Fenwick & West LLP represented Dragonplay Ltd., one of the leading online social casino company headquartered in Israel, with top-grossing applications for Android, as well as a significant presence on Facebook and Apple iOS, in its recently announced acquisition by Bally Technologies, Inc., a leader in gaming machines, table game products, casino-management systems, interactive applications, and networked and server-based systems for the global gaming industry. Bally Technologies will pay $51 million in cash and approximately $49 million in additional earn-out consideration and employee retention payments over the next 18 months subject to Dragonplay meeting certain financial performance targets. The transaction is expected to close in July of 2014.
The acquisition of Dragonplay will help position Bally at the forefront of social casino gaming by leveraging their world-class content, including proprietary table games and award-winning video slots, on Dragonplay's increasingly popular social casino.
The Fenwick transaction team included corporate attorneys Mark Stevens, David Michaels, Katherine Duncan and Yael Perl; executive compensation and employee benefits attorneys Scott Spector and Adriana Sherwood; technology transactions attorney Stephen Gillespie and tax attorney Idan Netser.