Sees FY23 EBITDA at $47.5M-$52.5M vs. $38.3M in FY22. CEO Andrew Pascal says: "Looking forward, we have exciting plans for 2023. We remain committed to diversifying our collection of games, expanding our player network, and demonstrating the power of playAWARDS. In support of this, we have a balanced portfolio of new, early-stage, and evergreen initiatives, including new Tetris games, optimizations for our Brainium suite of casual games, and new innovations for our social casino suite. This should allow us to drive organic growth as we continue to act on additional strategic M&A opportunities. As part of our ongoing focus on optimizing our execution, we recently initiated some organizational changes, realigning and consolidating key business activities. Under this new structure, we believe we can better maximize the productivity of our assets and drive higher returns on capital. We’ve also been actively repurchasing our stock in the open market, spending $10 million to purchase 2.4 million shares of our stock. Finally, we are introducing 2023 guidance that represents revenue and AEBITDA growth from 2022 levels and a marked increase in our overall profitability. We are excited about the initiatives we are undertaking in 2023 but remain cautious given the continuing challenges in our marketplace and the economy overall."
Published first on TheFly
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