−Removed: Acies was incorporated on August 14, 2020 as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
+Added: Acies was incorporated on August 14, 2020 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
Acies completed its initial public offering in October 2020.
On June 21, 2021, Acies consummated the Acies Merger with Old PLAYSTUDIOS, pursuant to the Merger Agreement.
−Removed: In connection with the closing of the Acies Merger , we changed our name from Acies to PLAYSTUDIOS, Inc.
+Added: In connection with the closing of the Acies Merger , we changed our name to PLAYSTUDIOS, Inc.
PLAYSTUDIOS continues the existing business operations of Old PLAYSTUDIOS as a publicly traded company.
−Removed: Our website address is https://playstudios.com .
+Added: Our website address is www.playstudios.com .
Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are made available free of charge on our website as soon as reasonably practicable after we have electronically filed the material with, or furnished it to, the SEC.
−Removed: PLAYSTUDIOS is a leading developer of free-to-play casual games for mobile and social platforms.
+Added: PLAYSTUDIOS is a developer of free-to-play casual games for mobile and social platforms.
With a focus on creating immersive and engaging experiences, we have built a strong reputation for combining high-quality games that resonate with players worldwide with our groundbreaking playAWARDS loyalty platform, which enables players to earn real-world rewards from a global collection of hospitality, entertainment and leisure brands.
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We generate revenue primarily through the sale of in-game virtual currency and the monetization of player engagement.
−Removed: Although o ur games are available to players for free, we historically have derived substantially all of our revenues from the sale of in-game virtual currency when players make voluntary in-game purchases.
−Removed: By offering players the option to voluntarily purchase in-game virtual currency, we are able to generate a steady stream of revenue while maintaining a free-to-play model.
+Added: Although o ur games are available to players for free, we historically have derived a majority of our revenues from the sale of in-game virtual currency when players make voluntary in-game purchases.
+Added: By offering players the option to voluntarily purchase in-game virtual currency, we are able to generate meaningful revenue while maintaining a free-to-play model.
Additionally, we utilize in-game advertising as a means of further monetizing player engagement and enhancing our revenue streams.
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Our games, which include myVEGAS Slots , myVEGAS Blackjack , my KONAMI Slots , POP!
−Removed: Slots , myVEGAS Bingo , MGM Slots Live , Tetris®, Solitaire, Spider Solitaire, Sudoku, and Mahjong, have been downloaded over 100 million times and were played by 13.1 million monthly active users for the year ended December 31, 2024.
+Added: Slots , myVEGAS Bingo , MGM Slots Live , Tetris®, Tetris Block Party, Solitaire, Spider Solitaire, Sudoku, and Mahjong, have been downloaded over 100 million times and were played by 9.9 million average monthly active users for the year ended December 31, 2025.
From social casino to casual games, each game has been thoughtfully crafted for the people who play it.
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Through our loyalty program, with a few swipes and a tap, players can be on their way to a complimentary meal, show, or weekend getaway, along with a chance to connect with other players who share their passion for our games.
−Removed: Our curated collection of rewards partners represents unique brands including MGM Resorts International, Wolfgang Puck, Royal Caribbean Cruise Lines, and Cirque du Soleil.
+Added: Our curated collection of rewards partners represents unique brands including MGM Resorts International, Norwegian Cruise Lines, Royal Caribbean Cruise Lines, Virgin Voyages, Topgolf, and Cirque du Soleil.
Managing a loyalty program like playAWARDS requires a robust technology platform.
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As of December 31, 2025, our playAWARDS program offered rewards from 167 entertainment, retail, travel, leisure, and gaming brands from 93 reward partners located in 106 countries on 6 continents.
−Removed: Our players have used their loyalty points to acquire over 16 million rewards with a retail value of more than $824 million.
+Added: Our players have used their loyalty points to acquire 19 million rewards with a retail value of more than $965 million.
We believe there is opportunity to grow our vibrant community of players by continuing to leverage our unique loyalty program.
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During the year ended December 31, 2025, we continued to develop and scale our proprietary loyalty platform across 106 countries and 6 continents, and have amassed a global, diverse collection of rewards partners across entertainment, retail, technology, travel, leisure, and gaming.
−Removed: Our loyalty platform allows us to provide an engaging enhancement to the primary gaming experience of our 13.1 million monthly active users for the year ended December 31, 2024.
+Added: Our loyalty platform allows us to provide an engaging enhancement to the primary gaming experience of our 9.9 million average monthly active users for the year ended December 31, 2025.
We believe the combination of our more than 14 years of development investments, operational experience, integration of our loyalty platform within our rewards partners’ marketing and operating practices, and the breadth of our corporate relationships, are significant competitive advantages, and to replicate our systems would require competitors to invest substantial time and incur significant expense.
