- June 25, 2021
- Posted by: Stratford Team
- Category: Business
LAS VEGAS–(BUSINESS WIRE)–PLAYSTUDIOS, Inc. (Nasdaq: MYPS) (“PLAYSTUDIOS” or the “Company”), an award-winning developer of free-to-play casual mobile and social games that offer real-world rewards to loyal players, announced today that it has entered into a new $75 million, five-year secured revolving credit facility (“New Credit Facility”) to support its future growth initiatives. The New Credit Facility also provides the Company with an option to increase the credit facility for up to an additional $75 million.
“This new credit facility adds liquidity to our already strong cash position, lowers our costs of capital, and represents a significant vote of confidence from our financial partners,” said Andrew Pascal, Founder, Chairman, and Chief Executive Officer of PLAYSTUDIOS. “In addition, the facility provides the financial flexibility needed to execute on our long-term plans to successfully grow the business.”
The New…
