Netmarble Games Put In Bid To Acquire Playtika
The phenomenal rise of social casino brands in the last five years is nothing short of spectacular. It is hard to believe that the largest social casino brand Playtika was purchased by Caesars in 2011 for $85m which at the time seemed an absolute fortune for a free-to-play market.
The investment by Caesars in a company that had monthly revenues of $100k has turned out to be their lucky lottery ticket as Playtika is now considered one of their most prized and valuable assets. The Cinderella story of Playtika is summed up by their revenues which last year were around $725m and are expected to reach $900m this year. Playtika’s success story has got South Korea’s Netmarble Games Corp reportedly offering to acquire them for something between $3.4b – $4.3b according to the Korean business media outlet Pulse News.
Netmarble has reportedly submitted a letter on intent to purchase Playtika and is rounding up the finances to ensure they move on to the next round of bidding. We reported back in May that Caesars was considering selling their online subsidiary Caesars Interactive Entertainment of which Playtika is the main asset in order to repay their massive debts.
According to Korean media Netmarble is solely interested in the social free-to-play assets of Playtika and is not interested in the real money branches of CIE like WSOP or their online gambling business.