{"id":197,"date":"2024-06-17T23:21:55","date_gmt":"2024-06-17T20:21:55","guid":{"rendered":"https:\/\/duckyluck100medusanodepositbonus.icu\/2024\/06\/17\/caesars-interactive-entertainment-sells-playtika-to-shanghai-giant-network-for-4-4-billion\/"},"modified":"2024-06-20T17:08:26","modified_gmt":"2024-06-20T14:08:26","slug":"caesars-interactive-entertainment-sells-playtika-to-shanghai-giant-network-for-4-4-billion","status":"publish","type":"post","link":"https:\/\/duckyluck100medusanodepositbonus.icu\/2024\/06\/17\/caesars-interactive-entertainment-sells-playtika-to-shanghai-giant-network-for-4-4-billion\/","title":{"rendered":"Caesars Interactive Entertainment Sells Playtika to Shanghai Giant Network for $4.4 Billion"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/UqBk6omJr0A\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Caesar Interactive Entertainment (CIE) is divesting its social gaming division, Playtika, for an impressive $4.4 billion. The purchaser? A group supported by a branch of Shanghai Giant Network Technology, a prominent entity in the online gaming realm.<\/p>\n<p>Rumors circulated regarding a possible CIE acquisition, with the estimated value hovering around $4 billion. The Wall Street Journal indicated interest from multiple gaming firms, and Bloomberg even cited a $4 billion proposal.<\/p>\n<p>Evidently, CIE&#8217;s mobile gaming sector was the crown jewel of this transaction. Consider this &#8211; in the initial quarter of 2016 alone, CIE&#8217;s earnings surged by 29% to $2.28 billion. They attributed this rapid expansion to the triumph of their social and mobile games, particularly their effectiveness in monetizing their engaged user community.<\/p>\n<p>Important to mention: CIE is retaining its World Series of Poker trademark and its real-money online gaming activities. These are excluded from the agreement.<\/p>\n<p>This entire Playtika narrative originated in 2011 when Harrah&#8217;s (which subsequently transformed into Caesars Entertainment) secured a 51% ownership in the company for a substantial $90 million, with the prerogative to acquire the remainder later. And what do you know? They exercised that option, purchasing the outstanding 49% later that year, as per The Globe and Mail.<\/p>\n<p>Looking ahead, the transaction is projected to finalize sometime within the third or fourth quarter of 2016, with Playtika maintaining its central office in Israel. <\/p>\n<p>Yasuhiro Shi, Giant Network&#8217;s founder and chairman, commended Playtika, stating, &#8220;Their triumph is a testament to their exceptional team, robust company ethos, advanced data analytics, and unparalleled capability to revitalize and expand games.&#8221;<\/p>\n<p>Mitch Garber, Chief Executive Officer of Caesars Interactive Entertainment (CIE), reminisced about their experience with Playtika since its acquisition in 2011. He remarked on evolving the company from a modest start-up with a limited staff to a global powerhouse in the gaming sector.<\/p>\n<p>Garber added, &#8220;Playtika is now a highly lucrative and swiftly expanding enterprise with over 1300 employees, a collection of successful games, and millions of daily active players. Robert, a true innovator and captain in the Israeli business realm, has not only established a remarkable company but also nurtured one of the most distinctive company cultures I&#8217;ve ever witnessed.&#8221;<\/p>\n<p>This announcement was made in advance of Caesars Entertainment&#8217;s second-quarter financial outcomes for 2016, which were slated to be disclosed the subsequent Tuesday. <\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"text-justify mb-2\" >Caesar Interactive Entertainment (CIE) is divesting its social gaming division, Playtika, for an impressive $4.4 billion. The purchaser? A group supported by a branch of Shanghai Giant Network Technology, a prominent entity in the online gaming realm. Rumors circulated regarding a possible CIE acquisition, with [&hellip;]<\/p>\n","protected":false},"author":56,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Playtika Sold for $4.4 Billion: Shanghai Giant Makes a Move<\/title>\n<meta name=\"description\" content=\"Caesar Interactive Entertainment (CIE) parts ways with its social gaming division, Playtika, in a massive $4.4 billion deal. 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