CHINESE CONGLOMERATE BUYS CAESARS GAMES
A Chinese consortium made up of several high profile companies such as the Alibaba Group had made a deal with Caesar Interactive Entertainment to acquire its online gaming services for $4.4 billion. The deal comes as a relief to both parties; the cash comes in handy as they try to navigate this complex merger. The move is not as surprising, considering that many Chinese companies are looking to go global. Much like Tencent’s purchase of a stake in ‘Clash of Clans’ in June, CAC is attempting to move beyond the Chinese market.