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Playtika Would Go to Chinese in Massive Caesars Sell-Off



Playtika, the mobile social casino games designer owned by Caesars Interactive Entertainment (CIE), will be sold to a consortium of Chinese investors for the $4.4 billion cash deal that is all-in. CIE’s other assets, including the global World Series of Poker (WSOP) and its own real-money online gambling operations in Nevada and brand New Jersey, are not area of the deal.

Caesars Interactive CEO Mitch Garber took a small israeli start-up called Playtika in 2011 whenever it had just 10 workers into the fold. This week, CIE consented to offer the gaming that is social for $4.4 billion to the Chinese.

The consortium is led by Giant Interactive, owner of ZT on line, perhaps one of the most popular MMO (massively multiplayer online) role-playing games in China. Also in the mix is Yunfeng Capital, a private equity company founded by Chinese e-commerce giant the Alibaba Group.

Caesars has experienced speaks about the purchase of its social gaming operations since at minimum May, with insiders reporting it had gotten offers that are multiple. The casino giant is in the means of putting its operating that is main unit Caesars Entertainment Operating Co (CEOC), through Chapter 11 bankruptcy proceedings so as to reorganize around $18 billion of its industry-high debt.

Playtika’s Extraordinary Growth

As part of the procedure, CIE’s parent, Caesars Acquisition Company (CAC), will merge with Caesars Entertainment (CEC), to be ab Sigue leyendo