The registration statement for the casino-games business has been filed confidentially. The number of shares to be offered and their price range are yet to be determined. Reuters reports suggest that the business aims to raise $1bn from the IPO, valuing it at approximately $10bn.
Following the filing of the registration statement, the SEC will conduct a review of the business before the offering can proceed. However, the offering is subject to market and other conditions.
This business is owned by a consortium of Chinese technology investors, led by Shanghai Giant Network Technology and including Alibaba founder Jack Ma’s Yunfeng Capital. The consortium acquired Playtika from Caesars Entertainment in a $4.4bn deal in August 2016.
Caesars had owned Playtika since 2011, during which time it transformed from a 10-person start-up into a company with over 1,300 employees. Since the acquisition by the Chinese consortium, Playtika has continued to be independently run under the leadership of co-founder and CEO Robert Antokol.
For more information, you can read the full story on InnovateChange North America.
