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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 :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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