Playtika Holding Corp. Q2 2021 Earnings Release

Playtika Holding Corp. reported its financial results for the second quarter ending June 30, 2021, highlighting organic revenue growth and a successful transition to profitability. The company generated $659.2 million in revenue during the quarter, a slight increase from $650.5 million in the same period of the previous year. Net income reached $90.0 million, marking a significant recovery from the $139.6 million loss recorded in the second quarter of 2020. Adjusted EBITDA for the quarter was $264.4 million, reflecting an adjusted EBITDA margin of 40.1 percent.

The company’s performance was bolstered by strong growth across its casual gaming portfolio, with notable year-over-year revenue increases of 61 percent for Solitaire Grand Harvest, 20 percent for Bingo Blitz, and 18 percent for Board Kings. Operational efficiency improved as well, with average daily payer conversion rising to 2.9 percent from 2.7 percent in the prior year. Furthermore, the company successfully expanded its proprietary platforms, which now account for over 20 percent of total revenues.

Playtika maintains a strong liquidity position, reporting $1.18 billion in cash and cash equivalents, supplemented by $600 million in available borrowing capacity. This capital is intended to support ongoing M&A initiatives. Looking ahead, the company reiterated its full-year 2021 financial outlook, projecting $2.60 billion in revenue and $1.0 billion in adjusted EBITDA. Development efforts remain focused on new content, including the upcoming Q4 2021 global launch of Switchcraft, a story-driven puzzle game developed by the company’s Wooga studio.