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We continue to expand playAWARDS reach by adding more players and onboarding new rewards partnerships. We more than doubled Tetris Prime's revenues and renewed partnership with the Tetris Company, extending our exclusive mobile license for up to an additional eight years. We fully incorporated Brainium into our operating framework and posted sequential quarter-over-quarter growth. And finally, during the year, we purchased $15 million in stock, remained debt free and maintained our strong cash position. If you're a stakeholder in our company, I think it's critical that you understand not just our more recent performance, but how uniquely positioned we are for our future growth. We remain the only company to thoughtfully craft compelling games to leverage world-class brands, proven game mechanics and a robust real-world loyalty program.

This unique approach has enabled us to post 10 years of growth diversifying our portfolio, network of players and composition of revenues in the process. As I've reaffirmed in the past, our strategy consists of two key pillars: the first consists of expanding our playGAMES division by optimizing our existing portfolio, along with developing and acquiring new games so that we can demonstrate our loyalty lift across a broader collection of products. We've done this most recently by complementing our internal efforts with strategic M&A, acquiring the rights to Tetris and the branding portfolio of casual games. The second is focused on advancing our playAWARDS division by enriching our platform and suite of services so that we can provide to the broader games industry.

I believe that executing on these strategic priorities will enable us to accelerate our growth, minimize rate of risk, improve margins and ultimately drive substantial value. So let's touch on some of our primary initiatives starting with playGAMES. In playGAMES, the focus in 2024 will be stabilizing our core products, sustaining momentum in our growth portfolio and continuing to advance the initiatives currently in development. Let me dive a little deeper into each. Our three key initiatives in our core portfolio for 2024 will be improving the monetization trends in myVegas and myKONAMI, expanding our mix of direct business and the adoption and renewed merchandising of myVIP in all of our primary titles. While we expect the broader social casino trends to remain challenging, we believe these dynamics can result in both above market and absolute growth for our portfolio.

We're pleased with the progress being made in myVegas and myKONAMI and are already seeing tangible results from the changes we began implementing in mid-2023. As a reminder, both of these games have loyal followings that are frequently played by our users. As such, our biggest opportunity is to get more players to convert to paying users. In support of this, our teams are intensely focused on refining the game economies, enhancing our segmentation and pricing practices and introducing new features that enrich the overall game experience. On the topic of myVIP, all of our studios are actively working on adopting our newest playAWARDS in-game store and loyalty economy solutions. Doing so will allow us to enhance the merchandising of our loyalty program as well as introduce a rich collection of new in-game and web-based benefits.

We believe this will allow us to further enhance the loyalty lift across our products as well as offer compelling incentives to purchase our platform through our player-specific and bespoke web solution. This supports our third playGAMES priority, which is focused on generating more direct sales with our players. Today, our share of direct sales, while ramping is still well below many of our peers. With that said, we believe the uniqueness of our loyalty model allows us to offer tailored incentive players that purchase from us directly. Turning to our growth portfolio. The focus in 2024 will be the continued scaling of our games and the integration of myVIP. Tetris Prime had a tremendous 2023, and we believe there's still substantial growth ahead.

This year is the 40th anniversary of the Tetris brand, and we have a number of exciting marketing initiatives planned for the year. We think these efforts, combined with the game's organic momentum will lead to higher DAUs and increased ARPDAU. We're seeing strong reception to our loyalty offering in the game and believe the full rollout of tiered offerings will result in even more increased player engagement. We’re expecting a similar impact on brand new suite of games which are also scheduled for a full loyalty rollout in 2024. The inclusion of loyalty was a key reason we purchased Brainium and we're excited about the impact it will have on player engagement and resulting revenues. Finally, our development portfolio. As I've reaffirmed on each of our quarterly calls, we're passionate game makers.

As such, we remain committed to creating and publishing new games that will delight our existing network of nearly 14 million monthly active users as well as attract all together new players into our mix. With our recent extension of our Tetris license, our immediate focus is on fully capitalizing on this beloved franchise. I'm happy to share that we have two new and distinctive Tetris titles in development. Each game represents a new embodiment of the Tetris format, combining the best of the classic game with the most popular mechanics found in today's leading casual games. As I've said before, crafting new games is more art than science. And as such, the ultimate success of each is hard to predict. That said, we know the Tetris brand is incredibly popular with players and many of the games in the puzzle category today are facsimiles of the real thing.

We firmly believe this creates an opportunity for us to capture players who we believe which is a true Tetris game if given the option. Let's shift our attention to our playAWARDS line of business. 2024 will be a similar year for playAWARDS as we explore how best to commercialize the platform. As I've highlighted since going public, we built the game industry's most robust loyalty solution. In doing so, we've nurtured a marketplace that has scaled to nearly 14 million consumers on one side and hundreds of real-world benefits providers on the other. It's our ambition to dramatically scale our model by providing loyalty services to other game publishers and provide access to an even more expansive network of qualified consumers to real-world businesses.

Given the strategic significant into playAWARDS and the meaningful investments we continue to make in our platform and operating infrastructure, we've elected to break out the business as a distinct unit. Over time, we think playAWARDS can grow to be a stand-alone business that not only bolsters the performance of our games but generates direct revenues and meaningful profits of its own. As that happens, we're confident that the unique value of this asset will be recognized and reflected in our company's valuation. With all these exciting initiatives in place, we believe 2024 is shaping up to be another year of progress and growth. We're intensely focused on scaling our business and fully exploiting our unique rewarded play model, all while striking the right balance between optimizing our core business, with continuing to invest in our future opportunities.

