02 August 2016
A consortium including an affiliate of Shanghai Giant Network Technology Co., Ltd. has entered into a definitive agreement with Caesars Interactive Entertainment, Inc. to acquire CIE’s social and mobile games business, Playtika, in an all-cash deal for $4.4 billion. The transaction is subject to customary regulatory approvals and other closing conditions, and is expected to close in the third or fourth calendar quarter of 2016. Latham & Watkins represents Caesars Interactive Entertainment in the transaction with a corporate team led by partners Raymond Lin in New York, Michael Treska in Orange County, and Charles Ruck, based in New York and Orange County. Advice has also been provided on finance matters by partner Glen Collyer in Los Angeles and Howard Lam in Hong Kong; on employee benefits matters by partner Jim Barrall in Los Angeles and counsel Holly Bauer in San Diego; on tax matters by partner Samuel Weiner in Los Angeles; on intellectual property matters by counsel David Kuiper in Orange County; and on antitrust matters by partners Hanno Kaiser and Joshua Holian in San Francisco.