It was reported that Chinese investors had announced their decision to acquire the Israeli-based company Playtika, one of the leading social games developers. Caesars Interactive Entertainment, which owns Playtika, has agreed to sell its asset for 4.4 billion dollars.
The buyer is a Chinese consortium led by Shanghai Giant Network Technology.
According to the rumors Playtika had to be sold together with the WSOP poker championship. However, the Chinese consortium acquired only the social games provider.
So, the WSOP will continue to be owned by Caesars Entertainment.
Playtika offers numerous free models to its customers. For example, there are such games as Slotomania and Bingo Blitz.
The company was founded in 2010. Therefore, it has been developing excellent social games for seven years. The acquisition of the company by the Chinese investors will surely result in the expansion of the products released by Playtika to the new markets. This will help the company to increase the number of customers.
It is interesting to note that only after a one-year operation period the company was acquired by Caesars Entertainment. The agreement was signed in May 2011, and the Nevada-based company that was one of the largest owner, operator and developer of casinos paid between $80 and $90 million in accordance with the deal. The five-year evolution of the company under the guidance of Caesars Entertainment increased its staff from 10 employees in 2011 to 1,300 employees in 2016. Caesars Entertainment has made one of the leading social games developers from Playtika. At the moment, the company offers numerous games and can boast millions of customers.
The final agreement will be competed in the fourth quarter of 2016 after discussions of all the nuances of the deal.
We are looking forward to seeing whether this acquisition will help Caesars Entertainment to cope with its bankruptcy announced on January 15, 2016.