The deal with Caesars Interactive Entertainment is a sign that investors are willing to pay increasingly large sums for smartphone games.
By Paul Mozur
HONG KONG - Gambling may be illegal in mainland China, but that is not stopping Chinese tech investors from betting on casino-style mobile games.
In the most recent example in a growing trend of big deals for smartphone-based games, a consortium of Chinese investors led by the game company Shanghai Giant Network Technology said in a statement on Saturday that it would pay $4.4 billion to Caesars Interactive Entertainment for Playtika, its social and mobile games unit. Caesars Interactive is controlled by the owners of Caesars Palace and other casinos in Las Vegas and elsewhere.