The mobile casino company posted strong fourth-quarter financial results, increasing its net profits for the full fiscal year 2021.
On a year-to-year basis, Playtika earned approximately $2.6 billion in sales, up from $2.4 billion in 2020, however while this represents a roughly 9% rise, the company's full-year net income increased by 235%.
Its net income in 2020 was $92.1 million, but by 2021, it had risen by more than $200 million to more than $308 million.
The operational highlights of Playtika in Q4 explain its good financial performance. The company's average daily payer conversion rate improved to 3%, up from 2.6% year on year, while income from its casual games portfolio surged by 31.5%, accounting for more than half of overall revenue at Playtika.
"Our fourth-quarter results demonstrate Playtika's ongoing strength and the business's growth potential," stated Playtika CEO Robert Antokol.
"With the acquisition of Redecor in 2021, we extended our leadership in mobile gaming and expanded our vision to reach beyond games into gamifiable apps as the worlds of games, lifestyle, and entertainment converge."
Playtika also offered an update on its January financial performance, reporting that sales increased by 9.2% year over year and 7.2% month over month.
"Our results exceeded our latest guidance for both revenue and Adjusted EBITDA for the year, and January started the year strong," said Craig Abrahams, Playtika President and Chief Financial Officer (CFO).
"Fourth-quarter revenue growth accelerated to 13% year on year, driven by consistent execution across our portfolio, with casual games now accounting for more than 50% of revenue."
