Game received five-star score from 93,000 users (illustration)
Photo: Jupiter
Israeli startup sold for $90M
Social game developer Playtika partially acquired by hotel and casino chain Harrah's of the Caesars Entertainment Corporation
Israeli social game developer Playtika has been partially purchased by hotel and casino chain Harrah's of the Caesars Entertainment Corporation for $85-90 million.
The principle behind the games developed by Playtika is playing from within a social network like Facebook, and the possibility to play against other users. The company specializes in "casual games", which do not require much planning and strategy, like the popular Bubble and Angry Birds.
The online gaming startup was founded by Robert Antokol and Uri Shahak and has raised some $1.5 million in funding from investors. The company has about 10 million monthly users.
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The company's most popular game, Slotomania, simulates a slot machine. However, as social network users cannot bet on money, they receive points for each win. The game itself is free, but players interested in reaching more advanced stages can purchase virtual money with real money and use it in the game.
In Slotomania's Facebook page, the game received a five-star score from 93,000 users, some of whom defined the game as "enjoyable" and even "addictive".
The cooperation with Harra's will see Playtika develop social network application for the chain's brand, implementing a major marketing move for the company – entering the world of social networks.
Playtika has two centers, in Israel and Ukraine, which together employ 45 workers. Following the acquisition and the capital infusion, the company is expected to grow and recruit additional workers.
Playtika confirmed Caesars' strategic investment in the company. "We are glad to be using the company's resources in order to continue building Playtika, and this move strengthens our belief that we headed in the right direction. We're looking forward to the cooperation, which will generate new and exciting products in the social games market," the company said.
Caesars said it was looking forward to working with Palytika's "strong, experienced management team" in developing free-to-play social games globally.
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