China consortium to buy Caesars unit
New York
A CHINESE consortium that includes game developer Shanghai Giant Network Technology Co Ltd and e-commerce company Alibaba Group Holding Ltd founder Jack Ma has agreed to acquire Caesars Interactive Entertainment Inc's online games unit for US$4.4 billion in cash, the companies said.
Caesars Interactive Entertainment is owned by Caesars Acquisition Co (CAC) and Caesars Entertainment Corp. The sale will be a boon to the two affiliated companies, which are looking for cash as they embark on a complex merger.
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