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Chinese Consortium Buys Israeli Gaming Company for $4.4 Billion

A consortium of Chinese companies has announced that it is paying $4.4 billion for Playtika, the Israeli social games developer, which was owned by Caesars Interactive Entertainment. The group, led by an affiliate of Shanghai Giant Network Technology, one of China’s largest online games companies, said it has entered into a definitive agreement with Caesars to acquire the Herzliya-based Playtika in an all-cash deal.

According to reports, Caesars announced that it would sell off the Israeli developer in order to pay down debt. South Korea’s Netmarble reportedly made an offer for the gaming company but was outbid by the Chinese consortium.

The consortium includes Giant Investment (HK); Yunfeng Capital, a private equity firm founded by Alibaba Group Holding founder Jack Ma; China Oceanwide Holdings Group; China Minsheng Trust; CDH China HF Holdings Company; and Hony Capital Fund.

“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,” said Robert Antokol, co-founder and CEO of Playtika.

“We are incredibly excited by the commercial opportunities the Consortium will make available to us, particularly in its ability to provide us access to large and rapidly growing emerging markets. This is an amazing milestone for all Playtikans and we truly value how unique this opportunity is to continue executing our vision with such a strong partner.”

Playtika is credited as the pioneer of free-to-play games on social networks and mobile platforms. It is the creator of Slotomania, House of Fun, and Bingo Blitz, which consistently rank among the top-grossing games on Apple’s App Store, Google Play, and Facebook. Playtika’s games are played daily by more than six million people in 190 countries, in 12 languages, and on more than 10 platforms.

(via Israel21c)

[Photo: Israel21c ]