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Our live operations teams closely analyze player data in order to design and deliver content, offers, and features to our players at the optimal times during their gameplay.
−Removed: We believe thorough effective live operations, we can drive paying player conversion, continued monetization, and long-term paying player retention.
+Added: We believe that through effective live operations, we can drive paying player conversion, continued monetization, and long-term paying player retention.
We are committed to adding value to our player experience through rewards, service, and community.
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Our Growth Opportunities
−Removed: We have a collection of growth opportunities that fall into four distinct categories — optimize, expand, acquire and diversify.
−Removed: We will continue to optimize the performance of our existing portfolio of games, attracting, engaging, and monetizing more players.
−Removed: In addition, we intend to broaden our focus and act on acquisition opportunities that will allow us to complement our existing franchises by integrating new products and players into our playAWARDS program, as we have done with our acquisition of the mobile rights to Tetris® in 2021 and our acquisition of Brainium Studios in 2022.
−Removed: In parallel, we will continue to diversify our business model as we scale advertising within each of our games.
−Removed: We also plan to introduce new playAWARDS features that will enable our players to transact directly with us, which we expect will improve our gross margins.
+Added: We have a collection of growth opportunities that fall into four distinct categories — optimize, expand, acquire, and diversify —each focused on improving the durability, efficiency, and long-term monetization of our business.
+Added: We continue to prioritize optimizing the performance of our existing portfolio of games by increasing player engagement, improving conversion and monetization, and enhancing operating efficiency across live operations, performance marketing, and advertising.
+Added: We also intend to selectively expand our portfolio through new game launches and targeted acquisitions that complement our existing franchises and integrate into our playAWARDS ecosystem.
+Added: In parallel, we are focused on diversifying and enhancing our revenue mix by improving the efficiency and return on ad monetization within our games and by expanding direct-to-consumer distribution and purchasing, including through our myVIP platform.
New Game Launches
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Our primary strategy to date has been to expand our portfolio of games and game studios through in-house development, leveraging the talent and culture of our teams to develop innovative and award-winning games.
−Removed: We launched our myVEGAS Bingo game in March 2021 and MGM Slots Live in October 2021.
−Removed: These games represent an extension of our addressable market and growth opportunity.
+Added: We launched Tetris Block Party in December 2025 and The Win Zone in January 2026, both of which we believe represent meaningful growth opportunities.
We continue to look for opportunities to create new games.
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We continually seek, evaluate, and pursue strategic transactions which we believe will enhance our business as further described below.
−Removed: In November of 2021, we acquired the rights to Tetris® on mobile devices, in October of 2022 we acquired Brainium Studios LLC, and in 2024 we acquired Pixode Games Limited.
−Removed: Our intention is to continue to apply the resources obtained from becoming a public company and accelerate our growth through strategic acquisitions.
−Removed: We believe prospective game companies will find us to be a more attractive acquirer, given the uniqueness of our playAWARDS program and our overall operating framework.
−Removed: Whether it be a young company with untapped potential or a mature business with an established portfolio of existing games, we intend to apply our experience, resources, and proprietary assets to helping them achieve their full potential.
−Removed: We believe our model, operating approach, team, and scale will enable us to compete for the best of these acquisition opportunities.
−Removed: Our prior, current, and future acquisition strategy is to expand into new genres, acquire proven games and brands with franchise value, assimilate talented teams, scale our audience, and leverage our playAWARDS platform to create value and improve operating performance.
−Removed: The genres and related games we are currently focused on include casual (puzzle, match, bubble, word, card), social casino (poker, bingo, slots),and other evolving genres that fit with our overall strategy and criteria.
+Added: In November of 2021, we acquired the rights to Tetris® on mobile devices, in October of 2022 we acquired Brainium Studios LLC, and in July of 2024 we acquired Pixode Games Limited.
+Added: These acquisitions reflect our strategy of selectively expanding our portfolio and capabilities through transactions that complement our existing franchises and operating model.
+Added: We intend to continue pursuing complementary strategic acquisitions that align with our long-term objectives, including expanding into new genres, acquiring proven games and brands with established player bases, and adding talented development teams.
+Added: In evaluating potential acquisitions, we focus on opportunities where we believe our operating expertise, live operations capabilities, distribution reach, and playAWARDS platform can be applied to improve engagement, monetization, and overall operating performance.
+Added: We target opportunities that are consistent with our disciplined capital allocation approach and that we believe can be effectively integrated into our existing portfolio.
+Added: Our acquisition strategy is not limited to a particular stage of company development and may include both earlier-stage studios with scalable growth potential and more established businesses with mature products and franchises.
Ad Monetization
−Removed: While most of our revenue is derived from in-game purchases, we introduced ad monetization mechanics into various of our social casino games in recent years.
+Added: While a majority of our revenue is derived from in-game purchases, we introduced ad monetization mechanics into various of our social casino games in recent years.
In addition, we acquired the rights to Tetris® on mobile devices in November of 2021 and Brainium Studios in October of 2022.
−Removed: The Tetris® mobile game and all ten Brainium games generate most of their revenue through ad monetization.
+Added: The Tetris® mobile games and each of the Brainium games generate most of their revenue through ad monetization.
We intend to continue to qualify and scale in-game advertising as a source of revenue.
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Each portal is tailored to the player, with a curated collection of unique benefits, rewards, and real-world events.
−Removed: The player is also able to review his or her status and currency balances across all playAWARDS-enabled games, and should the player choose, the player can purchase virtual items from within the portal.
+Added: The player is also able to review their status and currency balances across all playAWARDS-enabled games, and should the player choose, the player can purchase virtual items from within the portal.
It’s important to highlight that these players are given preferential access to unique rewards, along with virtual currency packages that are not available within the game.
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Our Company Values
−Removed: At PLAYSTUDIOS, the essence of who we are is expressed in three simple truths:
+Added: At PLAYSTUDIOS, our culture is reflected in three guiding principles:
PLAY better together, PLAY to win, and the game is for the PLAYer.
−Removed: The founders of our company and many of our key studio-level operating teams have long histories together, and the importance of those relationships sets the tone for a company that places its highest premium on trust, mutual respect, and
−Removed: genuine regard for one another — even when we disagree.
−Removed: While clichés about close-knit cultures abound, we believe that in our case the metaphor of a company as family truly does apply.
−Removed: We recognize that building and growing a successful business requires a tremendous commitment of time and energy.
−Removed: Taking that journey with people you care about makes it all the better, whether shouldering a setback or sharing a success.
−Removed: This leads us to our second value, PLAY to win.
−Removed: We all want an opportunity to do great work and to see the direct impact we have on the success of our company.
−Removed: And while there are many ways to measure success, for us, it’s all about the quality of what we create — about thoughtful design and attentive execution.
−Removed: To this end, we spend a good deal of time working through details that most people will never notice, but that do make a difference.
−Removed: The result is that our games have become known for their innovative features, distinctive look and feel, and level of quality that has become a hallmark of PLAYSTUDIOS.
−Removed: The closeness of our teams and the quality of our content come together in our conviction that everything we create is for our players.
−Removed: Unlike a retail or a hospitality business, most game companies don’t have the luxury of daily encounters with their player base.
−Removed: While it is standard practice to continually evolve games based on a rich set of performance analytics, the importance of face-to-face player feedback cannot be overstated.
−Removed: Thanks to our real-world rewards and loyalty program, and an active calendar of community events, we have regular opportunities to socialize with our players in ways that other game companies cannot.
−Removed: Here again, our playAWARDS program affords us a distinct competitive advantage.
−Removed: Our portfolio includes 20 games.
+Added: These principles inform how we collaborate, execute, and engage with our players.
+Added: “PLAY better together” reflects our emphasis on trust, mutual respect, and accountability across our teams.
+Added: Many members of our founding team and studio-level leadership have longstanding professional relationships, which contributes to continuity in strategy and operational discipline.
+Added: We encourage open dialogue and constructive debate in decision-making, recognizing that effective collaboration supports innovation, resilience, and long-term performance.
+Added: We believe that this culture of shared responsibility and alignment enhances our ability to execute consistently across our portfolio.
+Added: "PLAY to win” reflects our focus on performance, quality, and thoughtful execution.
+Added: A central component of this commitment is the visual and experiential design of our games.
+Added: We place significant emphasis on graphical presentation, art direction, animation, sound design, and overall look and feel.
+Added: We believe that a polished, high-quality visual experience is fundamental to player engagement and represents an important point of differentiation for our portfolio in a highly competitive marketplace.
+Added: Our design teams devote substantial attention to detail, cohesive thematic presentation, and production quality, which we believe enhances immersion and supports long-term retention.
+Added: In addition to these player-facing elements, we maintain a disciplined approach to the underlying systems, tools, and operational infrastructure that support gameplay performance, live operations, and monetization.
+Added: While many of these components are not immediately visible to players, we believe they are critical to delivering a consistent, stable, and responsive gaming experience over time.
+Added: Finally, “the game is for the PLAYer” underscores our player-centric approach.
+Added: We use performance analytics and player data to continuously refine our games, and we also value direct player interaction and feedback.
+Added: Through our real-world rewards and loyalty program, including group events and player engagements associated with playAWARDS, we have opportunities to connect with players beyond the digital environment.
+Added: We believe this combination of analytics-driven insight and direct player interaction informs product improvements and supports deeper player relationships, and that the integration of playAWARDS into our ecosystem differentiates our platform within the broader mobile gaming market.
+Added: Our portfolio includes 18 games, as well as our sweepstakes product.
Many of our games are classic in nature with mass appeal due to their highly engaging game mechanics.
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• myVEGAS Blackjack offers our players traditional blackjack rules and game mechanics with a host of social gaming features such as collectibles, challenges, and leaderboards, along with distinct “rooms” that provide the look and feel of a familiar Las Vegas casino.
−Removed: • my KONAMI Slots introduces the growing popularity of real-world casino content in free-to-play mobile gaming, and provides our players with a vast collection of casino-proven slot content.
+Added: • myKONAMI Slots introduces the growing popularity of real-world casino content in free-to-play mobile gaming, and provides our players with a vast collection of casino-proven slot content.
Slots introduces our players to an entirely new, immersive world in which they roam a virtual strip, enter their favorite casinos, and spin reels alongside others with whom they were teamed-up, or pitted against, with real-time audio chat and emojis, allowing our players to connect with one another.
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• MGM Slots Live enables our players to experience genuine MGM casino games, tournaments, and live 3D shows.
+Added: • The Win Zone offers players a sweepstakes social casino experience featuring slot-style gameplay, social features, and opportunities to win real-world prizes.
• Tetris® is one of the world's favorite puzzle games.
• Tetris Block Puzzle is a puzzle game with a Tetris twist.
+Added: • Tetris Block Party provides our players with a game where classic Tetris gameplay meets modern puzzle fun.
• Soul Battles, a block puzzle game with friends.
• Mahjong by Brainium has elevated the relaxing tile match game with clean, modern design, smooth animations, and calming sounds.
−Removed: • Brainium Solitaire is a modern take on the classic card game.
+Added: • Solitaire by Brainium is a modern take on the classic card game.
• Sudoku by Brainium has updated the classic puzzle with a clean, modern design, calming backdrops, and intuitive controls with a user-friendly and complete mobile Sudoku learning system.
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a user-friendly and visually stunning FreeCell.
−Removed: • Pyramid by Brainium, has elevated the classic Pyramid Solitaire card game, with a focus on beautiful design, smooth animations, and fast, fun gameplay.
• Blackjack by Brainium, captures what makes the original casino game exhilarating, while making the experience easy, beautiful, and fun to play.
−Removed: • Jumbline 2 by Brainium is an engaging word game, the object of which is to make words from jumbled lines of letter by rearranging the scrambled letters into words and underlining them with your finger to score points.
−Removed: • Word Search by Brainium is a fun, charming, and user-friendly word finding puzzle on mobile with dozens of categories ranging from foods to astronomy.
• ilu by Brainium is a puzzle game solved with light, set in the boundless void of space with countless forgotten worlds adrift in the dark without the ability to warm their dark and frozen features, where players bring light and life to these abandoned landscapes.
Integration of Loyalty Program
−Removed: Since launching our first game with integrated loyalty mechanics, we’ve worked to abstract the technologies, tools, and operating practices that were central to this unique value proposition.
−Removed: Our aim was to transform our loyalty construct into a free-standing and full-featured program that could be more efficiently integrated into future game releases.
−Removed: Our playAWARDS initiative, and the dedicated team that leads it, is focused on further establishing it as the gaming industry’s gold standard.
−Removed: As we continue to look to accelerate our growth through new product introductions and strategic acquisitions, we believe playAWARDS will serve as a catalyst, driving deeper engagement among newly acquired audiences.
+Added: Since launching our first game with integrated loyalty mechanics, we have continued to develop the underlying technologies, tools, and operating practices that support our loyalty platform.
+Added: Over time, we have evolved these capabilities into a more modular, standalone program designed to be efficiently integrated into new game releases and acquisitions.
+Added: Our playAWARDS initiative is supported by a dedicated team responsible for partner relationships, rewards management, and platform development.
+Added: We believe playAWARDS differentiates our portfolio by connecting digital gameplay with real-world rewards and partner experiences, and by providing an additional avenue of engagement with our players.
+Added: As we introduce new products and evaluate strategic acquisitions, we intend to leverage playAWARDS where appropriate to enhance player value propositions and expand our ecosystem of players and rewards partners.
+Added: While the impact of loyalty mechanics on player behavior may vary across titles and player segments, we believe the program contributes to our overall brand identity and supports cross-portfolio engagement within our games.
