Social-games developer Playtika files for IPO

Business News

Playtika Holding Corp owned by a Chinese investor group, said on Friday it has confidentially submitted paperwork with the U.S. Securities and Exchange Commission for an initial public offering.

The size of Playtika’s offering and the price range have not yet been determined, said the company, which is known for its casino-themed games and operates apps for poker and solitaire.

Playtika’s move to go public comes at a time when a number of China-owned companies are looking to reconsider their listings on U.S. exchanges amid rising tensions between Washington and Beijing. Since the beginning of the year, the United States has increased its scrutiny of Chinese firms looking to list on the Nasdaq and the New York Stock Exchange.

In 2016, a group of Chinese investors including Giant Network Group Co Ltd and Yunfeng Capital, a private equity firm founded by Alibaba Group founder Jack Ma, acquired Playtika from Caesars Interactive Entertainment for $4.4 billion.