A consortium of 11 Chinese investors has agreed to buy Playtika, an online casino-style game producer based in Israel, for $4.4bn.
Editor’s Remarks: One of the 11 investors is private equity company Yunfeng Capital, established by Alibaba Chairman Jack Ma. Online gambling is illegal in China, except for specially licensed casinos in Macau. Playtika saw $725m in revenues last year and $456m in the first half of 2016. This is one of several Israel-oriented business moves by Chinese investors lately. Last year, Shanghai Bright Food bought Israel’s largest food producer, Tnuva, for over $2bn, while China National Chemical took over 40% in crop-protection producer Adama Agricultural for $1.4bn last month. Considering this trend, is Israel the new destination for the ever-growing appetite of the wealth-seeking Chinese big scale investors?
What to watch: Israeli Tech Companies, Online Casino Market, Israeli Food Companies