Giant-Led Consortium to Acquire Caesars’ Playtika for Lobstermania Slots App $4.4 Billion

Giant-Led Consortium to Acquire Caesars’ Playtika for $4.4 Billion

A small grouping of Chinese businesses, led by Shanghai Giant Network tech Co., Ltd. affiliate, has emerged because the preferred buyer of social casino video gaming developer Playtika. The consortium has consented to pay the amount of $4.4 billion for the Israel-based gaming studio.

Playtika ended up being created in 2010 and ended up being bought by Caesars Interactive Entertainment a later year. The company started out with ten workers and contains gradually grown to now lobstermania slot machine free download employ more than 1,000 people. Playtika had been among the first, if not 1st, business to supply casino that is social. In accordance with industry experts, it currently holds the biggest share into the rapidly growing $3-billion social casino market. Playtika has over 6 million daily players that are active 190 nations across the world.

Whenever Caesars Interactive Entertainment, subsidiary of major gambling operator Caesars Entertainment Corp., purchased the game designer, it thought that it was a great and lucrative company to go along with its World number of Poker brand and its own real-money interactive unit free lobstermania slots no download. However, this has also been announced that the online gambling operator would offer off the business in a bid to improve cash for a huge debt it has been facing for a while now.

The group of Chinese organizations buying Playtika includes Shanghai Giant system Technology Co., Ltd. affiliate Giant Investment (HK) Limited; China Oceanwide Holdings Group Co., Ltd.; Yunfeng Capital, an equity that is private founded by Jack Ma, creator and igt slots lobstermania download Chairman of Alibaba Group; CDH China HF Holdings Company Limited; Asia Minsheng Trust Co., Ltd.; and Hony Capital Fund.

Under the regards to the acquisition deal, Playtika’s current management team shall continue operating the business’s daily operations from its headquarters in Herzliya, Israel. Continue reading “Giant-Led Consortium to Acquire Caesars’ Playtika for Lobstermania Slots App $4.4 Billion”