Mobile game developer Playstudios Inc. agreed to go public through a merger with a special-purpose acquisition company, a deal led by former casino executives now in the growing social-gaming industry.
Playstudios is merging with Acies Acquisition Corp. led by Chairman Jim Murren, former MGM Resorts International chief executive, in a deal that values the gaming developer at $1.1 billion, the companies said Monday. Playstudios has developed mobile Las Vegas-style games like slots and blackjack that don’t offer real-money gambling. The social casino games offer customers real-world rewards in entertainment, shopping and travel through a loyalty program. The company was founded in 2011 by former Wynn Resorts Ltd. executive Andrew Pascal, who is expected to continue leading the combined company.Several investors including MGM Resorts, BlackRock Inc.
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