Playtika Files Draft Registration With US SEC

A draft registration statement has been filed by social gaming giant Playtika with the US Securities and Exchange Commission (SEC) ahead of an initial public offering of its common stock.

The registration statement was filed confidentially, and it is still important to decide the number of shares to be sold and their price range.

Reuters reports earlier this year indicated, however, that the company would look to raise $1bn from the IPO, which would value the company at about $10bn.

The SEC shall, with the registration declaration now filed, carry out a review of the undertaking before the offering can take effect, which remains subject to market conditions and other conditions.

The company is owned by a group of Chinese technology investors, led by Shanghai Giant Network Technology and including Jack Ma’s Yunfeng Capital, founder of Alibaba, which agreed in August 2016 to buy Playtika from Caesars Entertainment in a $4.4 billion transaction.

Since 2011, Caesars has owned the company, under whose leadership Playtika has developed from a 10-person start-up to a company employing more than 1,300 staff.

Playtika has remained independently managed under the leadership of Co-Founder and Chief Executive Robert Antokol since the acquisition of the Chinese consortium.

Headquartered in Israel, it has expanded to include 19 offices and hires more than 3,500 employees, with more than 30 million monthly active users drawn to its games. Although it was originally based on social casino games, it has grown into different verticals of free-to-play.

After DoubleU Games-owned DoubleDown Interactive announced it will look to list on the Nasdaq in June, it is the second major social gaming firm to announce plans for a public listing in 2020.

DoubleU then amended plans to make 11 million American Depositary Shares (ADS) available to investors, to raise $200 million, after initially targeting a $100 m IPO.

In July, however, it eventually postponed these plans, arguing that investor appetite had decreased as a result of the economic uncertainty generated by the pandemic of the novel coronavirus (Covid-19).