Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the «Company») today announced that it is commencing an underwritten public offering of shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase common stock. All of the securities in the offering are to be sold by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as book-running managers for the proposed offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on February 5, 2021. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.
Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Contact:
Media Inquiries
[email protected]
[email protected]
Investor Relations Inquiries
[email protected]
JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114940
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East Side Games Group (TSX: EAGR) (OTC: EAGRF) (» ESGG » or the » Company «), Canada’s leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC’s critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.
Watch the launch trailer here .
» The Office: Somehow We Manage offers players the chance to immerse themselves in iconic moments from the series and connect with their favorite characters like never before,» said Darcy Taylor , Chief Executive Officer of ESGG. «Fans of The Office will absolutely feel the nostalgia through this new game.»
» The Office: Somehow We Manage reimagines the cast as vibrant, animated characters for the first time, bringing a fresh new experience to The Office fans everywhere,» said Jim Molinets , SVP of Production, Universal Games and Digital Platforms. «The game will transport players into well-known and hilarious episodes that have resonated with so many over the years and let them ‘clock in’ even more time with their favorite Dundler Mifflin employees.»
The Office: Somehow We Manage will allow fans to relive memorable moments from the show like they’ve never seen them before – animated, all while tapping their way to record profits to save the Scranton Branch from downsizing. Featuring accessible gameplay for all types of players, this narrative idle tapper will give players the chance to unlock and upgrade iconic characters and their desks all the while participating in monthly special events for additional in-game rewards.
GAME FEATURES
COLLECT ICONIC CHARACTERS IN GAME
Tap, upgrade, and build desks for favorite characters from the hit NBC comedy The Office , including Prison Mike, Farmer Dwight, Pretzel Day Stanley, and of course, Three Hole Punch Jim, all appearing in animated form for the first time.
RELIVE MEMORABLE EPISODES FROM THE OFFICE [U.S.]
Click through memorable episodes in this free-to-play game, like «The Dundies» and «Dinner Party.» Take a seat in Michael’s office, get in line for Pretzel Day, or spend the weekend at Schrute Farms. Oh, and watch out for Kevin’s famous chili! Additional episodes from all nine seasons of the show will be added to the game on a regular basis.
SPECIAL EVENTS
In-game events will introduce new versions of characters and more memorable moments, along with weekly and monthly special events inspired by elements from the show.
EARN IN-GAME REWARDS TO KEEP THE BRANCH AFLOAT
Manage Dunder Mifflin Scranton with the help of the whole branch! Get new leads and tap away as the in-game rewards start rolling in. Just make sure Michael doesn’t spend the surplus on a new plasma TV!
Players can now run the world’s best mid-size regional paper company branch in The Office: Somehow We Manage , available now on iOS and Android.
Visual assets for the game, including key art and logos, can be found in the online press kit .
ABOUT EAST SIDE GAMES GROUP
East Side Games Group (formerly operating under the name «LEAF Mobile Inc.») is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: Archer: Danger Phone, Bud Farm Idle Tycoon, Cheech & Chong Bud Farm , The Goldbergs: Back to the 80s, It’s Always Sunny: The Gang Goes Mobile and Trailer Park Boys Grea$y Money , RuPaul’s Drag Race Superstar and T he Office: Somehow We Manage .
We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. For further information, please visit: www.eastsidegamesgroup.com and join our online communities at LinkedIn , Twitter , Facebook , and Instagram .
Additional information about the Company continues to be available under its legal name, LEAF Mobile Inc., at www.sedar.com .
ABOUT NBC’S THE OFFICE
Produced by Universal Television in association with Deedle-Dee Productions and Reveille Productions, The Office is a groundbreaking mockumentary television series that follows the daily lives of the employees of the Scranton branch of Dunder Mifflin, a fictional paper company. All nine seasons of the Emmy® Award-winning series are available exclusively on Peacock.
