Playtika Shows Mixed Revenue Stream Results for Q4 in 2023
LISTEN TO THIS ARTICLE:Playtika, the Casual and Social casino games supplier, has announced its fourth-quarter results for 2023, which saw the supplier's revenue reach $637.9 million, which is an increase of 1.1% in a year-on-year comparison.
The statement detailed other financial indicators for the last quarter in 2023 which included a Credit Adjusted EBITDA figure down 6.8% to $188.9 million in comparison to the same period in the previous year. Additionally, Net income was $37.3 million, a sizable decrease of 57.4% in a year-on-year comparison, as well as the revenue of the DTC platforms dropped year on year by 7.6% to $161.6 million.
Playtika revealed a strategic plan for its future Capital Allocation Framework which laid out where the company will direct its funds over the next three years. These included a dividend scheme, merger and acquisition ambitions, and investigating other opportunities for the business.
In the past year, we’ve honed our focus on efficiency and streamlined our operations, adapting to evolving industry dynamics in mobile gaming. Now, with a solid foundation, 2024 marks our shift towards reinvestment – pursuing M&A opportunities with a strategic intent of capital deployment.
Playtika to Initiate a Dividend Scheme
The software supplier of social casinos indicated that the company will implement a dividend program for shareholders starting in 2024. The scheme will see the company issuing a quarterly dividend of $0.10 per share to its investors. This scheme is subject to approval by the board of directors and if market conditions allow.
Leadership at Playtika has outlined the business has set aside between $600 million and $1.2 billion to invest in mergers and acquisitions in the next three years.
With the introduction of our new capital allocation framework, we’re taking a multi-faceted approach to maximize shareholder value: initiating quarterly dividends to return capital to shareholders and earmarking $600 million to $1.2 billion for M&A over the next three years. We believe that we are well-positioned to lead consolidation in the mobile gaming industry.
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