Playstudios News
5 articles
growth-positive
"Everyone's flocking to our games, but without restaurants and cruises our core proposition was impacted"
Social casino company Playstudios has gone public by merging with a special purpose acquisition company (SPAC). The company develops social casino games, mainly slot machine games where players do not earn real money. Playstudios stocks are being closely watched to see if they will perform well. Other gaming companies, such as Playtika, Huuuge, and SciPlay, have also recently gone public. Playstudios Israeli operations are based on the activities of the local company Shaker, which it acquired in 2016. Playstudios holds licenses to use brands of known casinos, like MGM, and offers a player loyalty program with real-world prizes. The company has been affected by the COVID-19 pandemic, as the prizes offered can no longer be redeemed due to travel restrictions.
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Playstudios will go public via SPAC at $1.1 billion valuation
Playstudios, the maker of MyVegas slots and blackjack games, will go public through a special purpose acquisition company (SPAC) deal with Acies Acquisition Corp. The deal values Playstudios at $1.1 billion. Playstudios has a unique approach with its games, offering a loyalty program that allows players to redeem points at MGM casinos. The company will raise $290 million through the SPAC deal, including a private investment in public equity (PIPE) deal. The transaction is expected to close in the second quarter of 2021. Playstudios has seen significant revenue growth and plans to expand its loyalty and rewards program to other genres of games.
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PLAYSTUDIOS Israel Teams With CrazyLabs To Host Israel's First Independent 'Women In Games' Conference
PLAYSTUDIOS Israel is partnering with CrazyLabs to host the first independent Israeli Women In Games conference. The conference aims to bring women from all sectors of gaming together to discuss the challenges they face and find solutions to guide the industry forward. Over 100 representatives from gaming brands are scheduled to attend. The event will include opening remarks from PLAYSTUDIOS Israel Head of Relations and Co-Operations Adva Lev and CrazyLabs CFO Nurit Benjamini, as well as a panel discussion led by GameIs CEO Yael Hakshurian. The conference will focus on creating mentorship and training programs to encourage more women to pursue careers in computer science. All proceeds from the event will go to QueenB, a nonprofit organization providing computer science training to middle-school girls.
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Office Tour: Playstudios Offices - Tel Aviv
Playstudios has opened their new office in Tel Aviv, designed by RUST architects. The office is located in an industrial complex and features a bright entrance, self-contained working areas, meeting rooms, a fitness center, and a large versatile hall. The design incorporates natural light and a variety of materials and textures. The office aims to create a wholesome and pleasant space for the gaming company.
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PLAYSTUDIOS buys Israeli game studio Scene53
US casino games developer PLAYSTUDIOS has acquired Scene53, an Israel-based game studio specializing in real-time, multi-player mobile games. The acquisition will allow PLAYSTUDIOS to establish an independently operated studio in Israel and focus on growing the POP! Slots product. Scene53 has raised $20 million to date and has previously developed games platforms such as Shaker. The financial terms of the acquisition were not disclosed. PLAYSTUDIOS CEO Andrew Pascal praised Scene53s platform and online experiences, while Scene53 founder and CEO Yonatan Maor expressed admiration for PLAYSTUDIOS games and knowledge of the casino industry.
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