Shanghai Giant Network Technology, which is one of the most reputable Chinese gaming organizations, reported that it had purchased the Israeli-based company Playtika owned by Caesars Interactive Entertainment for $4.4 billion.
According to the deal between the Chinese consortium and Caesars Entertainment, Playtika will still be independent. The staff of the company will not be dismissed.
Playtika has been developing social games since 2011. The company is famous for its innovative technologies and modern gaming solutions. The acquisition of Playtika is a new huge step for the company. It will be able to enter new markets and improve its portfolio in order to constantly please its novice and regular customers with the best games. However, the company will be able to maintain its views of the working process and corporate culture.
The company headquartered in Herzliya has shown the ability to grow and expand its activities. Therefore, it is supposed to be a very favorable for the Chinese investors.
The company was founded in 2011. At the beginning of its operation the staff of Playtika consisted of ten individuals. However, six years of operation has made a global leader from the company. Now the staff of the company includes 1,300 employees who are engaged in creation of excellent and high-quality social games.
Despite the fact that the agreement has been already signed, it is necessary to clarify some details. So, the complete deal is expected to appear at the end of 2016.
It was reported that in addition to Playtika the Chinese consortium had had an intention to acquire the World Series of Poker (WSOP) championship and real-money online gaming businesses. However, the investors from China have decided in favor of Playtika only.
Playtika allowed users to play using digital currencies. However, it was impossible to exchange them for real money. After the acquisition this rule will not be changed.