The Bear Cave

Share this post

Problems at Playtika (PLTK)

thebearcave.substack.com

Problems at Playtika (PLTK)

Problems at Playtika (PLTK)

Edwin Dorsey
Nov 18, 2021
6
2
Share this post

Problems at Playtika (PLTK)

thebearcave.substack.com

Playtika Holding Corp (NASDAQ: PLTK — $8.54 billion) is a China-backed Israel-based app developer whose “mission is to entertain the world through infinite ways to play.” Investors believe Playtika has a healthy user base and a strong playbook for acquiring popular games and improving monetization. The Bear Cave doesn’t.  

(Some popular Playtika games)

Founded in Israel in 2010, Playtika was sold to Caesars Interactive Entertainment in 2011, resold to a Chinese consortium led by Giant Interactive Group (SHE: 002558 — CNY23.2 billion) and Jack Ma for $4 billion in 2016, and then taken public in January 2021 at an $11.4 billion valuation. In 2020, Playtika earned 97% of its revenue from nine app-based games: Slotomania, Bingo Blitz, House of Fun, Caesars Slots (licensed), World Series of Poker (licensed), Best Fiends, June’s Journey, Solitaire Grand Harvest, and Board Kings. Playtika derives 70% of its revenue from the U.S. and 15% from Europe.

Mobile app games face a tradeoff between user…

This post is for paid subscribers

Already a paid subscriber? Sign in
© 2023 Edwin Dorsey
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing