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  "documentTitle": "Playtika Holding Corp. (PLTK)",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-02-03 00:00:00",
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  "notes": "This is a short-seller research report page. The tone is highly critical and accusatory.",
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      "kind": "callout",
      "text": "Reviews And Our Personal Trials Indicate That PLTK Is Feeding Off Of People’s Addiction, Going After The Most Vulnerable Player Base",
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      "text": "THE REPORT AND ALL STATEMENTS CONTAINED HEREIN ARE THE OPINIONS OF GRIZZLY RESEARCH, AND ARE NOT STATEMENTS OF FACT. AS OF THE PUBLICATION DATE OF THIS REPORT, GRIZZLY RESEARCH (POSSIBLY ALONG WITH OR THROUGH OUR MEMBERS, PARTNERS, AFFILIATES, EMPLOYEES, AND/OR CONSULTANTS) ALONG WITH OUR CLIENTS AND/OR INVESTORS HAS A DIRECT OR INDIRECT SHORT POSITION IN THE STOCK (AND/OR OPTIONS, SWAPS, AND OTHER DERIVATIVES RELATED TO ONE OR MORE OF THESE SECURITIES) OF THE COMPANY COVERED HEREIN, AND THEREFORE STANDS TO REALIZE SIGNIFICANT GAINS IN THE EVENT THAT THE PRICE OF PLAYTIKA’S STOCK DECLINES. THEREFORE, USE GRIZZLY RESEARCH’S RESEARCH AT YOUR OWN RISK. YOU SHOULD DO YOUR OWN RESEARCH AND DUE DILIGENCE BEFORE MAKING ANY INVESTMENT DECISION WITH RESPECT TO THE SECURITIES COVERED HEREIN. AND WE MAY BE LONG, SHORT, OR NEUTRAL AT ANY TIME HEREAFTER REGARDLESS OF OUR INITIAL OPINION. © 2020 GRIZZLY RESEARCH LLC. ALL RIGHTS RESERVED.",
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      "text": "These practices are immoral, and we believe make these slots games in many ways even worse than traditional casino gambling, as they are easily available in the customer’s pockets without the physical oversight of public space. The only argument from the management that tries to counter this fact is that “there is no real money involved”, even though players have to pay for credits, they will never get real money back.",
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      "text": "First of all, it is important to note that the most lucrative games of the company are the slots games. Bingo Blitz and Slotomania are the two games generating the most revenue for the company, accounting for around half of the total revenue for the year ended 2019 and 2020. These two games have player bases mostly composed of middle-aged and elderly people, most of them having a lot of free time, they rely a lot on these games in order to “cure” their boredom. The majority of revenues are derived from a small percentage of these people, who are in our opinion without a doubt, addicted to the games.",
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      "text": "This is in our view a dirty truth about this industry and other industries like sports betting with gambling type characteristics. The vast majority of profits are derived from a tiny percentage of people who simply cannot help themselves and will spend all the money they have on their addiction. Playtika is in our opinion playing into this worst aspect of the industry aggressively.",
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      "kind": "paragraph",
      "text": "Playtika is not making it easy for them to get out of this addiction, even worse, we believe that through their aggressive monetization, they are just going after the most vulnerable portion of the player base.",
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      "kind": "paragraph",
      "text": "When it comes to “free-to-play” games, players usually have options to pay extra in-game bonuses in order to progress faster than others. Bonuses usually give the players more credits, objects or even allow to unlock levels while being balanced with the “free-to-play” experience in order to give everyone a pleasant in-game experience. After looking at reviews of all their games, we noticed a pattern of excessively aggressive monetization of Playtika’s games, and for the games recently acquired through the multiple acquisitions of games studio development, we see a drastic change in the player experience, being almost forced to pay in order to continue enjoying and progressing in their favorite game. We believe that these practices are unhealthy, and could backfire in the future as we see an increasing amount of negative reviews from legacy players, even those who admitted spending a lot of money in the games historically feel trapped and if it’s not already done, seriously think of playing other games.",
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      "text": "Why We Believe PLTK’s Business Is Not Only Unsustainable, It Is Also Immoral.",
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      "text": "PLTK’s Roll Up Strategy Is A Lot Less Attractive Than It Seems On The Surface, Even In Good Times",
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