An Israeli gaming company has been sold for more than £3 billion to a Chinese consortium.

Playtika, whose mobile casino games including World Series of Poker and Slotomania have attracted tens of millions of downloads, secured the third-largest amount ever for an Israeli business.

The all-cash transaction will allow the company - which has 1,300 employees in offices across five continents - to continue running operations at its Herzliya headquarters.

The consortium includes a private equity firm created by Jack Ma, the second richest person in China, who founded online marketplace Alibaba.

Robert Antokol, Playtika’s chief executive and co-founder, said that the size of the deal was “a testament to Playtika's unique culture and the innovative spirit of our employees”.

He added: “We are incredibly excited by the commercial opportunities the consortium will make available to us, particularly in its ability to provide us access to large and rapidly growing emerging markets.

“This is an amazing milestone for all Playtikans and we truly value how unique this opportunity is to continue executing our vision with such a strong partner.”

Shi Yuzhu, the chairman of Giant Investment, another member of the consortium, said that he had been convinced of Playtika’s value by its “exceptional” growth since it was founded in 2010.

He also complimented the company’s “outstanding team, excellent corporate culture, cutting-edge big data analytics, and its unique ability to transform and grow games.”