Israeli mobile gaming company Playtika has hired investment banks to prepare to raise $1 billion in a Wall Street public offering, at a $10 billion company valuation, “Reuters” reports, according to people familiar with the matter.
The Herzliya-based company has hired Morgan Stanley and other banks to prepare for the offering, “Reuters” adds, as the mobile gaming sector has been enjoying a surge as consumers were forced to stay home during lockdown.
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Founded in 2010, Playtika claims to have 27 million monthly active users, and is known for its casino-themed games and apps for poker and solitaire.
In 2016, Playtika was acquired by a Chinese investment group from Caesars Active Entertainment for $4.4 billion.
“Reuters” notes that this Chinese ownership could prove an obstacle to the IPO in the current climate of US-China relations, with attempts to introduce heightened scrutiny for Chinese companies listed on Wall Street.
Published by Globes, Israel business news – en.globes.co.il – on June 3, 2020
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