Chinese Regulation May Hinder Playtika's Sale from One Giant Interactive Unit to Another, Report Says
In July 2016 the online gaming company was sold for $4.4 billion to a Chinese consortium that included an offshore affiliate of Giant Interactive
For daily updates, subscribe to our newsletter by clicking here.In July 2016, the Israel-based company was bought from Caesars Interactive Entertainment Inc. for $4.4 billion by a Chinese consortium that included several Chinese holding companies and private investors. Among them were Yunfeng Capital, a private equity firm founded by Alibaba Group Holding Ltd. founder Jack Ma, and Giant Investment (HK) Ltd., an offshore affiliate of Giant's.
Established in 2010 and headquartered in Israel with 1,700 employees in over 10 countries, Playtika develops free-to-play virtual casino games like Slotomania, one of the most popular applications on Apple’s App Store, Google Play and Facebook. On Monday the company announced it would invest up to $400 million in digital entertainment and consumer internet startups.Playtika does not have a mandate to discuss internal regulatory matters in China, a company spokesman told Calcalist Thursday.