Caesars Entertainment is supposed to sell its interactive games unit. The US-based company is currently negotiating with a corporation from China concerning the acquisition of the interactive games branch of the company.
It was reported that the company had decided to sell a branch of its business to the Chinese giant. The auction included several participants, including U.S. toymaker Hasbro Inc and Netmarble Games from South Korea.
The decision to sell its unit was made despite the fact that online games of Caesars Entertainment were able to bring a good profit. The revenues of the interactive games unit became higher this year by 23% compared to the previous year. The total value of the branch reaches 4.2 billion dollars.
It is interesting to note that the interactive games unit purchased Playtika, which is a multiplatform social games developer, five years ago.
Netmarble Games, which is a fast-growing South Korea-based corporation that is engaged in developing mobile software, intended to acquire Playtika from Caesars Entertainment in June. According to the Korean media, the deal was supposed to cost from $3.4 billion to $4.3 billion. The agreement is still being discussed.
Caesars Entertainment Corporation is currently trying to restructure Caesars Entertainment Operating Co (CEOC). However, investors are not pleased with the results. They believe that the company should spend more on this process.
We want to remind our readers that Caesars Entertainment Corporation is headquartered in Paradise, Nevada. It is an operator of over 50 casinos and resorts. The company has the fourth place in the world among gambling organizations. The total revenue of Caesars Entertainment Corporation exceeds 8 billion dollars per year.