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Playtika Goes Public As Spotlight Turns To Gaming Companies聽

Mobile gaming company 鈥檚 stock opened at $33.40 on Friday, 23 percent above its initial public offering price.

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The Israel-based company raised $1.9 billion through its IPO before it began trading on the Nasdaq on Friday. At its current share price, the company has a valuation of about $11 billion.

Playtika, which is perhaps best known for its casino games, is one of a handful of gaming and gaming-related companies to go public in recent months. Sports betting company and esports company went public via a special purpose acquisition company last year, and video game software development company went public through an IPO.聽

And next week, video game company is expected to go public through a direct listing.

Playtika reported nearly $1.8 billion in revenue for the first nine months of 2020, up from about $1.4 billion during the same period in 2019.

Gaming companies have seen the number of players and user engagements increase over the last year as the COVID-19 pandemic forced people to seek at-home entertainment.聽

Playtika raised $1.5 million in a seed round led by before being acquired by in October 2016, according to 附近上门. Over the course of its lifetime, Playtika has acquired five companies including and .

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