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Game on: Mobile game developer Playtika sets terms for $1.6 billion IPO

January 7, 2021

Playtika Holding, a leading developer of casino and other mobile games, announced terms for its IPO on Thursday.

The Herzliya, Israel-based company plans to raise $1.6 billion by offering 69.5 million shares (69% insider) at a price range of $22 to $24. New investors intend to purchase up to $600 million worth of shares in the offering. At the midpoint of the proposed range, Playtika Holding would command a fully diluted market value of $9.7 billion.

Playtika is a leading developers of mobile games, with a portfolio that primarily includes casino-based games. The company has produced nine games ranking in the top 100 highest grossing mobile games in the US, based on total in-app purchases in the 9mo20, and primarily grows its game portfolio through acquisitions. 

Playtika Holding was founded in 2010 and booked $2.3 billion in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol PLTK. Morgan Stanley, Credit Suisse, Citi, Goldman Sachs, UBS Investment Bank and BofA Securities are the joint bookrunners on the deal. It is expected to price during the week of January 11, 2021.