Activision Blizzard Clarifies Reports About PlayStudios
Activision Blizzard did not invest $100 million into PlayStudios nor did it increase the size of its investment.
Activision Blizzard has clarified recent news reports in regards to PlayStudios, the developer of numerous casual and casino games like My Vegas Bingo, My Vegas Slots, and more. PlayStudios also worked with Konami on My Konami Slots, featuring Konami games. A spokesperson for the company told GameSpot that Activision Blizzard did not invest $100 million into the company or increase its investment. The Call of Duty company did receive shares from a recent merger, which is why it is now making that disclosure per rules set forth by the SEC. GameSpot regrets the error.
"Activision Blizzard did not invest $100M into PLAYSTUDIOS nor increase its investment in the company. We owned an interest in the original PLAYSTUDIOS that was recently party to a merger with a listed entity. As a result, we received shares in the new entity and are now disclosing that ownership as required by the SEC," the spokesperson said.
PlayStudios and Acies recently merged, and the two companies are, as of June 22, trading on Nasdaq under the ticker symbols MYPS and MYPSW.
You may not know PlayStudios by name, but the company is making moves of late, and this injection of cash from Activision is just the latest example of that. In 2021 so far, the company launched new partnerships with major brands such as IHG Hotels & Resorts, Innovative Music and Wine Brand City Winery, Global Hospitality Brand, Sycuan Casino Resort, Singing Hills Golf Resort, Las Vegas Ballpark, and MGM Resorts.
"Mobile gaming is a highly competitive industry, and long ago we recognized the need for something that is compelling and unique to rise above the noise, while also rewarding players for their time spent in the games," founder and CEO Andrew Pascal said.
PlayStudios just announced a $75 million, five-year credit facility to "support its future growth initiatives."
Activision Blizzard initially picked up an interest in PlayStudios all the way back in 2011. It's also worth noting that mobile is Activision Blizzard's biggest platform by revenue already, outpacing sales on console and PC. Looking ahead, Activision said it plans to bring every franchise it has to mobile.
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