PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Q2 2023 Earnings Call Transcript

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Scott Peterson: Sure. I mean, Andrew’s right. I mean, really, there wasn’t too much savings in Q2, maybe a little bit towards the tail end. We expect to see, the bulk of the savings that we will experience in the middle of Q3 as we’re exiting some leases and other things like that. So, yes, you’ll see a little bit more savings. I’m not being terribly specific, but there will be some in Q3 and more in Q4. By Q4, we’ll have realized all of them basically on a normalized basis.

Greg Gibas: Okay, great. And yes, that’s helpful. Just trying to get a sense of the timing there. I think lastly for me, and I know you already spoke a lot about, the early efforts and the improvements that you’re working on for my Konami and my Vegas slots. But I guess I just wanted to follow up regarding, like a rough timeline on that. Like, when would we start to see those, like, I guess those efforts on, you mentioned the economy adjustments within the games and then like targeted segmenting. When would we maybe see those improvements take place? Do you have kind of a rough timeline?

Andrew Pascal: Yes, I mean, there’s, there, it isn’t like there’s a big body of work that once it’s completed, then there’s kind of this key moment where all of a sudden we start to enjoy all those benefits. There’s a very comprehensive set of adjustments and a roadmap that will extend, even beyond this calendar year for those products. I didn’t mean to imply we don’t do a lot of those things. We’re constantly looking at refining and tweaking the economies and our segmentation practices. But to do more fundamental changes to the tools that we use and the applications are, themselves and the degree to which they can accommodate the kind of flexibility that we know we need more of in our products. That tends to be more foundational and requires a bit more work and time.

And it’s the kind of work where, you’re really, I refer to this being foundational. It’s kind of like you’re jacking up the building and addressing some of the core infrastructure. And so until you get into it, particularly in light of the fact that, these are fairly, long standing products, you’re not entirely sure that some of the issues that you’re going to confront and get into. So we expect that we’re going to start to see and enjoy some of the benefits this quarter into the fourth quarter, but there’s no question that work will extend on into the early part of next year. So, we’ve got it.

Greg Gibas: That makes sense. Appreciate it guys.

Andrew Pascal: Yes, thank you.

Operator: Thank you. There are no further questions at this time. I’d like to hand the floor back over to Andrew Pascal for closing comments.

Andrew Pascal: Well, thank you again just to really appreciate everybody’s time and interest and we just look forward to continue to update you on our progress as we advance through the balance of the year. So thank you very much everyone.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.

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