Although there are few applications of game theory in the water governance literature, in this paper the author applies a game-theoretic framework to public-private partnerships in the water industry, with “water industry” defined broadly to include fresh water supply, wastewater treatment, and sanitation and sewarage services. In summary, the paper (1) provides a general overview of the most common forms of contractual arrangements or public-private partnerships in the water sector, (2) reviews two recent examples of public-private partnerships in the water sector -- one in the municipality of Havana, Cuba, the other in the Jiangsu province of China, and (3) presents a generalized partnership-game model and explains the possible application of this game-theoretic model to public-private partnerships in the water sector.