• Loading stock data...
Friday, November 22, 2024
    More
    Deals

    Playstudios’ $1.1 Billion Valuation

    By
    Feb 02, 2021 | 04:30 pm
    Playstudios

    Playstudios Inc. plans to go public through a SPAC merger that values the company at $1.1 billion.

    The mobile game developer will merge with Acies Acquisition Corp., led by chairman Jim Murren, the former MGM Resorts International CEO. The deal is expected to close in the second quarter.

    Playstudios develops gambling-style mobile games like slot machines and blackjack and offers real-world rewards through a loyalty program. 

    Like other mobile-friendly products, the pandemic had a positive effect on its business.

    • Playstudios had an estimated $274 million in revenue for 2020.
    • The global market for social casino games grew to $7 billion last year, up 24% from 2019.

    Investors including MGM Resorts, BlackRock and ClearBridge Investments have agreed to a $250 million investment in the new combined company, which will have an estimated $290 million total in cash. MGM backed Playstudios’ 2011 launch and contributes to the developer’s reward program.

    Eilers and Krejcik Gaming predicts the social-casino market will rise to $8.6 billion by 2025.

    Linkedin
    Whatsapp
    Copy Link
    Link Copied
    Link Copied

    What to Read

    Nov 8, 2024; Minneapolis, Minnesota, USA; Portland Trail Blazers guard Anfernee Simons (1) works around Minnesota Timberwolves guard Donte DiVincenzo (0) in the third quarter at Target Center.
    by

    Trail Blazers Troll Fan With Gambling Addiction Helpline
    The official account suggested that a complaining fan on X/Twitter should call 1-800-GAMBLER.
    Vanderbilt Commodores quarterback Diego Pavia (2) throws the ball as Auburn Tigers take on Vanderbilt Commodores at Jordan-Hare Stadium in Auburn, Ala., on Saturday, Nov. 2, 2024. Vanderbilt Commodores defeated Auburn Tigers 17-7.
    by

    Vandy QB Pavia Sues NCAA for 2 More Years of Eligibility
    Diego Pavia beat Alabama. Can he beat the NCAA’s eligibility rules?
    DraftKings
    by

    DraftKings Lowers Full-Year Guidance After Brutal NFL Outcomes
    DraftKings cited a tough start to the fourth quarter in lowering its 2024 guidance.
    Nov 4, 2024; Kansas City, Missouri, USA; Kansas City Chiefs wide receiver DeAndre Hopkins (8) celebrates with quarterback Patrick Mahomes (15) after scoring against the Tampa Bay Buccaneers during the second half at GEHA Field at Arrowhead Stadium.
    by

    Missouri Becomes 39th State to Legalize Sports Gambling
    Missouri was the only state with sports gambling on its ballot this election cycle.
    podcast thumbnail
    podcast thumbnail mobile
    Front Office Sports Today

    Who Can Actually Afford Juan Soto?

    0:00

    Featured Today

    Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.
    by

    F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..
    Stakes are high as F1 gears up for a successful second act.
    Classic Football Shirts New York Pop-Up
    November 18, 2024

    Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...
    The money-making shirts are at the prime intersection of memorabilia and fashion.
    Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
    opinion
    November 16, 2024

    NBA Ratings Rorschach Test: Buy the Dip
    Was it the election? Too many threes? Lack of storylines?
    November 15, 2024

    Executive Decision: When Richard Nixon Named a College Football Champion
    In 1969, the 37th president unilaterally named the winner of the season.

    More in Deals
    by

    Why Liberty Media Spun Off Assets, Shook Up Leadership
    Longtime CEO Greg Maffei is stepping down at the end of the year.
    Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
    October 25, 2024

    Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record
    The Lightning unveiled a multistep and multiyear sale process.
    Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
    October 30, 2024

    Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report
    Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
    Sponsored

    How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture
    As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
    May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
    October 9, 2024

    Why Mark Cuban Sold the Dallas Mavericks When He Did
    Cuban sold his majority stake to the Adelson family in December 2023.
    Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
    October 2, 2024

    Private Equity Firms Buy Rival Hockey Brands CCM and Bauer
    Both brands have been around for decades and changed ownership in the same week.
    September 18, 2024

    Rogers Tightens Grip on Canadian Sports With $3.46B MLSE Stake
    The Blue Jays owner makes a big move to corner most of the Toronto pro sports market.
    Fans watch TV screens during a game viewing party for fans at the FanDuel Sportsbook at Meadowlands Racing & Entertainment in East Rutherford, New Jersey.
    September 18, 2024

    FanDuel Parent Buys Italian Gambling Company in Bid for Growth
    Flutter is making big moves in Italy and Brazil.