Caesars Interactive sells Playtika for $4.4bn
Consortium led by Chinese online games firm Giant acquires the worldâs largest social casino business as part of an all-cash deal
A consortium of Chinese investors and online games firm Giant has agreed a deal to acquire Caesars Interactive Entertainmentâs (CIE) social casino business Playtika for $4.4bn.
The all-cash transaction, backed by Chinese business magnate Jack Ma, will see CIE sell its entire stake in Playtika but retain its World Series of Poker and real-money online gaming businesses.
Following the completion of the deal, the social and mobile games business will continue to run as an independent operation based out of its headquarters in Herzliya, Israel.
âPlaytikaâs growth has been exceptional, and highlights its outstanding team, excellent corporate culture, cutting-edge big data analytics, and its ability to transform and grow games,â Giantâs founder and chairman, Shi Yuzhu, said.
âWe are looking forward to Playtika continuing to innovate and excel.â
According to research firm Eilers & Krejcik Gaming, Playtika is the worldâs biggest social casino business with an estimated 25% market share via games including Slotomania and House of Fun.
Co-founder and CEO Robert Antokol, who will continue in his current role, said he was looking forward to building the business with the firmâs new owners.
âThis transaction is a testament to Playtikaâs unique culture and the innovative spirit of our employees who for the past six years have consistently designed, produced and operated some of the most compelling, immersive and creative social games in the world,â he said.
âWe are incredibly excited by the commercial opportunities the consortium will make available to us, particularly in its ability to provide us access to large and rapidly growing emerging markets,â Antokol added.
Playtika was co-founded in 2010 by Antokol and in addition to its headquarters in Israel, has offices in Argentina, Australia, Belarus, Canada, Japan, Romania, Ukraine and the US.