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1. Company Snapshot

1.a. Company Description

Playtika Holding Corp.develops mobile games in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally.The company owns a portfolio of casual and casino-themed games.


It distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google, and other web and mobile platforms and its own proprietary platforms.The company was founded in 2010 and is headquartered in Herzliya Pituarch, Israel.Playtika Holding Corp.


is a subsidiary of Playtika Holding Uk Ii Limited.

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1.b. Last Insights on PLTK

Playtika Holding Corp.'s recent performance was positively driven by its Q3 2025 earnings beat, with revenue of $674.6 million and Direct-to-Consumer (DTC) revenue of $209.3 million, up 8.7% and 20.0% year-over-year, respectively. The company's DTC platforms revenue increased 19.0% sequentially. Additionally, new game integrations, such as the NFL-themed features in its World Series of Poker mobile game, are expected to drive growth. Institutional investors, including Bank of Montreal Can, have also taken new positions in the company.

1.c. Company Highlights

2. Playtika's Q3 2025 Earnings: A Strong Performance

Playtika reported revenue of $674.6 million for Q3 2025, representing an 8.7% year-over-year increase, although a 3.1% sequential decline. The company's GAAP net income was $39.1 million, up 17.8% sequentially but down 0.5% year-over-year. Adjusted EBITDA reached $217.5 million, a 30.2% sequential increase and a 10.3% year-over-year rise. Earnings per share (EPS) came in at $0.18, beating estimates of $0.17. Direct-to-consumer (D2C) revenue was a highlight, crossing the $200 million mark at $209.3 million, up 19% sequentially and 20% year-over-year, driven by the expansion of D2C channels and the company's ability to route transactions through direct-to-consumer platforms, as noted by Craig Abrahams, "the expansion of D2C channels and our ability to route transactions through direct-to-consumer platforms."

Publication Date: Nov -10

📋 Highlights
  • Disney Solitaire's Annualized Run Rate:: Surpassed $200 million, making it the fastest-growing title in Playtika's 15-year history.
  • D2C Revenue Growth:: Reached $209.3 million (31% of total revenue), up 19% sequentially and 20% year-over-year.
  • Adjusted EBITDA Performance:: Rose to $217.5 million, reflecting a 30.2% sequential increase and 10.3% year-over-year growth.
  • Slotomania Revenue Decline:: Dropped to $68.5 million, a 20.8% sequential decrease and 46.7% year-over-year decline.
  • Cash Reserves:: Playtika held $640.8 million in cash, cash equivalents, and short-term investments as of September 30, 2025.

Segment Performance

The company's key titles showed varied performance. Bingo Blitz revenue was $162.6 million, up 1.5% sequentially and 1.7% year-over-year. In contrast, Slotomania revenue declined 20.8% sequentially and 46.7% year-over-year to $68.5 million, while June Journey revenue was $68.3 million, down 1.2% sequentially and 2.7% year-over-year. The success of Disney Solitaire, part of the SuperPlay studio, was a significant factor, achieving an annualized run rate above $200 million and influencing the development of future games.

Valuation and Outlook

With a P/E Ratio of 18.56 and an EV/EBITDA of 6.94, the market appears to have priced in a certain level of growth. Analysts estimate next year's revenue growth at 2.8%. The company's strong D2C growth and the success of Disney Solitaire are positives, but the decline in Slotomania revenue is a concern. Playtika's cash position, with $640.8 million in cash, cash equivalents, and short-term investments as of September 30, provides a solid foundation for future investments and potential returns to shareholders, indicated by a Dividend Yield of 9.37%.

Operational Highlights

Craig Abrahams mentioned that the company is constantly evaluating its capital allocation framework, with a focus on allocating marketing dollars effectively and investing in user retention. The upcoming game, Jackpot Tour, and the ongoing pipeline opportunities are expected to drive future growth. The company's disciplined approach to investment and its operating model have contributed to the strong Adjusted EBITDA margin.

