Mobile game developer Playtika files for an estimated $1 billion IPO

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.

The article Mobile game developer Playtika files for an estimated $1 billion IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.