Playtika Expands its Presence in the Mobile Gaming Market
Playtika, a leading player in the mobile gaming industry, has been actively involved in mergers and acquisitions since 2018. The company established a $400 million investment arm with the goal of dominating the mobile gaming market. Over the years, Playtika has experienced tremendous growth and has played a crucial role in making Israel a thriving hub for mobile gaming.
Israel’s gaming industry reached a value of $9 billion as of September 2022. The country’s expertise in data analytics has given social and casual games a competitive advantage. Consequently, 74% of Israel’s mobile gaming workforce specializes in these genres, with casual titles accounting for 54.9% of the company’s revenue as of November.
Playtika has emerged as Israel’s most successful gaming company. This achievement can be attributed to the success of its first-party intellectual properties such as June’s Journey and Bingo Blitz. Additionally, the company has made strategic acquisitions of talented developers, positioning itself as a key player in the global mobile gaming ecosystem.
However, Playtika has faced challenges in the past year. The closure of its Helsinki studio Seriously in October 2022, layoffs of over 600 employees, and the breakdown of acquisition talks with a major Finnish studio have disrupted the company’s progress. These setbacks led to a halt in the development of new games and raised speculation about Playtika becoming a potential acquisition target.
Despite these hurdles, Playtika has shown signs of recovery in recent months. Its investment rating has improved from “Underperform” to “Neutral,” indicating a positive trajectory. The company has resumed its acquisition strategy, demonstrating its determination to bounce back.
So where is Playtika currently focusing its energy? Let’s find out: