Playtika has finally decided to stop looking for a buyer. The stock jumps

Playtika announced that its board of directors has completed the review of strategic alternatives and decided to continue as an independent company, after hiring Morgan Stanley about six months ago. The stock is rising in pre-market trading. The company beat third-quarter expectations with revenues of $674 million and net profit of $40.4 million.

Gaming company Playtika announced that its board of directors has completed the process of reviewing strategic alternatives and decided that the company will continue to operate as an independent publicly traded company. The decision was made after Playtika hired Morgan Stanley about six months ago as a financial advisor to explore ways to unlock value, which was seen as an attempt to find a buyer. The stock is rising in pre-market trading on Nasdaq. At the same time, Playtika beat analyst expectations in the third quarter with revenues of approximately $674 million, almost unchanged from the same quarter last year, and net profit of $40.4 million. Adjusted EBITDA grew by 15.9% to $252 million. CEO Robert Antokol stated that the games were built to succeed over time, noting an 88% increase in Disney Solitaire. CFO Tai Li noted that marketing expenses were reduced as planned, leading to a quarterly record in EBITDA.