Playtika mobile game maker for IPO with growing revenue

Black RF smartphone

Photographer: Maskot / Getty Images

Cape Playtika Holding Corp. file for initial public offering, showing declining profits on more revenue this year.

The Israeli-based company, in its file Friday with the U.S. Securities and Exchange Commission, listed the size of the offer as $ 100 million, a potential change.

The company had net income of $ 1.8 million on revenue of $ 1.8 billion for the nine months ended Sept. 30, according to the leak. That compared to net income of $ 259 million on revenue of $ 1.4 billion in revenue in the same period last year.

Chinese investors bought Playtika from Caesars Entertainment Corp. for $ 4.4 billion in 2016. Following the IPO, Playtika will eventually remain under control with the Chinese company Giant Investment Co., which is itself controlled by Yuzhu Shi, according to the leverage.

For more: Chinese group to buy Caesars Games Unit for $ 4.4 billion

The offer is driven by Morgan Stanley, Credit Suisse Group AG, Citigroup Inc., Goldman Sachs Group Inc., UBS AG Group and Bank of America Corp. The company expects its shares to trade on Nasdaq Global Select Market under the PLTK symbol.