Israeli developer Playtika has released its Q2 2022 quarterly report, highlighting its success over the past three months.

Revenue was up from $659.2 million last year to $659.6 million. That revenue consists of $351.5 million in casual and $308.1 million in the casino genre.

However, net income was down two-thirds, from $90 million to $36.4 million. Adjusted EBITDA also fell from $238.9 million to $264.4 million a year ago.

As of June 30, the company had earned more than $1.8 billion, of which $124.1 million was cash, cash equivalents and short-term bank transfers.

The company is proud of its second-quarter performance in such a challenging economic environment. Playtika maintained growth in priority strategic areas, including its casual games portfolio and Direct-To-Consumer platform, and demonstrated business resiliency. The studio is focused on continuing to release exciting new content for its existing game portfolio and on new product development initiatives.

Robert Antokol, CEO of Playtika

The company’s casual games portfolio is up 10% over last year and accounts for 53.3% of the company’s revenue. Average daily payer conversions also increased, from 2.9% to 3.2%.

June’s Journey saw robust growth, with revenue up 34.2% over last year. Solitaire Grand Harvest also showed an increase of 6.3% over the same period.

The company is projecting revenue of $2.6 billion and adjusted EBITDA of $900 million to $940 million for the year.

Even though there was a decline in performance this quarter compared to last year, the company performed well.

Side note: The exponential growth of the mobile gaming industry through 2029.