Playtika sold: $4.4B
August 1st, 2016 at 8:43:26 AM
permalink
Caesars just sold off Playtika for $4.4B, eclipsing what was (I think) the largest social casino deal to date of IGT buying DoubleDown for $500M:
http://www.bloomberg.com/news/articles/2016-07-30/shanghai-giant-led-group-buys-caesars-playtika-for-4-4-billion
http://www.bloomberg.com/news/articles/2016-07-30/shanghai-giant-led-group-buys-caesars-playtika-for-4-4-billion
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice."
-- Girolamo Cardano, 1563
August 25th, 2016 at 7:25:56 AM
permalink
Well its a business and I'm sure Caesars has a reason to sell it. It might be that it's not making enough money for Caesars and they need to dispose it. Another thing it can be that they need the money to acquire or even build something for them.
August 25th, 2016 at 8:18:40 AM
permalink
Quote: CasinodepositorWell its a business and I'm sure Caesars has a reason to sell it. It might be that it's not making enough money for Caesars and they need to dispose it. Another thing it can be that they need the money to acquire or even build something for them.
They sold it to pay off their second level lien holders, from what I heard. It was the most profitable division in the entire company.
A falling knife has no handle.