ABOUT PEACOCK
Peacock is NBCUniversal’s streaming service. Peacock delivers a world-class slate of exclusive originals, on-demand libraries of hit TV shows, plus critically acclaimed films from the vaults of Universal Pictures, Focus Features, DreamWorks Animation, Illumination and Hollywood’s biggest studios. In addition, Peacock taps into NBCUniversal’s unmatched ability to deliver a broad range of compelling topical content across news, sports, late-night, Spanish-language and reality. NBCUniversal is a subsidiary of Comcast Corporation.
ABOUT UNIVERSAL GAMES AND DIGITAL PLATFORMS
Universal’s Games and Digital Platforms group leverages the vast portfolio of IP and characters from NBCUniversal. The Games and Digital Platforms group is a business unit of Universal Brand Development, which is chartered with globally expanding the company’s intellectual properties, franchises, characters and stories through innovative physical and digital products, content, and consumer experiences. The company’s extensive portfolio includes properties created by Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming. Universal Brand Development is part of NBCUniversal, a subsidiary of Comcast Corporation. www.universalbranddevelopment.com .
Forward-looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.
SOURCE East Side Games Group
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/27/c5121.html
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Players can enjoy playing the Netflix Original Anime series «B: The Beginning», produced and operated by D-techno Co., Ltd., as a mobile game.
It is a must-play with an exclusive storyline and a protagonist named «ZERO».
The application has been released on Google Play and App Store in 100 countries, including the United States .
-App Marketplace Links
Google Play: https://play.google.com/store/apps/details?id=com.bluesom.BTheBeginning
App Store : https://apps.apple.com/us/app/b-the-beginning-episodio-zero/id1600199246
-Exclusive Story
«ZERO» an AI with extended intelligence, is assigned to Royal Investigation Service (RIS).
Not knowing how they were devised, ZERO discovers their identity as they investigate different crime scenes with the unit.
Players will enjoy reading a large volume of 12 chapters exclusively developed for this game.
-Auto Battle
Players can progress the story by clearing battles when they encounter enemies during missions.
Battles are easy to play auto battles with no stress.
-Enhancing and Raising Characters
Players can enhance and raise the characters they have through clearing battles and missions.
-About «B: The Beginning»
«B: The Beginning» is the first Netflix original anime born from the collaboration between studio Production I.G and streaming giant Netflix. Set in the fictional Kingdom of Cremona, the story mixes procedural drama with fantasy elements, cleverly calibrating gloomy atmospheres with occasional comical relief and over-the-top action. Released worldwide in 2018, the 12-episode series is directed by Kazuto Nakazawa , also credited as character designer and animation supervisor. One of Japan’s top animators, Nakazawa is globally renowned as the director of the much praised animation sequence in Quentin Tarantino’s «Kill Bill: Vol. 1». The series features the theme song, «The Perfect World» composed by former Megadeth guitarist Marty Friedman and performed by vocalist Jean-Ken Johnny of Man with a Mission fame. The hauntingly beautiful music score is composed by Japan Academy Film Prize winner Yoshihiro Ike («Blood: The Last Vampire»).
The series was selected in competition at the Annecy Animation Festival, and was awarded at the Bucheon International Animation Festival and WorldFest. It was followed in 2021 by a second season, entitled «B: The Beginning Succession».
Official Anime Website:
http://www.productionig.com/contents/works_sp/97_/index.html
B: The Beginning Episodio-Zero
Developer: Bluesom Co., Ltd.
Planning & Production: D-techno Co., Ltd.
Price: Paid App (In-App Purchases Available)
Genre: Adventure/RPG
Compatible Operating Systems: iOS11 or newer, Android 6.0 or newer required.
Please include the following copyrights when using portions of this document:
© Kazuto Nakazawa / Production I.G
© Bluesom
© D-techno
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SOURCE D-techno Co., Ltd.
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The fact that Puzzles & Survival by 37GAMES won an award for Best Gameplay Innovation at the Sensor Tower APAC Awards 2021 on February 18, 2022 merely rubber stamps the phenomenal success of this zombie-themed match-three game. The fact that it also recently topped 38 million downloads worldwide and still ranks as one of the top-grossing games in the U.S., Europe and Japan a whole year after its release doesn’t seem particularly surprising considering how many times it has been recommended by both the App Store and Google Play.
