on identifying studios that complement our existing games and drive long-term value,” said Robert Antokol, Chief Executive Officer.
“Our focus on our direct-to-consumer business and our highly disciplined approach to managing operating expenses has led to a notable improvement in our margins on a sequential basis. We are taking steps to ensure sustained growth and profitability and we remain committed to delivering long-term value to our players and shareholders, our focus on execution remains unwavering,” said Craig Abrahams, President and Chief Financial Officer.
Selected Operational Metrics and Business Highlights
Average Daily Paying Users of 298K decreased (3.6)% sequentially and (2.9)% year over year.
Average Payer Conversion of 3.7%, up from 3.5% in Q1 and 3.6% in Q2 2023.
Casual games revenue decreased (4.3)% sequentially and (1.7)% year over year.
Social casino-themed games revenue decreased (2.9)% sequentially and (3.4)% year over year.
Bingo Blitz revenue of $155.7 million decreased (1.2)% sequentially and (0.4)% year over year.
June’s Journey revenue of $74.6 million decreased (2.6)% sequentially and increased 1.9% year over year.
Slotomania revenue of $133.8 million decreased (1.2)% sequentially and (7.5)% year over year.
Playtika Announces Quarterly Dividend
Playtika’s Board of Directors declared a cash dividend of $0.10 per share of the outstanding common stock, payable on October 4, 2024 to stockholders of record as of the close of business on September 20, 2024. Future dividends are subject to market conditions and approval by the Board of Directors.
Financial Outlook
For the full year 2024 the company expects revenue to be toward the bottom end of the previously provided range of $2.52 – $2.62 billion, Credit Adjusted EBITDA to be in the middle of the previously provided range of $730 – $770 million and capital expenditures to be within a range $95 – $100 million.
Industry News
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
BlueOcean Gaming has announced that its leading product, GameHub, has won the Best Aggregator 2024 Award at SiGMA East Europe Awards.
“This recognition is a significant milestone for BlueOcean Gaming, highlighting the strength and innovation of GameHub—our leading game aggregation platform. GameHub has set a new standard in the iGaming industry by seamlessly integrating over 140 providers and offering a vast library of more than 13,000 games, including slots, live casino games, virtual sports, and sportsbooks,” the Company said.
“A heartfelt thank you goes out to SiGMA World for acknowledging the hard work and dedication that has gone into making GameHub a standout product. The SiGMA East Europe Awards shines a spotlight on the most impactful projects and the visionaries driving change across the gaming industry, and we are incredibly honored to be a part of this movement.
“This achievement wouldn’t have been possible without the support of our amazing partners and clients, whose trust motivates us to continuously innovate. Most importantly, a huge round of applause goes to the entire BlueOcean Gaming team. Your dedication and passion for delivering top-tier, trustworthy solutions are the driving force behind this success.
“As we celebrate this incredible win, let this award be a source of inspiration, pushing us to aim even higher, continue our journey of innovation, and reach greater heights in the iGaming industry.
“We look forward to what’s ahead and to continue providing our partners and clients with the best solutions available in the market.”
Industry News
CT Interactive to Showcase Latest Solutions at SBC Summit in Lisbon
CT Interactive, a renowned provider of online gaming solutions, is set to exhibit at this year’s SBC Summit in Lisbon, which will take place from 24 to 26 September at the FIL Exhibition Centre. As part of its presence at the premier industry event, CT Interactive will have an exclusive stand where the company will showcase its latest products.
The SBC Summit brings together leaders from the iGaming industry to explore the most significant market trends and developments. CT Interactive’s stand #A230 will feature a live demonstration of its latest gaming portfolio, including its most recent game releases and customisable solutions that cater to operators’ needs. The company’s team of experts will be on hand to explain how it’s portfolio can help operators boost player engagement and retention.
“We are thrilled to be part of the SBC Summit this year. This event is an excellent opportunity for us to connect with potential partners and showcase our latest innovations, games and bonus mechanics which give the players more control and enhance the overall player experience and winning opportunities. We are excited to present our solutions to both core and new clients, highlighting our dedication to delivering engaging and forward-thinking products on the market,” said Monika Zlateva, CCO of CT Interactive.
Visitors to CT Interactive’s stand will also have the chance to explore the company’s advanced gaming features, such as jackpots, free spins and bonus tools. Additionally, the company will unveil its new strategic partnership with GameWorkz, a provider of social gaming solutions that will present its solutions on CT Interactive’s stand at the show. GameWorkz offers a player management platform where clients can integrate various components, including third-party services and proprietary technology utilising a fully functioning social gaming product complete with gamification tools and a loyalty programme designed to meet the needs and expectations of social players.
“With our participation in SBC Lisbon, we aim to reinforce our position as a global leader in online gaming, forging new partnerships and expanding influence within the rapidly evolving industry,” said Antonio Donov, Senior Business Development Manager EMEA and Asia.
Industry News
TaDa Gaming Delivers Enhanced Performance and Rewards with New Gamification Tool, GiftCode
Leading casino entertainment content provider, TaDa Gaming, has ramped up player engagement across its diverse portfolio with its new gamification tool, GiftCode.
One click will add GiftCode to any of the 150+ diverse TaDa Gaming releases. Currently the reward is Free Spins but GiftCode is flexible so rewards can be targeted to operator choice, specific audience and even individual player preference.
Designed for issue by operators and streamers, invitations are sent to a designated segment or audience, whether new or churned players, VIPs or as part of a promotion, and through any channel. No additional integration is required. With nearly 100% redemption to date, the new product launch has exceeded every KPI.
An initial test run across Brazil saw impressive results. Collaborating with 100 Streamers and Key Influencers over four months resulted in 500,000 GiftCode links issued, with a redemption rate of 95+% and new player sign up increasing by more than 30,000 per month. Furthermore, the Next Day Retention rate was consistently 85-90%.
Since launching GiftCode in European markets in April 2024, 70K+ TaDa GiftCode links were issued across 150+ releases. This generated a 100% redemption rate leading to 13.9% increase in new player sign up, 10% increase in player engagement and a 10% uplift in bet volume.
TaDa’s GiftCode serves as a powerful tool to deliver rewards directly to players. With a straightforward process for accessing the promotion, single use application, and recorded usage and wager level, the rewards are instant, meaning players can trust GiftCode completely and operators can easily measure its success.
Andy Huang, CEO of TaDa Gaming, said: “Enhancing the gaming experience is a key way to attract and retain players. GiftCode appeals to new and existing customers and positively impacts acquisition costs for operators and streamers, so we have seen a very strong response from all stakeholders.
“Furthermore, the simplicity of the integration process is a significant driver of take up for operators, whilst the enhanced reward potential from just one click is very popular with players globally.
“We look forward to further personalising and customising GiftCode with our players and clients to create even more immersive play.”
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