Playtika grows global revenue to $2.37bn

Finance News

Playtika reported strong quarterly growth in earnings and revenue for the fourth quarter ended December 31, the first quarterly period as a public company for the maker of casual and social casino games.

Revenue was $573.5 million for Q4, up 17.5% from a year earlier, and net income was $76 million compared with $30 million, a year earlier.

Adjusted earnings adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization a measure of profitability was $210.4 million, compared with $169.7 million a year earlier.

For the full year 2021 the company anticipates revenue of $2.44 billion and adjusted EBITDA of $920 million. That’s only slightly better than the $2.37 billion for 2020.

“Playtika had an incredible year of growth and achievement in 2020, culminating in our successful public offering in January of 2021,” CEO Robert Antokol said in a statement. “Throughout the challenging backdrop of 2020, our people displayed the necessary commitment and teamwork to allow Playtika to continue its mission of providing our customers with infinite ways to play. As evidence of our progress, for the first time our casual portfolio recorded over $1 billion in annual revenues. Our relentless focus on data and expertise in live operations is the foundation of our success and will continue to provide a competitive advantage as we look forward with optimism to 2021 and beyond.”