Playtika reportedly in talks to sell SuperPlay to Tencent for up to $1.5bn

Playtika is exploring the sale of its SuperPlay studio to Chinese tech giant Tencent in a deal valued between $1bn and $1.5bn, according to reports. The potential transaction follows the formation of a special board committee in April tasked with conducting a strategic review aimed at maximising shareholder value.

The move comes less than two years after Playtika acquired SuperPlay for $690m in Q4 2024 under an earn-out structure that tied future payments to performance. SuperPlay far exceeded expectations, generating $573m in revenue in FY2025, 67% above its baseline target. That outperformance drove Playtika's contingent liability to the founders to $734m and eventually to $829m after a strong Q1 2026, steadily increasing the financial burden on the parent company.

Playtika itself faces significant debt pressure, with $2.3bn in maturities due in 2028 and 2029. At the same time, its market capitalisation has fallen to $1.44bn, roughly 80% below its all-time peak. Selling one of its most recognised brands could provide a much-needed infusion of capital to address those obligations.

The strategic review committee, announced in April, was formed to evaluate alternatives to ‘unlock and enhance’ shareholder value. A sale of SuperPlay would mark a reversal of Playtika’s earlier acquisition strategy but could prove necessary given the company’s weakened financial position and the escalating cost of its earn-out commitments.