Though it is hard to pin down the precise reasons for the cementing of Puzzles and Survival’s continued success on Android and iOS, much can be said for the game’s creative fusion of classic match-3 and wargame strategy gameplay. These exciting gameplay elements, coupled with the post-apocalyptic wasteland backdrop against which this all transpires, have rightfully earned significant acclaim from players and gaming content creators alike.
Furthermore, the Puzzles & Survival team’s continual attempts to collect feedback from the game’s global user base have helped provide the polished, unique, and rewarding gaming they have become accustomed to. Perhaps most notably, the game’s wide range of collaboration and crossover events, namely the Godzilla and Glacial Mine Exploration crossover event, as well as the Locust Hunt and Multispecies Update events launched in collaboration with Discovery, resulted from the creators’ persistent desire to make the most enriching and enthralling gaming experience possible .
These plaudits, acclaim, and popularity alike have only strengthened the creator’s resolve and gratitude to the game’s loyal user base, to whom its success will forever be indebted, as well as its continued growth. With that much in mind, a gift code, [PNSBEST], has been made available within the game, and an exciting new crossover event will be made available very soon, so make sure to keep an eye out, or download the game today if players haven’t done so already .
Download: https://pse.is/3xb2m2
Official Fan Page : https://www.facebook.com/PnS.37Games
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SOURCE 37 GAMES
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2022/25/c7117.html
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Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the «Company») highlighted today the strong start to calendar year 2022 for its iGaming division. The Company’s iGaming division, which holds five Tier-1 gaming licenses across Europe and the United States, has delivered seven consecutive weeks of Net Gaming Revenue in excess of $1 million to begin the quarter and 10 straight weeks in total dating back to December. In January, the iGaming division achieved their highest revenue month with more than $6 million. This month, the Company’s casino brands have reported record levels of first-time depositing users since the acquisition of Lucky Dino a year ago. Additionally, cross-selling initiatives across brands have been a strong tailwind to-date in 2022.
«Despite the challenges reflected in our second quarter fiscal 2022 results announced earlier this week, our iGaming business continues to see strong momentum to start the calendar year,» said Grant Johnson, CEO of Esports Entertainment Group. «Consistently eclipsing net gaming revenue of $1 million per week is a testament to the success of our work to migrate off of Bet Construct and onto our proprietary Idefix platform.»
In addition to the growing momentum for its iGaming business, the Company’s VIE.gg platform is completing soft play in New Jersey, which allow bettors to wager on their favorite esports teams in real-time. The Company is eager for the inaugural launch of its LANDUEL peer-to-peer wagering platform, which is set for March 19-20 at the Hard Rock Casino & Hotel in Atlantic City, New Jersey.
About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Contact:
Media Inquiries
[email protected]
[email protected]
Investor Relations Inquiries
[email protected]
JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114849
News Provided by Newsfile via QuoteMedia
Holoride the company advancing the future of in- vehicle entertainment, today announced it is partnering with HTC VIVE the premier virtual reality (VR) platform and ecosystem. Through this partnership, holoride will deploy its extended reality (XR) technology in VIVE Flow, a compact and lightweight immersive glasses device, to transport users from the backseat of a car to an imaginative world filled with content around every turn, including both VR and traditional 2D content. VIVE Flow will be the first holoride-ready VR device for series integration in cars in the scope of the company’s market launch in the second half of 2022.
holoride adds thrill to every ride by merging XR content with real-time motion, location and navigational data from the car and its environment, creating hyper-immersive experiences. With VIVE Flow, riders can naturally navigate and maneuver through the virtual worlds with the same intuitive gestures as they would with conventional VR devices. And with holoride’s advanced cinema mode, individual users can privately enjoy 2D content on a virtual, motion- synchronized cinema screen.
«holoride is on a mission to create exciting in-vehicle experiences for passengers to travel the Metaverse, and that starts with putting our technology in the hands – or on the heads – of riders,» said Nils Wollny , CEO and co-founder of holoride. «VIVE Flow is the ideal device for on-the-go XR, so we are thrilled to be partnering with HTC VIVE to give riders direct access to holoride. The glasses’ sleek, portable design means riders can enjoy a fun and connected experience anywhere they go.»
