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A consortium of Chinese companies led by Giant has agreed to pay $4.4 billion for Playtika, the social casino game company in Herzliya, Israel, that was owned by Caesars Interactive Entertainment.
Caesars, which previously thought the virtual goods social casino game company was a good property to go with its real-money gambling properties, announced it would sell off the business in order to pay down debt.
South Koreas Netmarble was rumored to have bid $4.3 billion for, but other bidders besides Netmarble emerged.
The consortium includes Giant, an affiliate of Shanghai Giant Netw…
Read the full article at: http://venturebeat.com/2016/07/30/chinas-giant-leads-consortium-to-buy-playtika-for-4-4-billion/