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Playtika Holding Corp . (NASDAQ:PLTK), a gaming company with a market capitalization of $1.97 billion and strong financial health according to InvestingPro metrics, has entered into a Fourth Amendment to its existing Credit Agreement, according to a recent 8-K filing with the Securities and Exchange Commission. The company’s current financial position shows liquid assets exceeding short-term obligations, with a healthy current ratio of 1.56. The amendment, effective as of Monday, April 23, 2025, revises the terms of the company’s Revolving Credit Facility.
The amendment results in a decrease in the aggregate principal amount of the facility from $600 million to $550 million, representing a modest adjustment to the company’s total debt position of $2.49 billion. Additionally, the maturity of the Revolving Credit Facility has been extended to September 11, 2027, contingent upon the fulfillment of certain conditions. According to InvestingPro analysis, which offers comprehensive financial health assessments for over 1,400 US stocks, Playtika maintains a GOOD overall financial health score of 2.71.
Interest rates for borrowings under the amended Revolving Credit Facility will be based on either a term rate pegged to the secured overnight financing rate (Term SOFR) with a 0.00% floor or a base rate determined by the highest of three reference rates plus an applicable margin. The applicable margin is set at 3.00% per annum for Term SOFR loans and 2.00% per annum for base rate loans, with potential step-downs based on the company’s first lien net leverage ratio.
Playtika is also obligated to pay a quarterly commitment fee to lenders, calculated at 0.50% of any unused commitments, subject to potential reductions based on the company’s leverage ratio.
The filing indicates that UBS AG, Stamford Branch (as successor in interest to Credit Suisse AG, Cayman Islands Branch), serves as the administrative agent and collateral agent for the agreement. With an EBITDA of $619.9 million in the last twelve months, Playtika demonstrates strong operational performance. For detailed analysis and additional insights, investors can access the full Pro Research Report available on InvestingPro, which transforms complex financial data into actionable intelligence.
This adjustment to Playtika’s financial structure is disclosed in the context of the company’s ongoing financial management and is based on a press release statement. The full text of the Fourth Amendment is included as an exhibit to the SEC filing for those seeking more detailed information.
In other recent news, Playtika Holding Corp. reported a significant earnings miss for the fourth quarter, with a loss of $0.04 per share, falling short of the expected $0.18 in earnings per share. Despite this, the company exceeded revenue expectations, posting $650.3 million compared to the anticipated $617.66 million, marking a 1.9% increase year-over-year. Playtika’s Direct-to-Consumer platforms revenue grew 8% year-over-year, while casual games revenue increased by 11.3%, although social casino-themed games saw a 10% decline. The company provided guidance for fiscal year 2025, projecting revenue between $2.80 billion and $2.85 billion, surpassing analyst expectations of $2.75 billion. In terms of analyst ratings, BofA Securities upgraded Playtika to Buy from Underperform, citing the company’s high profitability and strong market position, with a new price objective of $6.50. Conversely, Baird downgraded the stock from Outperform to Neutral, lowering the price target to $6.00 due to concerns over industry challenges and issues within Playtika’s core franchises. Additionally, Playtika announced the upcoming retirement of its Chief Accounting Officer, Troy Vanke, effective June 30, 2025. Investors are likely to monitor these developments closely as the company navigates these changes.
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