Chinese consortium acquires Playtika
The Israel-based online casino games company caught the eye of a Chinese consortium led by Shanghai Giant Network Technology.
Israel.- Playtika, the Israel-based online casino games firm, was acquired by a Chinese consortium led by by Shanghai Giant Network Technology for €3.94 billion paid in cash.
Back in 2011 Caesars Entertainment Corp acquired Playtika, which since then, grew into a profitable company with more than 1300 employees and a tremendous potential for growth.
Five years ago, Caesars Entertainment only spent over €152 million when it acquired the company with headquarters in Herzliya. Granted they invested massively in the online casino games unit, the return on investment is spectacular.
After the acquisition, Playtika will retain much of its independence as the Chinese buyers are thrilled at the progress made so far and try to tap into the new commercial opportunities presented by this deal. Playtika is not only a leader among online casino providers of software, but also a strong promoter of mobile applications for gambling.
