Harrah's casinos buys Playtika for $85m

Social games company Playtika has been acquired just one year after it was founded.

Harrah's casinos has acquired Israeli social games developer Playtika Ltd. at a company value of $80-90 million, only a year after the company was founded.

Harrah's will initially acquire 51% of Playtika, which has developed a number of games played on Facebook, including slots and dice. Facebook bans gambling with real money; winners of games only receive points.

Playtika was founded by Robert Antokol and Uri Shahak. It has 15 employees in Israel and 30 employees at its development facility in Ukraine. Playtika claims to have nine million Facebook users.

Harrah's is a unit of Caesars Entertainment Corporation.

Published by Globes [online], Israel business news - www.globes-online.com - on May 18, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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