Playstudios Nears National Launch of Sweepstakes Casino
Posted on: August 5, 2025, 12:00h.
Last updated on: August 5, 2025, 02:14h.
- Playstudios could have sweeps casino product live on national basis by the end of 2025
- The developer has highlighted encouraging signs from sweepstakes casino testing
Social casino developer Playstudios (NASDAQ: MYPS) said it’s nearing national rollout of its sweepstakes casino platform, adding the offering could be live by the end of the year following a testing round.
The company delivered the sweeps casino update in conjunction with its second-quarter earnings report, which was released Monday after the close of US markets. On a conference call with analysts, CEO Andrew Pascal said the rise of social casinos employing sweepstakes methodologies remains a “dominant theme” in the industry.
After just nine months since formalizing this effort, we’re now live in open beta across seven states and the early signals are promising,” he said of his company’s sweepstakes casino efforts. “Player retention, engagement and monetization are all trending in the right direction.”
Pascal added that players gravitating to sweeps casino away from the traditional social casino model is dramatically altering player behavior and monetization across the category.
“This trend is pressuring traditional offerings, including our core social casino portfolio. That said, these dynamics were anticipated, and they’re exactly why we launched our reinvention program last year,” he said.
Sweepstakes Casinos Garnering Increasing Attention
Sweepstakes are one of the most controversial forms of wagering, drawing a slew of state-level regulatory scrutiny, but bettors overwhelmingly view “sweeps” casinos as real gambling, and they plunk down real money in the hopes of winning more.
A new survey by the American Gaming Association (AGA) reveals 90% of respondents consider sweepstakes casinos to be a form of gambling. More than two-thirds view these gaming outlets as places to wager real money, and a comparable percentage said their primary reason for playing at these online venues is in the hopes of winning money.
Sweepstakes casino operators have drawn state-level regulatory scrutiny across the US because some lawmakers question the free-to-play purity of these offerings, while others are concerned that what’s essentially another form of iGaming could represent a competitive threat to land-based commercial and tribal gaming venues. For its part, Playstudios is taking a pragmatic approach to what could be a challenging regulatory landscape.
“We’re seeing clear evidence that our proposition resonates with players,” Pascal said on a conference call with analysts. “We’re taking a measured and rigorous approach to scaling focused on ensuring that when we open the product to all eligible states, the experience is fully optimized and delivers on our high standards, player expectations, and return on ad spend thresholds.”
PlayStudios Odds and Ends
PlayStudios noted its direct-to-consumer business performed well in the June quarter, notching $6.7 million in in-app purchase sales, good for 107% year-over-year growth.
The company added that it’s on pace to miss full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) and sales guidance as cost savings initiatives haven’t been enough to offset that weakness. Executives said the current quarter is shaping up in comparable fashion to the second quarter.
Playstudios, which makes games such as myVegas Slots and myVegas Blackjack, has its own loyalty program, playAwards. Players can redeem those points for amenities and lodging at MGM venues, including glitzy venues such as Aria, Bellagio, and Mandalay Bay on the Las Vegas Strip, as well as some of the operator’s regional casinos.
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