VIVE Flow is the perfect travel companion. Weighing just 189g, it’s comfortable to wear and lightweight, so that riders can easily transport the glasses to and from the car. The dual- hinge design and soft face gasket make VIVE Flow easy to put on, take off and fold down into a compact footprint. And it delivers a cinematic screen to enjoy the content on, whether that’s gaming or TV and films.
«VIVE Flow can fit in the palm of your hand and still deliver a breathtaking experience,» said Shen Ye , Global Head of Hardware at HTC VIVE. «Paired with holoride’s impressive tech, you’ll be able to turn car rides into virtual amusement parks. We’re very excited to work with holoride in shaping the future of passenger entertainment.»
VIVE Flow integrated with holoride’s XR technology will be on display and available for demo as part of the HTC VIVE exhibition booth (Hall 7, stand 7A40) at Mobile World Congress taking place in Barcelona, Spain Feb. 28 – Mar. 3 .
To learn more about holoride and stay up to date on the latest news, visit www.holoride.com/newsroom .
About holoride
holoride creates an entirely new media category for passengers by connecting Extended Reality (XR) content with data points from the vehicle in real time. These data points include physical feedback, like acceleration and steering, traffic data, as well as travel route and time. holoride technology provides a new type of immersion into any kind of VR content, creating a breathtaking, immersive experience, and significantly reducing motion sickness.
The tech startup was founded at the end of 2018 in Munich, Germany by Nils Wollny , Marcus Kuehne , Daniel Profendiner and Audi, who holds a minority stake in the startup.
In April 2021 , holoride raised €10 million in its Series A funding round led by Terranet AB, earning the company a €30 million valuation. That same year, holoride won the prestigious SXSW Pitch and was also named Best in Show. It has been hailed «Best of CES 2019» four times, recognized as one of the «100 Best Inventions of 2019» by TIME Magazine and is part of the global innovation platform «STARTUP AUTOBAHN powered by Plug and Play».
For more information, please visit https://www.holoride.com/ .
About HTC
HTC VIVE is the premier virtual reality (VR) platform and ecosystem that creates true-to-life VR experiences for businesses and consumers. The VIVE ecosystem is built around premium VR hardware, software, and content. The VIVE business encompasses best-in- class XR hardware; VIVEPORT platform and app store; VIVE Enterprise Solutions for business customers; VIVE X, a US$100M VR business accelerator; and VIVE ARTS for cultural initiatives. For more information, please visit www.vive.com .
Media Contact
Janabeth Ward
Walker Sands
+1-617-960-8891
[email protected]
holoride
Rudolf Baumeister
Director of Marketing & Communications
+49-174-169-65-73
[email protected]
HTC
[email protected]
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SOURCE holoride
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With HeroSeri’s recent passing TechRate Audit Test, the project of Amobear Studio has become more promising than ever. After building solid communities worldwide, HeroSeri will head towards Seed Sale & Private Sale in February. HeroSeri’s Developers have high hopes that the game will redefine the concept of NFT projects.
About HeroSeri
HeroSeri is a series of games that pioneers the development of Metaverse integration. In the HeroSeri Multiverse, players have the chance to experience distinct gameplay, but the story and the characters will remain consistent throughout each game that is produced.
To create a game Multiverse that keeps players engaging for years, Amobear Studio understands how their missions could fulfill this vision. HeroSeri values each player’s effort and believes that they have complete control over their gameplay experience as well as their source of income. Thus, a player-owned economy in HeroSeri shall allow gamers to participate in a wide variety of activities that yield different ways of earning.
What future holds for HeroSeri
The game has been developed ceaselessly since 2017. By January of 2022, HeroSeri has created millions of unique NFTs and tested their games multiple times to ensure the products will be perfect upon launching.
HeroSeri has also been successfully listed on CoinMarketCap in late February, the project also aims for other reliable exchanges to meet investors’ needs.
During the first quarter of 2022, the development team of HeroSeri will release the Genesis NFT Boxes, which contain Heroes of various races and rarities. By the second quarter, HeroSeri will have had a couple of IDOs on many renowned launchpads.
