Playtika is asking Tencent for $1 billion to $1.5 billion to acquire SuperPlay, the studio behind Disney Solitaire, Dice Dreams, and Domino Dreams, according to Israeli business outlet Calcalist Tech.

Deal mechanics

The proposed divestiture stems from the structure of Playtika's 2024 acquisition of SuperPlay. Under that deal, Playtika paid $700 million upfront and committed to an additional $1.25 billion in earn-out payments tied to performance benchmarks across three years. SuperPlay has run materially ahead of schedule on those targets.

Why sell a studio that is outperforming?

Calcalist attributes the decision to contingent-payment mechanics rather than any weakness in the acquired portfolio. The faster SuperPlay hits its milestones, the sooner the earn-out becomes payable. Calcalist frames the studio's success as a "financial burden."

Parallel pressure has come from Playtika's wider balance sheet. In April, Playtika disclosed a portfolio-wide audit and a review of "strategic alternatives." That announcement drove earlier speculation that Playtika itself might be shopped. Calcalist now reports Playtika narrowed the planned divestiture scope to SuperPlay rather than the Nasdaq-listed parent.

What does Tencent get?

Calcalist does not break down which milestones SuperPlay has cleared, nor does it supply current revenue or profit figures. The reported $1-1.5 billion range sits below the original $1.25 billion earn-out, implying either a negotiated discount, deferred consideration, or both parties pricing in accelerated milestone timing. A definitive price, structure, and closing date remain undisclosed.

Why now, structurally?

For Playtika, the deal logic runs against conventional M&A intuition: the studio is producing more value, not less. But contingent consideration clauses operate on cumulative performance, and earnings above target compress the payment window rather than extend it. That structural mismatch, layered onto Playtika's reported debt accumulation, has flipped the case for holding the asset.

For Tencent, the calculus differs. Acquiring SuperPlay would shift three flagship mobile-casual titles and the earn-out obligation from Playtika's books to Tencent's, where the studio's prior trajectory would continue to drive any further payouts.

What did the companies say?

Neither Playtika, nor Tencent, nor SuperPlay responded to Calcalist's queries. The Israeli outlet's account remains the sole public reference point, with no named on-record sources.

What to watch

The next concrete signal will be a formal disclosure from Playtika, which trades on Nasdaq and must file material updates if talks advance toward a binding agreement. Track any Playtika SEC filing referencing "strategic alternatives," the terms under which the earn-out would transfer to Tencent, and any separate statement from SuperPlay leadership. A definitive price, deal structure, and closing date remain undisclosed.