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Caesars Interactive Sells Social Gaming Platform Platika for $4.4 Billion
- Updated: August 1, 2016
Caesars Acquisition Company (CAC) announced in a press release over the weekend that a group of Chinese investors agreed to acquire Playtika, a world-leading social gaming platform, from Caesars Interactive Entertainment, Inc. (CIE) for $4.4 billion in an all-cash deal.
According to the press release on PR Newswire, the Chinese consortium is led by Giant Investment (HK) Limited, an affiliate of one of China’s biggest online game companies Shanghai Giant Network Technology Co., Ltd. Other big-name partners also part of the consortium include Yunfeng Capital, a private equity firm created by Alibaba Group Holding Ltd. founder Jack Ma; China Oceanwide Holdings Group Co., Ltd.; China Minsheng Trust Co., Ltd.; CDH China HF Holdings Company Limited; and Hony Capital Fund.
Rumors began circulating in May regarding a potential sale of the Caesars Entertainment Corp. and CAC joint-venture CIE, which at the time was believed to potentially contain more than just Playtika, but not include the popular World Series of Poker (WSOP) poker festival. However, it is reported that the sale will not include anything outside of Playtika. Meaning that both the WSOP and real-money online gaming businesses will continue to be owned and operated by CIE.
The Playtika platform operates many free games including Slotomania and Bingo Blitz …
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