HeroSeri’s gameplay
There will be a total of three games within the HeroSeri Multiverse. To guide players through the in-depth storyline and the characters, HeroSeri Puzzle will be the first one to launch. It is said to utilize an easy-to-play ecosystem where the UI is user-friendly and the gameplay is consistently engaging.
HeroSeri CEO confirms that its simplicity appeals to not only older demographics who grew up with retro games such as Tetris but also the young generations who will find their upcoming PvP mode challenging and thrilling.
Co-founder of Amobear – Tuan Nguyen
Tuan Nguyen started as a freelance website developer. After graduation, he joined FPT – the largest information technology service company in Vietnam – and worked on different projects from small to large-scale ones, which helped him achieve a significant breakthrough in his profession. He opened his own business four years later, whose network of organizations revolved around developing websites, advertising, and outsourcing.
Having recognized the future of mobile games, Tuan Nguyen founded Amobear Studio in 2020. The development team has researched the state of the market, the latest trends, and their customers’ behavior. With an accumulation of tireless efforts, Amobear Studio has successfully scaled 30 applications to more than 50 million users worldwide.
In 2021, the success of Axie Infinity, a renowned blockchain-based game, has inspired him to take GameFi and NFTs to the next level. «Players purchase an NFT, but they could only make use of it in one game. But what if there is a game multiverse that allows players to take their NFT to different games. For example, you catch one Pokémon, and it appears in every version of Pokémon games. To me, that idea sounds amazing.» HeroSeri CEO said.
And so HeroSeri was born. The game’s ultimate goal is to create a Metaverse where players will take on different roles to their liking. Before that, they will have an opportunity to explore various gameplay as HeroSeri comes in different phases. Each phase will launch a distinct game, making the gaming progression more enjoyable and diverse.
» We believe that players will be able to make a steady income without sacrificing their need for entertainment. Therefore, HeroSeri utilizes both Play-4-fun and Play-2-earn features simultaneously to ensure this vision of ours. » HeroSeri CEO affirmed.
The possibility of cross-game NFTs
HeroSeri takes NFT Ownership seriously more than any other project. Amobear co-founder, Tuan Nguyen , assures that upon purchasing an NFT such as one of the Heroes of the game, HeroSeri’s AI system will generate its color. Therefore, each Hero or Item within the HeroSeri Multiverse will have a unique appearance, emphasizing the Ownership of NFTs.
What’s more, despite different games in particular phases, players of HeroSeri can use their already-owned NFT to play freely across the multiverse without having to make multiple purchases. Not only does this feature make NFTs more valuable, but it also enhances the gaming experience.
View original content to download multimedia: https://www.prnewswire.com/news-releases/amobear-studio-releases-the-first-nft-multiverse-game—heroseri-301490387.html
SOURCE Amobear
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– Playtika Holding Corp. (NASDAQ: PLTK) today released financial results for its fourth quarter for the period ending December 31, 2021 .
Fourth Quarter 2021 Financial Highlights:
2021 Financial Highlights:
Robert Antokol , Chief Executive Officer stated: «Our fourth quarter results demonstrate the ongoing strength of Playtika and the growth potential of the business. In 2021, we extended our leadership in mobile gaming and expanded our vision to reach beyond games into gamifiable apps with the acquisition of Redecor as the world of games, lifestyle and entertainment converge. In addition, we significantly enhanced our proprietary technological edge including our Boost platform, which continues to be a differentiator for the company. We are excited by the opportunities that Playtika can achieve, and I want to thank our employees for their tireless work and dedication in making this possible.»
Craig Abrahams , President and Chief Financial Officer, added: «Our results exceeded our latest guidance for both revenue and Adjusted EBITDA for the year and January started the year strong. Fourth quarter revenue growth accelerated to 13% year-over-year, driven by sustained execution across our portfolio with our casual games now comprising over 50% of revenue. This was achieved with year-over-year eCPI growth of only 5.8% which demonstrates the strength of our proprietary user acquisition technology helping to continue to support strong margins.»
