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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.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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