Cell gaming firm Playtika’s inventory opened at $33.40 on Friday, 23 p.c above its preliminary public providing value.
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The Israel-based firm raised $1.9 billion by means of its IPO earlier than it started buying and selling on the Nasdaq on Friday. At its present share value, the corporate has a valuation of about $11 billion.
Playtika, which is probably greatest identified for its on line casino video games, is certainly one of a handful of gaming and gaming-related corporations to go public in current months. Sports activities betting firm DraftKings and esports firm Skillz went public through a particular function acquisition firm final 12 months, and online game software program growth firm Unity Technologies went public by means of an IPO.
And subsequent week, online game firm Roblox is anticipated to go public by means of a direct itemizing.
Playtika reported practically $1.8 billion in income for the primary 9 months of 2020, up from about $1.4 billion throughout the identical interval in 2019.
Gaming corporations have seen the variety of gamers and person engagements improve over the past 12 months because the COVID-19 pandemic pressured individuals to hunt at-home leisure.
Playtika raised $1.5 million in a seed spherical led by Kaedan Capital earlier than being acquired by Giant Interactive Group in October 2016, in keeping with Crunchbase. Over the course of its lifetime, Playtika has acquired 5 corporations together with Jelly Button Games and Wooga.
Illustration: Dom Guzman
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