Actionable news
All posts from Actionable news
Actionable news in CZR: Caesars Entertainment Corporation,

Chinese Group to Buy Caesars’ Games Unit for $4.4 Billion

  • Giant, Jack Ma’s fund in deal to buy casino-style gamesmaker
  • Caesars unit Playtika to remain independently run in Israel

Chinese investors led by Shanghai Giant Network Technology Co. agreed to buy Caesars Entertainment Corp.’s online casino-style games unit Playtika Ltd. for $4.4 billion, in a bet on the rising popularity of mobile play.

The consortium includes Yunfeng Capital, the private equity company founded by Alibaba Group Holding Ltd. Chairman Jack Ma, China Oceanwide Holdings Group Co., China Minsheng Trust Co., and Hony Capital Fund, the purchasers said Sunday in a statement. Playtika will remain independently run from its headquarters in Herzliya, Israel, they said.

The all-cash deal gives the Chinese...