A Chinese consortium that includes Giant Interactive Group Inc is reportedly in talks for the acquisition of Caesars Entertainment’s online gaming unit, according to sources familiar with the matter.
The consortium, which includes Giant - an online games developer - emerged as a leading contender for the business after an auction process. Reuters earlier reported that the consortium was in advanced talks to acquire the unit.
The auction also included U.S. toymaker Hasbro Inc and South Korean mobile game company Netmarble Games, said sources, with the Chinese consortium being granted a short exclusivity period.
Caesars Interactive, the online gaming unit in question, is known as one of the largest developers of online casino-style games in the market, with titles such as Slotomania and Bingo Blitz. The unit also owns the World Series of Poker (WSOP).
According to sources, the deal hinges on negotiations being concluded successfully, while the online gaming unit could be valued at more than $4.2 billion.
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