Research and Development
−Removed: We believe our ability to attract new players and retain existing players depends in part on our ability to evolve and expand our content library by continually developing differentiated games, systems technology and functionality to enhance player entertainment and user profitability.
−Removed: We have a diverse pool of talent located in game development hubs, including in Israel, Serbia, Hong Kong, Singapore, Vietnam, Mexico, and Chile.
−Removed: This provides us with a funnel of new, internally developed game concepts, ideas for improvements to our systems, and close relationships with those local game-development communities.
+Added: We believe our ability to attract new players and retain existing players depends in significant part on our continued investment in research and development.
+Added: Our R&D efforts focus on developing differentiated game concepts, enhancing core gameplay systems, refining monetization and live operations tools, and improving the underlying technology infrastructure that supports our portfolio.
+Added: Our development process integrates creative design, data analytics, user experience optimization, and systems engineering.
+Added: We continuously evaluate player behavior and performance metrics to inform content updates, feature enhancements, economy balancing, and product iteration.
+Added: In addition to developing new titles, we invest in improving our shared technology platforms, including tools that support live operations, loyalty integration, advertising monetization, and direct-to-consumer distribution.
+Added: Our talent base includes experienced game designers, engineers, product managers, artists, and data scientists working across multiple disciplines and time zones.
+Added: We periodically evaluate our studio footprint and organizational structure to align resources with strategic priorities, improve operational efficiency, and optimize collaboration.
+Added: We believe this flexible operating model supports a consistent pipeline of new game concepts and ongoing enhancements to our existing portfolio while allowing us to adapt to evolving market conditions.
As a developer of mobile games, we compete with other game makers and other forms of entertainment content.
−Removed: Our competitors that develop mobile and web games in the social casino gaming category vary in size and offerings and include companies such as Aristocrat, DoubleU, Huuuge Games, Playtika, SciPlay (owned by Light & Wonder), Scopely, Zynga (owned by Take-Two Interactive), and others.
+Added: Our competitors that develop mobile and web games in the social casino gaming category vary in size and offerings and include companies such as Product Madness (owned by Aristocrat), DoubleU, Huuuge Games, Playtika, SciPlay (owned by Light & Wonder), Scopely, Zynga (owned by Take-Two Interactive), and others.
In addition, there are competitors that develop mobile and web games that are not currently focused on the social casino gaming category but may move into that space and that may also impede our diversification efforts, including companies such as Activision Blizzard (owned by Microsoft and the parent company of King Digital), Electronic Arts (EA Mobile), Epic Games, Netmarble (the parent company of Jam City and Kabam), NetEase (NetEase Games), Niantic, Take-Two Interactive Software, Vivendi (the parent company of Gameloft) and others.
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Intellectual Property
−Removed: We have 107 registered U.S.
+Added: As of December 31, 2025, we had 103 registered U.S.
trademarks, 8 pending applications for U.S.
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patents, and 17 pending U.S.
−Removed: patent applications as of December 31, 2024.
−Removed: We create most of the intellectual property we use in our games, but we also license or otherwise receive rights to third-party intellectual property for use in our games.
−Removed: For example, we use licensed intellectual property from MGM Resorts International, Konami Gaming, Tetris®, Ainsworth Gaming Technology,
−Removed: IGT, and Shaquille O’Neal among others, as creative assets in our games.
−Removed: These licenses typically limit our use of intellectual property to specific uses and for specific time periods and include other contractual obligations with which we must comply.
−Removed: Certain intellectual property rights may be licensed to us on a non-exclusive basis, and accordingly, the owners of such intellectual property are free to license such rights to third parties, including our competitors, on terms that may be superior to those offered to us, which could place us at a competitive disadvantage.
−Removed: Competition for these licenses is intense, and often results in one or more of advances, minimum payment guarantees, and royalties that we must pay to the licensor, which decreases our profitability.
−Removed: Additionally, in the future, we may identify third-party intellectual property we may need to license in order to engage in our business, including to develop or commercialize new games;
−Removed: however, such licenses may not be available to us on acceptable terms or at all.
−Removed: We expect to continue to use a mix of originally created and licensed content in our games.
−Removed: See “ Risk Factors — Our ability to acquire and maintain licenses to intellectual property may affect our revenue and profitability.
−Removed: Competition for these licenses may make them more expensive and increase our costs.
+Added: patent applications.
+Added: We create a substantial portion of the intellectual property used in our games, including proprietary game mechanics, software systems, artwork, audio content, and branding.
+Added: In addition, we license certain third-party intellectual property that we believe enhances the appeal of our portfolio.
+Added: For example, we use licensed intellectual property from MGM Resorts International, Konami Gaming, and the Tetris® brand in certain of our games.
