Activision Blizzard Invests $100 Million Into Casual And Casino Game Dev PlayStudios
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Activision Blizzard has invested more than $100 million into 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.
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.
In addition to the investment from Activision Blizzard, PlayStudios just announced a $75 million, five-year credit facility to "support its future growth initiatives."
Activision did not provide any commentary around its investment into PlayStudios, but the company likely sees a lot of growth potential to increase the return on its investment. It's also not the first time the Call of Duty giant has invested in PlayStudios, as it initially did so 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.
