A group of Chinese investors have agreed to buy Playtika, which makes online casino games, from Caesars Interactive Entertainment for US$4.4bn.
Source: Playtika.com
The Israel-based Playtika, which was acquired by Caesars in 2011, supplies games such as Slotomania and Bingo Blitz. The games do not charge users to play but feature in-game purchases, which circumvents the fact that gambling is illegal in mainland China.
Playtika will continue to operate independently at its headquarters in Herzliya, Israel, and will retain its existing management team.
According to a statement, the consortium includes Yunfeng Capital, the private equity company founded by Alibaba Group Holding chairman Jack Ma, China Oceanwide Holdings Group, China Minsheng Trust, and Hony Capital Fund.
