TruFin subsidiary Playstack passes 2 million sales for indie hit Balatro
() , a fintech-focused investment company, announced that its gaming subsidiary Playstack has achieved a new milestone for its title Balatro with 2 million unit sales recorded worldwide.
Balatro is a poker-inspired game that launched in February 2024. It has become Playstack's fastest-selling title to date with over 1 million copies sold in its first month, and now 2 million less than 6 months later. Playstack said it would continue to cultivate interest in the title, with a major new gameplay update expected in 2025.
Harvey Elliott, CEO, Playstack, commenting: "We are moved by the sustained success that both Balatro and Abiotic Factor have achieved, and we cannot be more thankful for the commitment and passion from both games' incredible developers. Breaking sales records with two different titles in a row demonstrates how focused Playstack continues to be."
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TruFin's Playstack has achieved a significant milestone with its fastest-selling game reaching 2 million sales in under 6 months. Following an impressive 1 million sales in the first month, the game has sustained its momentum, garnering continuous praise from critics and fans alike, and currently holds an "overwhelmingly positive" rating on Steam.
Similarly, Playstack's survival crafting game Abiotic Factor that released on May 2nd, has since sold 600,000 units and also earned an "overwhelmingly positive" rating on Steam. The game publisher has 2 more titles in the pipeline for 2024 - the detective game Little Problems, and the sequel Rise of the Golden Idol, due for release in H2. Additionally, Playstack has the rights to the valuable Mortal Shell franchise, acquired last year.
Playstack has become one of TruFin's fastest-growing holdings after it refocused on publishing last year. In FY23, Playstack's launched 3 critically acclaimed titles - The Last Faith, AK-Xolotl and CityScapes: Sim Builder - and secured 6 platform deals across 5 titles. Revenue for the period was £8.0m, up 27% from the prior year, as the company became EBITDA profitable for the first time. Profitability is set to accelerate in FY24.
The company's revenue continues to diversify as it adds titles to its catalogue. In FY21, 85% of Playstack's revenue came from a single game - by FY23, this same percentage was generated from 8 games, with several more in active development. In FY23, Playstack achieved an impressive average ROI of 384% across all PC and console game launches, with a weighted IRR of over 300%.
More recently in June 2024, Playstack announced a "significant contract with a global technology platform" for one of its next games. The multi-year contract comprises both an upfront payment and monthly performance-based payments. The new partnership further validates the company's growing portfolio and underpins revenue visibility.
With a growing back book, soon expected to reach more than 50% of revenues, and multiple new game releases secured, Playstack is well-positioned for further growth.
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