Business
PLAYSTUDIOS to Become the First Publicly Listed Mobile Games Company Offering Players Real-World Rewards
One-of-a-kind playAWARDS Loyalty Platform drives growth in its existing portfolio of games, de-risks new game launches, and supports consolidation
About this update from Playstudios, Inc.
[{"type":"text","content":"\n\nOne-of-a-kind playAWARDS Loyalty Platform drives growth in its existing portfolio of games, de-risks new game launches, and supports consolidation\n\n\nCapitalized to act on strategically compelling acquisitions and growth opportunities\n\n\nInstitutional Investors including funds and accounts managed by BlackRock, ClearBridge Investments, and Neuberger Berman Funds, together with MGM Resorts International, Commit to an Upsized $250 Million Common Equity PIPE\n\n\nTransaction Values PLAYSTUDIOS at Approximately $1.1 Billion\n\n\nPLAYSTUDIOS Founder & CEO Andrew Pascal to Continue Leading the Company\n\n\nInvestor Call Scheduled for Tuesday, February 2, 2021 at 8:30 AM EST\n\n\n LAS VEGAS & MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--\nPLAYSTUDIOS, Inc. (“PLAYSTUDIOS” or the “Company”), an award-winning developer of free-to-play casual games for mobile and social platforms that offer real-world rewards to loyal players, and Acies Acquisition Corp. (Nasdaq: ACAC) (“Acies”), a publicly-traded special purpose acquisition company, announced today that they have entered into a definitive merger agreement that will result in PLAYSTUDIOS becoming a publicly listed company. Upon the closing of the transaction, the combined company will be named PLAYSTUDIOS and remain listed on Nasdaq under the new ticker symbol “MYPS.”\n\nPLAYSTUDIOS has developed a portfolio of beautifully designed, top-ranked games that have attracted a loyal following due, in part, to the company’s unmatched playAWARDS Loyalty Program. The program lets players earn real-world rewards from a curated collection of over 80 partners and 275 entertainment, retail, travel, leisure, and gaming brands. To date, the PLAYSTUDIOS community has used its in-app loyalty points to purchase over 10 million rewards with a retail value of nearly $500 million. The Company has been named a Top Developer by App Annie, the gaming industry’s leader in app analytics and aggregated app performance data.\n\nAcies’ management team is led by Chairman Jim Murren, formerly Chairman and CEO of MGM Resorts International, and Co-Chief Executive Officers Dan Fetters and Edward King, formerly Managing Directors at Morgan Stanley. PLAYSTUDIOS is led by Founder, Chairman, and Chief Executive Officer Andrew Pascal, who will continue to lead the combined company along with his current founder-led managem...