Fourth Quarter 2021 Operational Highlights
January Operational Highlights Update
Company To Pursue Strategic Alternatives
Playtika separately announced today that its Board of Directors has initiated a process to evaluate the Company’s potential strategic alternatives to maximize value for stockholders. As part of the process, the Board intends to consider a full range of strategic alternatives, which could include a sale of the company or other possible transactions.
Conference Call
Pursuant to the Company’s obligations under its credit agreement, Playtika will hold a conference call to discuss fourth quarter and 2021 results on March 1, 2022 at 5:30 a.m. Pacific time , 8:30 a.m. Eastern time , as originally scheduled. Given the circumstances, the Company will not be discussing any matters related to the process of evaluating strategic alternatives nor any forward looking items. The call and presentation associated with these results can be found at Playtika’s investor relations website: https://investors.playtika.com at that time.
Summary Operating Results of Playtika Holding Corp.
Three months ended December 31,
Year ended December 31,
(in millions of dollars, except percentages, Average DPUs, and ARPDAU)
2021
2020
2021
2020
Revenues
$ 649.0
$ 573.5
$ 2,583.0
$ 2,371.5
Total cost and expenses
$ 537.0
$ 431.2
$ 2,020.8
$ 1,984.3
Operating income
$ 112.0
$ 142.3
$ 562.2
$ 387.2
Net income
$ 102.3
$ 76.0
$ 308.5
$ 92.1
Adjusted EBITDA
$ 212.5
$ 210.4
$ 982.7
$ 941.6
Net income margin
15.8%
13.3%
11.9%
3.9%
Adjusted EBITDA margin
32.7%
36.7%
38.0%
39.7%
Non-financial performance metrics
Average DAUs
10.3
10.5
10.4
11.2
Average DPUs (in thousands)
311
272
300
285
Average Daily Payer Conversion
3.0%
2.6%
2.9%
2.6%
ARPDAU
$ 0.68
$ 0.59
$ 0.68
$ 0.58
Average MAUs
33.0
31.2
34.0
34.2
About Playtika Holding Corp.
Playtika Holding Corp. is a mobile gaming entertainment market leader with 35 million monthly active users across a portfolio of multiple games titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel , and guided by a mission to entertain the world through infinite ways to play, Playtika has 20 offices worldwide and a talent base of over 4,000 employees.
Forward Looking Information
This press release may contain forward-looking statements within the meaning of federal securities laws. These forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Further, statements that include words such as «anticipate,» «believe,» «continue,» «could,» «estimate,» «expect,» «framework,» «intend,» «may,» «might,» «potential,» «present,» «preserve,» «project,» «pursue,» «range,» «will,» or «would,» or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements.
Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation:
Additional factors that may cause future events and actual results, financial or otherwise, to differ, potentially materially, from those discussed in or implied by the forward-looking statements include the risks and uncertainties discussed in our filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur, and reported results should not be considered as an indication of future performance. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
Except as required by law, we undertake no obligation to update any forward-looking statements for any reason to conform these statements to actual results or to changes in our expectations.
PLAYTIKA HOLDING CORP.
