Hit and Run: Caesars Sells Playtika for $4.4B; VICE Examines Poker Staking; PokerStars NJ City Tour
It’s official, Caesars sells Playtika for $4.4 billion. VICE takes a deep dive into the world of poker staking. Lucky Lady card room has a very unlucky week. And more.
Caesars sells Playtika to Chinese consortium
It’s now official, Caesars has offloaded the bulk of its interactive division, CIE, to a consortium of Chinese businesses. The $4.4 billion deal will see Caesars offload, Playtika, its social casino business that could go down as one of the best purchases in gaming history.
Caesars paid about $90 million for Playtika in 2011; that’s a pretty good ROI.
“Playtika’s growth has been exceptional, and highlights its outstanding team, excellent corporate culture, cutting-edge big data analytics, and its unique ability to transform and grow games,” said a representative of the Consortium, Giant’s founder and Chairman Shi Yuzhu. “We are looking forward to Playtika continuing to innovate and excel.”
CIE also owned WSOP.com and the World Series of Poker brand, but as was reported when the deal first came to light, WSOP was not included in the sale, and will be rolled into a new company under the Caesars umbrella. That said, the company could still spin-off the WSOP and their real-money online products.
– The results are often mixed when mainstream news outlets try to pull back the curtain on poker, but VICE did a pretty good job of explaining the current staking situation in the world of tournament poker. The article looks at both sides of the staking coin, and the author got input from a number of people entrenched in the poker world, with strong views on staking.
– The former head of the American Gaming Association, Frank Fahrenkopf, stepped down from the AGA several years ago, but not from his role as the co-chair of the Commission on Presidential Debates. Fahrenkopf is one of the decision makers when it comes to the when, where, and the rules governing what is expected to be one of the most watched presidential debates in US history.
– PokerStars New Jersey has announce an interesting new promotion, an eight day tournament series they’ve dubbed PokerStars NJ City Tour, which features 10 tournaments, each of which bearing the name of a major New Jersey City.
– Lucky Lady Card Room is in some serious hot water after law enforcement busted an illegal sports betting ring being run out of the small card room. The Lucky Lady will probably also feel some heat from some in the poker community for their new poker chips, which seem a bit out of place in 2016:
— Daniel Strelitz (@dDeoxyribo) July 31, 2016