Playtika Strengthen Dominance With Big Blue Parrot Acquisition
The Israeli based social casino powerhouse Playtika have made another acquisition aimed at ensuring they remain at the top of the free-to-play casino market. Playtika was purchased in 2011 by Caesars Interactive Entertainment in 2011 only a year after been founded.
It is no secret that the main aim of social casino games is to create an additional user base for the real money version when and if it becomes legal in countries like the U.S. However in the last few years the social casino market has proved lucrative in itself as millions of avid fans are more than happy to pay for add-ons for their free-to-play games.
Playtika’s latest acquisition is that it Big Blue Parrot (BBP) who are behind the popular Poker Friends app. The exact amount was not disclosed but Globes is reporting that it was in the region of $10 million. Among the original investors in BBP were 888 Holdings CEO Gigi Levy. Playtika have completed various acquisitions in the last few years including that of Buffalo Studios, Pacific Entertainment etc.
CIE has seen an excellent return on their original investment as their mobile and social gaming revenue rose by 30.5% to $175.4 m in the most recent quarter. Co- founder and CEO of Playtika Robert Antokol commented on the acquisition,” Gilad Almog, BBP’s founder, together with his team, will enable us to continue expanding our reach in the global market and moreover to hold onto our position in Israel as the leader of the gaming industry.” Antokol was quick to point out that the deal would also strengthen the local Israel market. He said,” As a large web-based company in Israel, Playtika sees itself as supporting the overall goals of the local industry by giving opportunity to local entrepreneurs and innovators in the field.”