The social gaming giant recently announced plans for an IPO, anticipating a public offering in the near future. The SEC registration statement, required for approval before the offering can proceed, was made public in late December. Although specific details such as the number of shares to be sold and the price range have yet to be determined, it is worth noting that Giant Investments, the parent company that acquired the business from Caesars Entertainment in 2016, will retain majority control.
The registration statement also disclosed the financial performance of the company for the nine months ending September 30. During this period, the revenue increased by 28.5% year-on-year to $1.80 billion. The adjusted earnings before interest, tax, depreciation, and amortization grew by 41.2% to $665.8 million. The majority of revenue, 57.4%, was generated from casino-themed titles, while casual games accounted for the remaining 42.6%. Daily paying user numbers reached an average of 290,000, and the average revenue per daily active user increased from $0.51 to $0.57.
However, the business experienced a significant rise in expenses, amounting to $1.55 billion, resulting in a decrease in operating profit by 39.4% to $244.9 million. Interest payments also increased from $20.6 million to $149.1 million during the period, contributing to a decline in pre-tax profit to $95.8 million. After income taxes, Playtika’s net profit for the nine-month period totaled $16.1 million, a decrease from $258.9 million in the same period of the previous year.
For more detailed information, please read the full story on InnovateChange North America.
