PLAYSTUDIOS, Inc. (MYPS) caused an increase of 5.26% – Learn why?

PLAYSTUDIOS, Inc. (MYPS) has seen an increase of 5.26% in the aftermarket. However, the last trading session closed at $4.18 with an increase of 7.73%.

Exclusive Rights to Tetris – Latest Updates

MYPS reported on 29th November 2021 that it will be the official creator and publisher of the renowned Tetris game series for mobile devices, expanding into the popular puzzle game genre. Moreover, MYPS has acquired the exclusive global, multi-title mobile rights for the Tetris game (excluding China) through a strategic relationship with The Tetris Company and N3TWORK. PLAYSTUDIOS will continue to support and develop the current Tetris mobile products while redesigning and eventually releasing a new and enhanced version of the game that utilizes the company’s program. The new game’s design will be influenced by popular casual gaming formats, and it will include new features and mechanisms that will herald a new age for Tetris on mobile.

What’s Next?

Tetris, created in 1984 by software programmer Alexey Pajitnov, has a devoted fan base and is routinely listed among the top games of all time. It has lately become a popular game on the Apple Arcade. With the addition of Tetris games to the PLAYSTUDIOS portfolio, millions of players around the world will be introduced to playAWARDS, a loyalty program that allows engaged fans to earn loyalty currency during free gameplay that can be exchanged for real-world rewards from over 275 well-known entertainment, travel, leisure, and lifestyle brands. In addition, PLAYSTUDIOS may also tap into The Tetris Company’s vast library of Tetris game mechanics and experiences, as well as bring new features, innovations, and game adaptations to the Tetris environment.

Third Quarter 2021 Results – How was the quarter?

MYPS reported third-quarter 2021 results on 11th November 2021. The company reported the revenue was $70.6 million, $69.7 million more than in the same quarter of the previous year. Moreover, increases in daily payer conversion and expenditure per player drove this year’s results.

The revenue increased 4.7 percent to $215.5 million whereas net income was $11.2 million, compared to $5.1 million in the same quarter of the previous year. The third quarter’s results reflect the ongoing efforts to plant the seeds of long-term growth. The investments in the playAWARDS platform, the development of my VIP loyalty program, and the addition of new games to the library will keep the company at the forefront of Rewarded Play.