Israeli mobile studio Playtika has opened a new office in Lausanne, Switzerland.
The new location will work alongside the firm’s AI studio which is based in Israel. Lausanne’s office will serve as a hub for Playtika’s dedicated AI Research and Development team which was established in 2019.
At the start of the year, Playtika raised $1.8 billion after launching an Initial Public Offering. The publisher sold 69.5 million shares at $27 each.
The IPO exceeded expectations and as a result, Playtika reported a 20% rise in revenues in its Q1 financials, and is forecasting revenues of $2.6 billion for the fiscal year. Playtika Stock holders are not having a great year so far. The Company’s Stock is down 45% since its IPO.
Playtika is an Israel-based digital entertainment company that specializes in the development and publication of free to play mobile games. In 2021, Playtika had over 35 million monthly active users.