Playtika Holdings Corp (PLTK)

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8k interesting

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Playtika Announces Exploration of Strategic Alternatives
4:05 PM ET, 02/24/2022 - PR Newswire
HERZLIYA, Israel, Feb. 24, 2022 /PRNewswire/ -- Playtika Holding Corp. (Nasdaq: PLTK), a leading mobile gaming entertainment company, today announced that its Board of Directors has initiated a process to evaluate Playtika's potential strategic alternatives to maximize value for stockholders. As part of the process, the Board intends to consider a full range of strategic alternatives, which could include a sale of the company or other possible transactions.

Playtika has retained The Raine Group as its financial advisor to assist with the strategic review process and has retained Latham & Watkins LLP as its legal counsel.

As a result of the process, Playtika plans to release its fourth-quarter and full-year 2021 results today, February 24, 2022, earlier than previously announced and is postponing its planned Analyst Day, originally scheduled for March 3, 2022. The earnings call webcast will remain at its originally scheduled day and time of March 1st5:30 a.m. Pacific Time, 8:30 a.m. Eastern Time and associated information can be accessed at our investor relations website: https://investors.playtika.com.

"The goal of the strategic evaluation process we are announcing today is to ensure we are taking every step possible to maximize value for our stockholders," said Robert Antokol, Chairperson and Chief Executive Officer of Playtika. "We have always been focused on growing our core business through our investments in people and technology. I am incredibly proud of our results as a leader in mobile gaming and entertainment."

As Playtika continues its review of strategic alternatives, the timeline, value and ultimate outcome of the process are uncertain. There can be no assurance that the exploration of strategic alternatives will result in any transaction or any strategic change or outcome. Playtika has not set a timetable for the review process nor has it made any decisions related to strategic alternatives at this time. Playtika does not currently intend to disclose developments related to the process.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any offer or sale of any securities in any state or other jurisdiction in which or to any person to whom such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Playtika Holding Corp.

Playtika Holding Corp. is a mobile gaming entertainment and technology market leader with 35 million monthly active users across a portfolio of multiple games titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has 20 offices worldwide and employs over 4,000 employees.

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Playtika: Q4 Earnings Snapshot
6:50 PM ET, 02/24/2022 - Associated Press
HERZLIYA PITUARCH, Israel (AP) _ Playtika Holding Corp. (PLTK) on Thursday reported fourth-quarter profit of $102.3 million.

On a per-share basis, the Herzliya Pituarch, Israel-based company said it had net income of 25 cents.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The mobile game developer posted revenue of $649 million in the period.

For the year, the company reported profit of $308.5 million, or 75 cents per share. Revenue was reported as $2.58 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLTK at https://www.zacks.com/ap/PLTK

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Since 2010, Playtika has been a pioneer in the games industry. We were among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. We were also one of the originators of live game operations, offering users personalized, daily game experiences with new events and exciting new features 365 days a year.

https://www.playtika.com/get-to-know-us/