HomeMost PopularInvestingPlaytika Expands Mobile Gaming Portfolio with Acquisition of Innplay Labs

Playtika Expands Mobile Gaming Portfolio with Acquisition of Innplay Labs

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Playtika Holding Corp. (PLTK) recently announced its acquisition of Innplay Labs, a highly-rated mobile gaming studio in Israel, known for its popular game β€˜Animals & Coins’. This strategic move further strengthens PLTK’s position in the mobile gaming market and presents a promising growth opportunity in the Luck Battle genre. PLTK remains committed to delivering outstanding gaming experiences to players worldwide.

Focus on Expansion

Playtika has been performing well in the mobile gaming industry, with a 12.3% increase in its stock price this year compared to the industry’s 11% rise. The company has a diverse portfolio of game titles and a track record of optimizing high-growth potential intellectual property. The recent acquisition of Innplay Labs is a testament to Playtika’s commitment to investing in Israel as a global technology and innovation hub.

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In addition to the acquisition of Innplay Labs, Playtika recently acquired Youda Games’ portfolio from Azerion Group N.V., including the popular card-themed title Governor of Poker 3. These strategic moves align with PLTK’s incremental growth strategy, leveraging its exceptional LiveOps expertise and proprietary technology to optimize and scale games.

Playtika has solid prospects, with the Zacks Consensus Estimate projecting a 24.6% year-over-year growth in earnings per share (EPS) for 2023. The company also has a long-term earnings growth rate of 10.1%. With a VGM Score of A, supported by Growth and Value scores of A and a Momentum Score of C, Playtika is well-positioned for future success.

Zacks Rank & Key Picks

Playtika currently holds a Zacks Rank #3 (Hold). For investors looking for better-ranked stocks in the Consumer Discretionary sector, here are a few options:

  • Live Nation Entertainment, Inc. (LYV) – Zacks Rank #1 (Strong Buy)
  • Hilton Worldwide Holdings Inc. (HLT) – Zacks Rank #2 (Buy)
  • OneSpaWorld Holdings Limited (OSW) – Zacks Rank #2 (Buy)

These stocks have shown strong performance and have positive growth projections for sales and EPS.

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Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report

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OneSpaWorld Holdings Limited (OSW) : Free Stock Analysis Report

Playtika Holding Corp. (PLTK) : Free Stock Analysis Report

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

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