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Chinese Company Looking to Buy Caesars Interactive Entertainment
Friday, July 22, 2016 : CHINESE CONSORTIUM EYES CAESARS INTERACTIVE
Caesars Acquisition Company in advanced talks to sell online gambling division, say sources.
A Chinese consortium led by Giant Interactive Group Inc is currently negotiating the purchase of Caesars Interactive Entertainment, the online gambling subsidiary of Caesars Acquisition Co, according to a Reuters news agency report Friday.
Unnamed sources told Reuters that the parties are in advanced talks on an exclusive deal following an auction that also included U.S. toymaker Hasbro Inc and South Korean mobile game company Netmarble Games .
If successful, the deal could value CIE at over $4.2 billion, the sources claimed. The deal does not include the companys real money games or World Series of Poker.
None of the negotiating parties would comment on the report when approached.
Giant, which develops and operates multiplayer games, was taken private in 2014 for $3 billion, by a group of buyers that included company chairman Yuzhu Shi and private equity firm Baring Private Equity Asia Ltd, according to the Reuters report.
CIE generated revenues up 23 percent to $766 million in 2015, and its sale will help fund a new group being created through a merger of Caesars Acquisition and Caesars Entertainment, a move associated with the controversial and litigious $18 billion bankruptcy of the groups main operating unit, Caesars Entertainment Operating Co.
Gambling News :
MPNPT Malta Day 2 -
The final table is set in the €550 MPNPT Malta Main Event, with nine players still in contention for the trophy and €35,000 top prize. Out in front, by a large margin, is Italian online pro Alessandro Siena, with nearly double the chips of second place Cihan Eren.
MPN Poker Tour Malta Day 1A -
The MPN Poker Tour has returned to Casino Malta this week, with a €150,000 guaranteed €500 + €50 Main Event running alongside a full complement of side events, parties and activities.
€8 million mobile jackpot win on Mega Moolah -
Mega Moolah was hit on Tuesday 25 April 2017 by a Tipico player playing on their mobile device, just over a month after a €6.6 million jackpot was collected in March. The pay-out of €8,012,153.35 is the largest mobile jackpot win in history, superseding Microgaming’s pay-out in August 2016 of €7,968,311.26.
NHL Odds: Young Oilers Face Veteran Ducks in Round Two -
Game Two in Anaheim (10:30 PM ET on NBCSN) features the first and second ranked teams in the Pacific Division during the regular season, with only two points separating them. The Oilers edged the Ducks 3-2 in regular season games, outscoring them by a slim 14-12 margin. This series will be close, and Game Two will decide who has the edge heading back to Edmonton.
Americas Card Room Online Super Series Starts Now -
The OSS Cub3d is Americas Cardroom’s 3-part tournament series. It features the Mini Online Super Series (MOSS), the now-underway Online Super Series (OSS), and the upcoming Bigger Online Super Series (BOSS).
New Quick Seat feature at Ignition Poker -
New Quick Seat feature at Ignition Poker.In order to ensure our poker players’ user experience is even more seamless, we’ve introduced a new feature in our poker software called Quick Seat for both Ignition Poker.
Finnish people prefer the government to run the casinos -
Nordic countries have been, historically, the main markets for the online casino operators. The reasons for this are rather clear - these countries are very cold and people simply prefer to stay home and gamble than go outside to visit a casino.
NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 -
The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?
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