+Added: These licenses typically limit our use of the licensed intellectual property to specific products, territories, and time periods and include other contractual obligations with which we must comply.
+Added: Certain licenses may be non-exclusive, and licensors may grant similar rights to third parties, including our competitors.
+Added: Competition for high-quality licensed intellectual property can be significant and may require us to pay advances, minimum guarantees, royalties, or other consideration, which may affect our profitability.
+Added: In addition, we may seek to obtain additional licenses in the future to support new game development or portfolio expansion;
+Added: however, such licenses may not be available on commercially reasonable terms or at all.
+Added: We expect to continue to utilize a combination of proprietary and licensed intellectual property in our games.
+Added: See See “Risk Factors — Our ability to acquire and maintain licenses to third-party intellectual property may affect our revenue, profitability, and competitive position.
Government Regulation
We are subject to a variety of laws in the U.S.
−Removed: and abroad that affect our business, including state and federal laws regarding consumer protection, electronic marketing, data protection and privacy, competition, taxation, intellectual property, export, and national security, which are continuously evolving and developing.
+Added: and abroad that affect our business, including state and federal laws regarding consumer protection, electronic marketing, data protection and privacy, gaming, gambling, sweepstakes, promotional contests, competition, taxation, payments, money transmission, anti-money laundering, intellectual property, export, and national security, which are continuously evolving and developing.
The scope and interpretation of the laws that are or may be applicable to us are often uncertain and may be conflicting, particularly laws outside the U.S.
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It is also likely that as our business grows and evolves and our games are played in a greater number of countries, we will become subject to laws and regulations in additional jurisdictions or other jurisdictions may claim that we are required to comply with their laws and regulations.
+Added: In addition, even in jurisdictions where our activities are currently permitted, regulators may take enforcement positions, issue guidance, or pursue investigations that differ from existing interpretations of applicable law.
There are ongoing academic, political and regulatory discussions in the U.S., Europe, Australia, and other jurisdictions regarding whether social casino games should be subject to a higher level or different type of regulation than other social games to protect consumers, in particular minors and persons susceptible to addiction to social casino games, and, if so, what this regulation should include.
+Added: In particular, regulators, courts, or legislators in certain jurisdictions may determine that aspects of social casino games, including virtual currency mechanics, prize structures, or promotional features, constitute or resemble gambling or regulated gaming activities, even where no purchase is required to participate.
It is possible that a number of laws and regulations may be adopted or construed to apply to us in the U.S.
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If that were to occur, we may be required to seek licenses, authorizations, or approvals from relevant regulators, the granting of which may be dependent on us meeting certain capital and other requirements and we may be subject to additional regulation and oversight, all of which could significantly increase our operating costs.
−Removed: Changes in current laws or regulations or the imposition of new laws and regulations in the U.S.
+Added: Regulatory authorities may also initiate inquiries, audits, investigations, or enforcement actions, even in the absence of clear legal precedent, which could require us to modify, suspend, or discontinue certain offerings.
+Added: Changes in current laws or regulations or the interpretation or application thereof, or the imposition of new laws and regulations in the U.S.
or elsewhere regarding these activities, may impede the growth of social game services and impair our business, financial condition, or results of operations.
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and foreign laws, many of which are unsettled and still developing, and which could subject us to claims or otherwise harm our business.
+Added: Laws and regulations governing gaming, gambling, sweepstakes, and promotional contests vary significantly by jurisdiction, are evolving, and are subject to differing interpretations.
+Added: While our social casino games do not offer real-money gambling, regulators or courts in certain jurisdictions may nonetheless conclude that elements of our games constitute gambling or otherwise require licensing or regulatory approval.
+Added: Such determinations could result in requirements to obtain licenses, pay additional taxes or fees, modify or discontinue certain features, restrict access to our games in particular jurisdictions, or cease operations entirely in certain markets.
+Added: Outside the United States, regulatory frameworks applicable to social casino games and digital entertainment products are often less developed, more fragmented, or inconsistently enforced.
+Added: We may be required to comply with conflicting or rapidly changing regulatory regimes across different countries, and regulators in one jurisdiction may assert authority over our activities based on player location, data processing, payment flows, or marketing activities.
+Added: Navigating these complexities may require significant legal and operational resources and could adversely affect our ability to scale internationally.
+Added: Our business relies on the sale, use, and redemption of virtual currency and digital items, as well as the processing of payments through third-party payment providers.
+Added: As a result, we may be subject to laws and regulations relating to money transmission, electronic payments, unclaimed property, consumer funds protection, sanctions, and anti-money laundering.
+Added: Regulatory authorities could determine that aspects of our virtual currency systems or payment flows require registration, licensing, or ongoing regulatory oversight.
