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China: $4.4bn for another online game company

By  |  August 1, 2016

A Chinese consortium led by Shanghai Giant Network Technology Co. have agreed to purchase an Israeli games business for $4.4 billion in cash.

The consortium will purchase a 100% stake in Caesars Interactive Entertainment’s subsidiaries, including mobile-games unit Playtika.

CIE has developed casino-style games including “Caesars Casino,” “Bingo Blitz” and “World Series of Poker.”

The deal wonn’t include “World Series of Poker” and CIE’s real-money online gaming business.

Playtika’s revenue hit $725 million in 2015 and $456 million in the first half of 2016. Playtika’s “Slotomania” is currently the seventh highest-grossing game on Apple’s U.S. App Store. The game is free to play and generates revenue from in-game transactions.

Full Content: The Wall Street Journal

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