In doing so, we continue to expand our audience, scale revenues, improve margins and drive higher profits. And Scott will provide more details when he outlines our 2024 guidance in a moment. However, I want to quickly touch on our thinking and approach to capital allocation. The dislocation between the market's view of our stock and what we believe to be fair value is diverged considerably. As such, we're evaluating buying back our stock under the recently re-up $50 million share repurchase authorization. We also remain committed to pursuing accretive and strategically transformative M&A opportunities that are in keeping with our overall strategy and expansion plans. Finding the right asset at the right price is challenging, but I can assure you we’re very active.

I’m confident the right opportunity will present itself eventually. And when it does, we have the needed resources to act quickly. In the meantime, we expect to continue to generate positive cash flows and add to our already sizable cash balance. I’ll now turn the call over to Scott to provide some additional comments and share our 2024 financial guidance. Scott?

Scott Peterson: Thanks, Andrew. Good afternoon, everyone. In addition to today's press release, our Form 10-K will be filed shortly. Please look to those filings for a comprehensive summary of our quarterly and full year results. Before discussing our results, I wanted to draw your attention to new disclosures this quarter. We are now providing both revenue and EBITDA separately between our playGAMES and playAWARDS segments. We hope that this added information will better clarify our businesses and allow you to more closely track their growth over time. We finished the year strong with quarterly revenues and adjusted EBITDA ahead of consensus expectations. Fourth quarter adjusted EBITDA of $14.7 million was 22% higher than a year ago, continuing the trend of sizable gains that we've seen since the beginning of the year.

For the full year, adjusted EBITDA was up 63% from 2022 and the adjusted EBITDA margin of 20% was up 680 basis points from last year's margins of 13.2%. Revenues in the quarter were down modestly versus a year ago, largely due to the end of a licensing contract in the second quarter of 2023. Adjusting for this other revenue, we would be flat versus a year ago. For the full year, our revenues were up 7% versus 2022. As a reminder, the one-year anniversary of the acquisition of Brainium occurred in October, so our results from that point forward are comparable on a year-over-year basis. DAU and MAU in the quarter were up 6% and 16%, respectively. Tetris continues to drive the bulk of these gains, though we are seeing healthy lifts across our growth portfolio.

Our core social casino portfolio saw user declines in the quarter on the back of continued industry weakness. As Andrew discussed earlier, we are optimistic about this portfolio heading into 2024 and believe it can be a positive contributor to overall user growth. Excluding the impact of our advertising-driven games Tetris and Brainium, ARPDAU was up roughly 3% in the quarter. The growth in ARPDAU was broad-based across our social casino portfolio. Both Tetris and Brainium grew ARPDAU considerably from the fourth quarter of 2022, and we believe there is significant opportunity for growth ahead. We ended the quarter with approximately $133 million in cash, no borrowings and full availability of our $81 million revolver. We did not repurchase any shares during the quarter and still have $50 million remaining in our stock purchase authorization.

Our broader capital allocation goals remain the same, investing in our games, building and scaling playAWARDS, pursuing strategic and accretive M&A and investing in our public equity. Finally, our outlook for 2024. We estimate that revenues will range between $315 million and $325 million and adjusted EBITDA between $65 million and $70 million. With the annualization of Brainium, these estimates are apples-to-apples and do not include M&A. This is particularly noteworthy for the revenue guidance, which implies organic growth despite what we believe will continue to be a challenging industry and economic backdrop. Our guidance also implies continued adjusted EBITDA margin gains. When modeling our 2024 results, please consider the following. We expect many initiatives to gain momentum throughout the year, so you should assume a sequential pickup through each quarter.

Other revenues will track closer to the quarterly rate generated in fourth quarter of 2023. This change will annualize in the third quarter of 2024. Thank you. I will now turn the call back to Andrew for some closing remarks.

Andrew Pascal: Thank you, Scott, and thanks to everyone participating in today's call. Before we end our prepared remarks and open the call for questions, I'd like to reinforce some key points. 2023 was a year of growth, development and change. We nearly doubled our EBITDA, increased revenues in a declining market and put in place the building blocks for substantial progress in the years to come. Entering '24, our business is substantially more diversified than it was just a year ago. A majority of our games are outside the social casino category and advertising revenues now make up nearly 20% of our overall sales mix. These new businesses are also our fastest-growing, implying a continued mix shift towards higher margins and larger addressable markets.

With our recent license extension in place, we're committed to establishing Tetris as a world-class mobile franchise. We have exciting new games in development and are working towards introducing our first new title later this year. playAWARDS will begin qualifying its revenue opportunities this year. There continues to be a high level of interest in our program, technology, tools and unique capabilities, and we believe this will be a meaningful driver of future growth. We're making progress in our efforts in myVegas and myKONAMI and believe both games are on track for notable improvement in 2024. Brainium exited last year with substantial momentum as our efforts around new advertising initiatives began to take hold. We expect to see continued momentum this year.

Our balance sheet remains strong with $133 million in cash and no debt and is supported by an operating business that generates positive cash flows. Our plan remains to use our capital to make transformative acquisitions and our goal is to make progress on that front this year. At the same time, we continue to look at other ways to use our capital to generate shareholder value, including strategic investments in our business and making use of our $50 million share repurchase authorization. Lastly, I continue to believe there's a large discrepancy between the core value of our business and the value ascribed to us in the public markets. While frustrating, rest assured, our leadership is aligned, as the teams are focused and we're all committed to strengthening our company.

I want to thank you for your time today. We appreciate your support and hope you're as excited about this year as we are. I'll now turn the call over to the operator to take your questions. Operator?

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