02 Aug
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Chinese consortium to acquire Playtika from Caesars for $4.4bn

Caesars Entertainment Corp is set to sell its Playtika business for $4.4 billion (€3.9 billion) to a Chinese consortium.

The investors, led by Shanghai Giant Network Technology Co., the online casino-style games unit will continue to be operated from the company’s headquarters in Herzliya, Israel.

Also, the Playtika team will manage the daily operations as was done before this deal.

The all-cash deal involves Yunfeng Capital; a private equity firm founded by Alibaba Group Holding founder Jack Ma; China Oceanwide Holdings Group; China Minsheng Trust Co.; CDH China HF Holdings Company Limited; and Hony Capital Fund.

Commenting on this agreement, Shanghai Giant Network Technology founder and chairman, Shi Yuzhu, said.

“Playtika's growth has been exceptional, and highlights its outstanding team, excellent corporate culture, cutting-edge big data analytics, and its unique ability to transform and grow games.”

Robert Antokol, co-founder and chief executive of Playtika, stated:

“This transaction is a testament to Playtika's unique culture and the innovative spirit of our employees who for the past six years have consistently designed, produced and operated some of the most compelling, immersive and creative social games in the world.”

Mitch Garber, chairman and chief executive of Caesars Interactive Entertainment, commented:

“It has been a particularly rewarding experience growing Playtika from a 10-person start-up, when CIE acquired them in 2011, into a global leader.

“Playtika today is a highly profitable growth company with more than 1,300 employees, multiple top grossing titles and millions of daily users."

The agreement needs to get some regulatory and is likely to be sealed by third or fourth quarter of this year.

 

Simona

Kai started working in the Gaming Industry in 2001 when he managed a Horse Betting Shop in Germany. With the more and more upcoming needs for Sportbetting Solutions for the German speaking market he moved in 2003 in Malta where he built up TopSportWetten, one of the first Sportbetting operators working from Malta with a Remote Gaming License.

In 2005 he moved to a new venture and joined the newly formed Team of BetUnited, a Company that had the goal to target the German speaking online market with a full portfolio of Betting, Poker, Casino and Games of Skill.

In 2007 he left BetUnited and concentrated on helping new Companies coming to Malta to obtain a remote gaming license and establish operators on the island.

In 2011 he founded Simka Consulting to combine his knowledge in the operational part of the IGaming Business with the Marketing expertise of Simona.

Past Projects:

  • TopSportWetten - Managing Director and Key Official
  • Bet United - Managing Director and Key Official
  • MMBet - Managing Director and Key Official
  • Olympia Bet - Managing Director and Key Offical
  • Production Planning and Project Manager - Infratec Pro Ltd.

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