Jack Ma-backed Chinese group snaps up Caesar’s Playtika gaming business

A group of Chinese investors backed by billionaire Jack Ma has agreed to buy casino-style gamesmaker Playtika from Caesars Interactive Entertainment (CIE) for $4.4 billion.

The consortium, led by Shanghai Giant Network Technology, includes Ma’s private equity firm Yunfeng Capital as well as China Oceanwide Holdings Group Co., China Minsheng Trust Co., and Hony Capital Fund, the buyers said in a statement.

The announcement came a week after Caesars Acquisition Co. started “exclusive talks” with the Chinese consortium following an auction that also included U.S. toymaker Hasbro Inc. and South Korean mobile game company Netmarble Games.”

The acquisition is expected to close in the third or fourth quarter of 2016.

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