Alibaba founder Jack Ma has bought the online gaming division of Caesars Interactive for 4.4 billion US dollars. Ma works together with a consortium of Chinese investors according to Reuters.
Caesars has over 30,000 employees and wolrdwide fifty offices, but asked a bankruptcy protection in the beginning of 2015. The company wants to lower its billion dollar debt from 18.4 billion to 8.6 billion US dollars.
The online gaming division is called Playtika and produces different online games as Bingo Blitz and Slotomania. Part of the consortium Shanghai Giant Network Technology, Giant is one of the largest gaming companies in China, the company has nearly 50 million user every month. Gaint has a estimated worth of 12 billion US Dollars.