+Added: Compliance with such requirements could significantly increase our operating costs, require changes to our business model, or limit our ability to offer certain features or operate in certain jurisdictions.
+Added: We are subject to increasing regulation related to advertising practices, disclosures, in-game purchases, and consumer protection, including heightened scrutiny regarding marketing to minors and individuals susceptible to compulsive behavior.
+Added: Regulators may impose restrictions on how our games are marketed, labeled, or monetized, including requirements related to transparency, warnings, spending limits, or age-gating.
+Added: Failure to comply with such requirements could result in fines, penalties, or restrictions on our ability to distribute or promote our games.
We are a member of the International Social Games Association or ISGA, a worldwide representative body of the social games industry.
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Our co-founder and Executive Vice President, Paul Mathews, is the current Chairman of the ISGA.
−Removed: We are committed to ISGA’s Best Practice Principles, including transparency in our game mechanics, functionality, and in-game purchase process, striving to adhere to data privacy and protection law, and providing customer support.
+Added: Although compliance with industry best practices or self-regulatory standards does not insulate us from regulatory scrutiny, enforcement actions, or private litigation, we nonetheless are committed to ISGA’s Best Practice Principles, including transparency in our game mechanics, functionality, and in-game purchase process, striving to adhere to data privacy and protection law, and providing customer support.
Data Privacy and Security
We receive, store, and process personal information, including personal information of our players and other player data.
+Added: Our ability to operate our games and business depends on the continued availability, integrity, and security of our information technology systems and the data stored on those systems.
We respect the data privacy rights of our players and strive to comply with all applicable data privacy laws.
However, there are numerous federal, state, and local laws around the world regarding data privacy and the storing, sharing, use, processing, disclosure, and protection of personal information, and current laws and regulations are inconsistent across jurisdictions leading to a patchwork of data privacy laws that are difficult to fully interpret and adhere to.
−Removed: Some of these laws
−Removed: and regulations authorize the governing agencies to investigate companies under their jurisdiction to ensure compliance, and to impose fines and other measures against companies who are not in compliance.
+Added: Some of these laws and regulations authorize the governing agencies to investigate companies under their jurisdiction to ensure compliance, and to impose fines and other measures against companies who are not in compliance, including audits, investigations, consent decrees, remediation obligations, limitations on data processing activities, or restrictions on our ability to collect or use certain data.
The applicability of these laws and regulations to us, and their scope and interpretation, are constantly evolving, often uncertain, and may conflict between jurisdictions.
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The CCPA and CPRA could subject us to additional compliance costs as well as potential fines, individual claims and commercial liabilities.
+Added: The CPRA also increases regulatory enforcement authority and may result in increased investigations, enforcement actions, and private litigation, including class actions, which could expose us to significant costs, liabilities, and reputational harm.
Similar laws relating to data privacy and security have been adopted in several other states, and proposed in other states and at the federal level, and, if passed, such laws may have potentially conflicting requirements.
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The GDPR is wide-ranging in scope and imposes strict obligations and restrictions on the ability to collect, use, retain, protect, disclose, transfer, and otherwise process personal information (including restrictions on cross-border transfers of personal information), with substantial monetary penalties for violations.
+Added: Regulatory authorities in the EU and other jurisdictions have increased enforcement activity in recent years, including imposing significant fines and corrective measures, and such actions could require us to suspend or materially modify certain data processing activities.
The GDPR also provides that EU member states may enact their own additional laws and regulations in relation to certain data processing activities.
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We are further subject to consumer protection laws, such as general truth in advertising and unfair trade practices that prohibit making false statements about, or otherwise failing to disclose, how we use our players’ data, as well as federal and state data breach notification laws.
+Added: Certain jurisdictions have adopted or may adopt data localization or residency requirements, which could require us to store or process data locally, increase our infrastructure costs, or limit our ability to operate efficiently across regions.
The scope of data privacy laws and regulations worldwide continues to evolve, and we anticipate that the number of data privacy laws and the scope of individual data privacy and protection rights will increase, and we will continue to evaluate tools and methods to help us comply with existing and new laws and regulations.
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If we are not able to comply with these laws or regulations or if we become liable under these laws or regulations, we could be directly harmed, and we may be forced to implement new measures to reduce our exposure to this liability.
−Removed: This may require us to expend substantial resources, modify our games, or block users from a particular jurisdiction, each of which would harm our business, financial condition, and results of operations.
+Added: This may require us to expend substantial resources, modify our games, limit personalization or targeted advertising, restrict analytics or monetization features, or block users from a particular jurisdiction, each of which would harm our business, financial condition, and results of operations.
