CAESARS INTERACTIVE ENTERTAINMENT ACQUIRES BINGO BLITZ BUSINESS AND STUDIO
TRANSACTION ADDS BINGO TO CIE’S SOCIAL & MOBILE PORTFOLIO
LAS VEGAS (December 27, 2012) – Caesars Interactive Entertainment, Inc. (CIE) today announced the acquisition of the Bingo Blitz social and mobile business and the Santa Monica development studio of privately-held Buffalo Studios, LLC, a social and mobile games developer.
Buffalo Studios is the creator of Bingo Blitz, which is among the leading bingo games on Facebook, iOS, Android and the Amazon marketplace. The company also offers Bingo Rush, a single player, race against the clock bingo variant. Both games are free-to-play.
This acquisition marks CIE’s second in the social games space, following last year’s procurement of Playtika. CIE will retain 74 full-time employees at Buffalo Studios’ Santa Monica studio and begin to integrate Bingo Blitz and Bingo Rush into an affiliate of its Playtika subsidiary.
“The Bingo Blitz business represents a unique opportunity for CIE to add to our leading product portfolio of social and mobile game assets and to grow our market share across all interactive platforms,” said CIE CEO Mitch Garber. “The team at Buffalo Studios’ Santa Monica office includes deeply talented product, technology and creative personnel and we anticipate that, together with CIE, it can bolster this category and develop new and exciting game offerings.”
Launched in 2010, Bingo Blitz was one of the first social bingo applications and is now one of Facebook’s leading social bingo games, featuring over 710,000 daily users and 2,700,000 monthly active users according to the latest figures from AppData.
Latham & Watkins LLP served as legal advisor to CIE.
The Raine Group and Jackson Walker L.L.P. served as financial and legal advisor, respectively, to Buffalo Studios.
ABOUT CAESARS INTERACTIVE ENTERTAINMENT, INC. (CIE)
Caesars Interactive Entertainment is the largest online, mobile and social gaming company focused on casino entertainment (a subsidiary of Caesars Entertainment, the world’s largest gaming company). CIE owns the World Series of Poker, Playtika, a social games developer of popular titles including Slotomania and Caesars Casino, and also licenses its brands in legal real money gaming jurisdictions including the United Kingdom, France and Italy. CIE is actively pursuing further expansion and acquisitions to build upon its capabilities and product portfolio.
This press release includes “forward-looking statements.” You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as “may,” “will,” “project,” “might,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” “continue,” “pursue,” or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, CIE’s ability to bolster its ability to grow its product portfolio across all interactive platforms and develop new and exciting game offerings. These forward-looking statements are based on current expectations and projections about future events.
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