CONSOLIDATED BALANCE SHEETS
(In millions, except for per share data)
December 31,
2021
2020
ASSETS
Current assets
Cash and cash equivalents
$ 1,017.0
$ 520.1
Short-term bank deposits
100.1
—
Restricted cash
2.0
3.5
Accounts receivable
143.7
129.3
Prepaid expenses and other current assets
72.9
101.6
Total current assets
1,335.7
754.5
Property and equipment, net
103.3
98.5
Operating lease right of use assets
89.4
73.4
Intangible assets other than goodwill, net
417.3
327.7
Goodwill
788.1
484.8
Deferred tax assets, net
38.3
28.5
Investment in unconsolidated entities
17.8
1.5
Other non-current assets
13.4
7.3
Total assets
$ 2,803.3
$ 1,776.2
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities
Current maturities of long-term debt
$ 12.2
$ 104.6
Accounts payable
45.7
34.6
Operating lease liabilities, current
17.2
16.4
Accrued expenses and other current liabilities
494.6
484.8
Total current liabilities
569.7
640.4
Long-term debt
2,422.9
2,209.8
Contingent consideration
28.7
—
Employee related benefits and other long term liabilities
23.7
16.1
Operating lease liabilities, long-term
82.3
67.0
Deferred tax liabilities, net
53.7
86.4
Total liabilities
3,181.0
3,019.7
Commitments and contingencies
Stockholders’ equity (deficit)
Common stock of US $0.01 par value: 1,600.0 shares authorized and 411.1 issued and outstanding at December 31, 2021; 400.0 shares authorized and 391.1 shares issued and outstanding as of December 31, 2020
4.1
3.9
Additional paid-in capital
1,032.9
462.3
Accumulated other comprehensive loss
3.2
16.7
Accumulated deficit
(1,417.9)
(1,726.4)
Total stockholders’ deficit
(377.7)
(1,243.5)
Total liabilities and stockholders’ equity (deficit)
$ 2,803.3
$ 1,776.2
PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions, except for per share data)
Three months ended
December 31,
Year ended
December 31,
2021
2020
2021
2020
Revenues
$ 649.0
$ 573.5
$ 2,583.0
$ 2,371.5
Costs and expenses
Cost of revenue
182.9
173.5
729.0
712.2
Research and development expenses
118.2
76.8
386.7
268.9
Sales and marketing expenses
154.0
134.2
581.7
502.0
General and administrative expenses
81.9
46.7
323.4
501.2
Total costs and expenses
537.0
431.2
2,020.8
1,984.3
Income from operations
112.0
142.3
562.2
387.2
Interest expense and other, net
29.2
43.7
153.8
192.8
Income before income taxes
82.8
98.6
408.4
194.4
Provision (benefit) for income taxes
(19.5)
22.6
99.9
102.3
Net income
102.3
76.0
308.5
92.1
Other comprehensive income (loss)
Foreign currency translation
(5.9)
10.7
(18.6)
19.6
Change in fair value of derivatives
6.0
—
5.1
—
Total other comprehensive income (loss)
0.1
10.7
(13.5)
19.6
Comprehensive income
$ 102.4
$ 86.7
$ 295.0
$ 111.7
Net income per share attributable to common stockholders, basic
$ 0.25
$ 0.19
$ 0.75
$ 0.24
Net income per share attributable to common stockholders, diluted
$ 0.25
$ 0.19
$ 0.75
$ 0.24
Weighted-average shares used in computing net income per share attributable to common stockholders, basic
409.6
391.1
408.9
384.7
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted
411.6
392.0
411.0
384.7
PLAYTIKA HOLDING CORP.
CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
Year ended December 31,
2021
2020
Cash flows from operating activities
$ 551.7
$ 517.7
Cash flows from investing activities
Purchase of property and equipment
(47.4)
(54.1)
Capitalization of internal use software costs
(33.1)
(33.3)
Purchase of intangible assets
(19.1)
(10.7)
Payments for business combinations, net of cash acquired
(394.1)
—
Short-term bank deposits
(100.0)
—
Purchase of long-term investments
(17.8)
—
Other investing activities
2.1
—
Net cash used in investing activities
(609.4)
(98.1)
Cash flows from financing activities
Proceeds from bank borrowings
887.7
—
Repayments on bank borrowings
(965.3)
—
Proceeds from issuance of unsecured notes, net
178.9
—
Proceeds from issuance of common stock, net
470.4
(2.4)
Payment of debt issuance costs
(12.0)
—
Borrowings under revolving credit facility
—
250.0
Repayment of term loan and revolving credit facility
—
(408.3)
Payment of tax withholdings on stock-based payments
—
(15.7)
Net cash out flow for business acquisitions and other
—
(4.9)
Net cash provided by (used in) financing activities
559.7
(181.3)
Effect of exchange rate changes on cash and cash equivalents
(6.6)
13.3
Net change in cash, cash equivalents and restricted cash
495.4
251.6
Cash, cash equivalents and restricted cash at the beginning of the period
523.6
272.0
Cash, cash equivalents and restricted cash at the end of the period
$ 1,019.0
$ 523.6
Non-GAAP Financial Measures
Adjusted EBITDA is a non-GAAP financial measure and should not be construed as an alternative to net income as an indicator of operating performance, nor as an alternative to cash flow provided by operating activities as a measure of liquidity, or any other performance measure in each case as determined in accordance with GAAP.