In addition, the increased attention focused upon liability issues as a result of lawsuits and legislative proposals could harm our reputation or otherwise impact the growth of our business.
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However, it is possible that these obligations may be interpreted and applied in a manner that is inconsistent from one jurisdiction to another and may conflict with other rules and regulations to which we are subject.
+Added: In addition, players may withdraw consent or exercise deletion or restriction rights, which could limit our ability to analyze player behavior, personalize gameplay, detect fraud, or monetize our games.
+Added: Despite our efforts to maintain the security of our systems and the personal information we process, we may be subject to cybersecurity incidents, including unauthorized access, data breaches, malware, ransomware, phishing attacks, or other security compromises.
+Added: Such incidents may result from employee error, malicious third parties, software vulnerabilities, or failures of third-party service providers.
+Added: Even incidents that do not result in the loss or theft of personal information could disrupt our operations, require significant remediation efforts, and expose us to regulatory scrutiny, litigation, reputational harm, and financial loss.
+Added: In addition, we rely on third-party service providers, including cloud infrastructure providers, analytics providers, marketing partners, and payment processors, to process personal information on our behalf.
+Added: While we seek to impose contractual obligations on these third parties regarding data protection and security, we do not control their systems or security practices.
+Added: Any failure or breach by a third-party service provider could expose us to liability, regulatory enforcement, or reputational harm, even if the incident did not originate from our systems.
+Added: Actual or alleged failures to comply with data privacy, data protection, or cybersecurity laws, regulations, or contractual commitments may result in claims, investigations, enforcement actions, fines, penalties, private litigation, or class actions.
+Added: In addition to monetary damages, such matters could result in adverse publicity, loss of player trust, reduced player engagement, and harm to our brand and reputation, which could have a material adverse effect on our business, financial condition, and results of operations.
See “Risk Factors — We are subject to laws and regulations concerning data privacy, information security, data protection, and consumer protection, and these laws and regulations are continually evolving.
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None of our employees are represented by a labor organization or are a party to any collective bargaining agreement with respect to their employment by us, except for certain employees in Vietnam where local law requires those employees to be represented by a trade union.
−Removed: We have never experienced a material interruption of operations due to labor disagreements.
+Added: Although we have never experienced a material interruption of operations due to labor disagreements, our employees are subject to varying labor and employment laws across multiple jurisdictions, which increases the complexity of our compliance obligations and may limit our flexibility in managing our workforce.
We believe that our people are the reason for our success, and we have organized ourselves to maximize productivity and performance.
−Removed: We are also working to build diversity within our workforce.
+Added: We also work toward building diversity within our workforce.
+Added: Our ability to execute our business strategy depends in significant part on our ability to continue to attract, develop, motivate, and retain skilled employees.
Our human capital resources objectives include, as applicable, identifying, hiring, training, integrating, and retaining our existing and additional employees.
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Further, we believe that our commitment to a culture of inclusion is integral to our goal of attracting and retaining talent.
+Added: Competition for experienced talent in the gaming, technology, and data analytics sectors is intense, and increased employee turnover or difficulty hiring qualified personnel could adversely affect our operations and growth.
We strive to provide compensation and benefits that are competitive to market and create incentives to attract and retain employees.
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In addition, we offer stock-based compensation and access to a variety of health and wellness resources.
+Added: Rising compensation costs, including wages, benefits, and equity incentives, may increase our operating expenses and could adversely affect our profitability.
+Added: Our future success depends in part on the continued service of key members of our management team and other highly skilled employees.
+Added: The loss of one or more of these individuals, or our inability to attract qualified replacements in a timely manner, could disrupt our operations, delay product development, and adversely affect our business and results of operations.
+Added: From time to time, we may adjust our workforce in response to business conditions, cost-reduction initiatives, or strategic priorities.
+Added: Workforce reductions, reorganizations, or changes in employment arrangements may result in additional costs, including severance, retention payments, or legal expenses, and could adversely affect employee morale, productivity, and our ability to retain key talent.
Website and Available Information
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Our website address is www.playstudios.com.
−Removed: Through a link on the Investors section of our website, we make the following filings available free of charge and as soon as reasonably practicable after they are electronically filed or furnished with the SEC:
+Added: Through a link on the Investors section of our website, we make the following filings available free of charge and as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC:
our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to such reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, and the rules and regulations promulgated thereunder.
These filings are also available free of charge on the SEC’s website at www.sec.gov.
−Removed: The information contained on, or that can be accessed through, our website is not incorporated by reference into, and is not a part of, this filing.
+Added: We use our website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.
+Added: Information contained on, or accessible through, our website is not incorporated by reference into this Annual Report on Form 10-K and is not a part of this filing.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.