Caesar Interactive Entertainment (CIE) is divesting its social gaming division, Playtika, for an impressive $4.4 billion. Acquiring the studio is a group of Chinese investors, including a branch of Shanghai Giant Network Technology, a prominent force in online gaming. Speculation had circulated that CIE itself might be acquired for approximately $4 billion, with entities like Giant and others expressing interest. It appears their attention was particularly drawn to CIE’s achievements in mobile gaming, especially given the flourishing revenue from their mobile and social games!
Notably, CIE is retaining its World Series of Poker trademark and its real-money online gaming operations – these are excluded from the agreement. This transaction is quite significant, considering Caesar’s obtained Playtika through a series of purchases commencing in 2011.
Should all proceed without a hitch, the agreement should conclude later this year, with Playtika maintaining its central office in Israel.
Playtika has undergone remarkable expansion,” stated Robert Antokol, creator and head of Playtika. “This demonstrates our exceptional staff, robust organizational ethos, top-tier data analysis, and unparalleled capacity to reshape and expand games.”
Mitch Garber, Chairman and CEO of CIE, remarked, “Witnessing Playtika’s journey from a 10-person fledgling enterprise when CIE purchased it in 2011 to the industry titan it is today has been incredibly fulfilling. Playtika is now a highly lucrative and swiftly expanding business with over 1,300 personnel, numerous successful games, and millions of daily users. Robert is a genuine trailblazer and a leader within the Israeli business sphere who has not only constructed a fantastic company but also one of the most distinctive cultures I’ve encountered.”
Caesars Entertainment will unveil its financial outcomes for the second quarter of 2016 on Tuesday.
