Playtika Holding, a leading developer of casino and other mobile games, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $1 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.
The Herzliya, Israel-based company 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. Playtika Holding filed confidentially on October 16, 2020. Morgan Stanley, Credit Suisse, Citi, Goldman Sachs, UBS Investment Bank and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
