In 2023, Playtika’s revenue only dropped 1.9% to $2.57 billion. However, higher costs resulted in a 17.9% decrease in net profit.
During the year, Playtika made strategic acquisitions including the $300.0 million purchase of Innplay Labs and the acquisition of Youda Games’ content portfolio from Azerion. The company was also in the running to acquire Rovio Entertainment, but eventually dropped out of the bidding.
CEO Robert Antokol is now focused on pursuing new M&A opportunities to drive growth in 2024. Despite evaluating other strategic alternatives, this has been put on hold due to uncertainty in Israel and Ukraine.
Playtika generated most of its revenue from third-party platforms in 2023, totaling $1.93 billion. Direct-to-consumer platforms contributed $639.4 million, which was a 5.4% increase from the previous year.
Costs were reduced to $2.07 billion in 2023, down 3.7% from 2022. Despite a pre-tax profit increase, net profit declined to $238.0 million.
In Q4 of 2023, revenue saw a slight increase to $637.9 million, while expenses rose to $517.9 million. Net profit for the quarter dropped 68.6% year-on-year to $33.4 million.