3. NewsRoom

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World Series of Poker® Mobile Game Announces Integration to Feature NFL Collectibles, Team Challenges and Exclusive Rewards for a Limited Time

Dec -04

Source: prnewswire.com

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World Series of Poker® Mobile Game Announces Integration to Feature NFL Collectibles, Team Challenges and Exclusive Rewards for a Limited Time

Dec -01

Source: prnewswire.com

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Bank of Montreal Can Acquires New Position in Playtika Holding Corp. $PLTK

Nov -22

Source: defenseworld.net

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Playtika Holding Corp. (PLTK) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

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Playtika (PLTK) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

Nov -06

Source: zacks.com

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Playtika Holding (PLTK) Tops Q3 Earnings and Revenue Estimates

Nov -06

Source: zacks.com

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Playtika Holding Corp. Reports Q3 2025 Financial Results

Nov -06

Source: globenewswire.com

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33,000 Shares in Playtika Holding Corp. $PLTK Purchased by Nisa Investment Advisors LLC

Nov -05

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.90%)

6. Segments

Third-party Platforms

Expected Growth: 1.8%

Third-party platforms from Playtika Holding Corp. achieved 1.8% growth driven by increasing demand for social casino games, strategic partnerships, and expansion into new markets. Additionally, the company's focus on user acquisition and retention, as well as its investment in innovative game development, contributed to this growth.

Direct-to-Consumer Platforms

Expected Growth: 2.2%

Playtika Holding Corp.'s Direct-to-Consumer Platforms' 2.2% growth is driven by increasing mobile gaming adoption, retention of existing users through engaging content, and strategic acquisitions expanding its portfolio. Additionally, the company's data-driven approach to user acquisition and monetization, as well as its focus on emerging markets, contribute to its growth momentum.

7. Detailed Products

Slotomania

A social casino game that offers a variety of slot machines and other casino-style games

House of Fun

A social casino game that offers a range of slot machines, video poker, and other casino-style games

Caesars Casino

A social casino game that offers a range of slot machines, video poker, and other casino-style games

World Series of Poker (WSOP)

A social poker game that allows players to compete in online poker tournaments and games

Pac-Man Slots

A social casino game that combines the classic Pac-Man arcade game with slot machine gameplay

Vegas Downtown Slots

A social casino game that offers a range of slot machines and other casino-style games

8. Playtika Holding Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Playtika Holding Corp. operates in the social gaming industry, where substitutes are readily available. However, the company's strong brand recognition and user engagement mitigate the threat of substitutes.

Bargaining Power Of Customers

Playtika Holding Corp.'s customers have limited bargaining power due to the company's diversified revenue streams and lack of dependence on a single customer.

Bargaining Power Of Suppliers

Playtika Holding Corp. has a diversified supply chain, which reduces the bargaining power of its suppliers. The company's scale and financial resources also give it an upper hand in negotiations with suppliers.

Threat Of New Entrants

The social gaming industry is highly competitive, and new entrants can easily enter the market. However, Playtika Holding Corp.'s strong brand recognition and established user base provide a barrier to entry for new competitors.

Intensity Of Rivalry

The social gaming industry is highly competitive, with many established players vying for market share. Playtika Holding Corp. faces intense competition from rivals such as Zynga and Electronic Arts.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 110.00%
Debt Cost 7.87%
Equity Weight -10.00%
Equity Cost 7.87%
WACC 7.87%
Leverage -1099.73%

11. Quality Control: Playtika Holding Corp. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Sopra Steria

A-Score: 5.2/10

Value: 8.3

Growth: 5.7

Quality: 5.0

Yield: 4.4

Momentum: 2.5

Volatility: 5.3

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CD Projekt

A-Score: 5.1/10

Value: 0.0

Growth: 7.6

Quality: 8.4

Yield: 1.2

Momentum: 10.0

Volatility: 3.7

1-Year Total Return ->

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Playtika

A-Score: 4.5/10

Value: 8.4

Growth: 3.7

Quality: 5.2

Yield: 8.1

Momentum: 0.0

Volatility: 1.7

1-Year Total Return ->

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Embracer Group

A-Score: 4.3/10

Value: 7.5

Growth: 9.9

Quality: 7.9

Yield: 0.0

Momentum: 0.0

Volatility: 0.3

1-Year Total Return ->

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Keywords Studios

A-Score: 3.8/10

Value: 1.5

Growth: 7.9

Quality: 4.8

Yield: 3.1

Momentum: 5.0

Volatility: 0.3

1-Year Total Return ->

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Ubisoft

A-Score: 3.4/10

Value: 7.8

Growth: 3.1

Quality: 2.7

Yield: 0.0

Momentum: 5.5

Volatility: 1.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.2$

Current Price

4.2$

Potential

-0.00%

Expected Cash-Flows