Playtika Acquired by Caesars Entertainment Casino Group for $80M to $90M

Slotomania developer Playtika was partially purchased by Harrah’s, a casino brand in the Caesars Entertainment Corporation, for between $80 million and $90 million. Harrah’s initially acquires 51% of the social game developer.
According to reports from Israeli media, the buy is “astonishing” because Playtika is a small social game developer without a positive cash flow while the Harrah’s brand is the first big United States casino chain to invest such a large sum of money in an Israeli online gaming start-up. Playtika was founded in late 2010 by Robert Antokol and Uri Shahak after raising a reported $1 million in funding from investors. The developer currently has 14 or 15 full time staff members in Israel with additional staff at a facility in the Ukraine.
On Facebook, Playtika has seen success with slot machine simulation Slotomania and with the recently launched Farkle Pro. According to our traffic tracking service, AppData, the developer enjoys 2.9 million monthly active users and 643,000 daily active users across all its Facebook games. Playtika reports it has 9 million total users worldwide across multiple social networks.