Below is a reconciliation of net income, the closest GAAP financial measure, to Adjusted EBITDA. We define Adjusted EBITDA as net income before (i) interest expense, (ii) interest income, (iii) provision for income taxes, (iv) depreciation and amortization expense, (v) stock-based compensation, (vi) legal settlements, (vii) contingent consideration, (viii) acquisition and related expenses, (ix) long-term compensation plan, (x) M&A related retention payments, and (xi) certain other items. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by revenues.
We supplementally present Adjusted EBITDA and Adjusted EBITDA Margin because they are key operating measures used by our management to assess our financial performance. Adjusted EBITDA adjusts for items that we believe do not reflect the ongoing operating performance of our business, such as certain noncash items, unusual or infrequent items or items that change from period to period without any material relevance to our operating performance. Management believes Adjusted EBITDA and Adjusted EBITDA Margin are useful to investors and analysts in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. Management uses Adjusted EBITDA and Adjusted EBITDA Margin to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, and to compare our performance against other peer companies using similar measures. We evaluate Adjusted EBITDA and Adjusted EBITDA Margin in conjunction with our results according to GAAP because we believe they provide investors and analysts a more complete understanding of factors and trends affecting our business than GAAP measures alone. Adjusted EBITDA and Adjusted EBITDA Margin should not be considered as alternatives to net income as a measure of financial performance, or any other performance measure derived in accordance with GAAP.
Adjusted EBITDA and Adjusted EBITDA Margin as calculated herein may not be comparable to similarly titled measures reported by other companies within the industry and are not determined in accordance with GAAP. Our presentation of Adjusted EBITDA and Adjusted EBITDA Margin should not be construed as an inference that our future results will be unaffected by unusual or unexpected items.
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
(In millions)
Three months ended
December 31,
Year ended
December 31,
(In millions)
2021
2020
2021
2020
Net income
$ 102.3
$ 76.0
$ 308.5
$ 92.1
Provision for income taxes
(19.5)
22.6
99.9
102.3
Interest expense and other, net
29.2
43.7
153.8
192.8
Depreciation and amortization
42.5
34.2
145.5
119.2
EBITDA
154.5
176.5
707.7
506.4
Stock-based compensation (1)
27.6
11.2
100.4
276.0
Acquisition and related expenses (2)
(6.5)
1.4
36.7
31.4
Legal settlement (3)
—
—
—
37.6
Long-term cash compensation (4)
24.2
16.3
112.7
67.6
M&A related retention payments (5)
12.2
1.0
21.3
15.1
Other items (6)
0.5
4.0
3.9
7.5
Adjusted EBITDA
$ 212.5
$ 210.4
$ 982.7
$ 941.6
Net income margin
15.8%
13.3%
11.9%
3.9%
Adjusted EBITDA margin
32.7%
36.7%
38.0%
39.7%
(1)
Reflects, for the three months and year ended December 31, 2021 and 2020, stock-based compensation expense related to the issuance of equity awards to certain of our employees.
(2)
Amounts for the year ended December 31, 2021 primarily relate to bonus expenses paid as a result of the successful initial public offering of the Company’s stock in January 2021. Amounts for the three months ended December 31, 2021 also include adjustments to contingent consideration payable recorded after the acquisition date. Amounts for the three months and year ended December 31, 2020 includes third-party fees for actual or planned acquisitions, including related legal, consulting and other expenditures.
(3)
Reflects legal settlement expense of $37.6 million for the year ended December 31, 2020.
(4)
Includes expenses recognized for grants of annual cash awards to employees pursuant to our Retention Plans, which awards are incremental to salary and bonus payments, and which plans expire in 2024.
(5)
Includes retention awards to key individuals associated with acquired companies as an incentive to retain those individuals on a long-term basis.
(6)
Amounts for the years ended December 31, 2021 and 2020 include business optimization expenses.
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SOURCE Playtika
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