A consortium of gaming companies, equity, and investment firms has put together $4.4b to acquire Caesars Interactive Entertainment’s entire social and mobile games division known as Playtika. Once the transaction is complete, Playtika will remain in Herzliya, Israel, and its current management team will run the operation. It will also stay as an independent firm.
A consortium has acquired Playtika from Caesars Interactive Entertainment
Shanghai Giant Network Technology, one of China’s largest online game companies, headlined the consortium, along with Jack Ma’s equity company Yunfeng Capital, China Minsheng Trust, Hony Capital Fund, and China Oceanwide Holdings Group.
Playtika’s CEO and co-founder Robert Antokol said:
“This transaction is a testament to Playtika’s 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. We 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. This is an amazing milestone for all Playtikans and we truly value how unique this opportunity is to continue executing our vision with such a strong partner.”
Provided all regulatory checks are approved the deal is expected to close before the end of 2016.