Caesars may sell off interactive division

caesars

Caesars may sell off interactive division – May 17 2016

Caesars Entertainment is said to be considering selling off its online gaming arm after receiving offers of approximately $4 billion (€3.5 billion) for the business.

According to The Wall Street Journalnewspaper, groups interested in acquiring the Caesars Interactive Entertainment (CIE) division include financial companies as well as businesses in the gaming, media and entertainment industries.

The newspaper said that the deal would focus on CIE’s mobile gaming business, rather than the firm’s World Series of Poker (WSOP) brand.

Speaking to the newspaper, CIE chief executive Mitch Garber said: “We want to hear what people have to say, for sure.”

The report comes after Caesars this month revealed year-on-year revenue growth of 13.6% in the first quarter, with the firm citing its interactive business as one of the key driving forces behind this success.

Revenue for the CIE arm was up 29% to $227.8 million, while the interactive arm also boasts annual sales of almost $800 million.

 

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May 20, 2016: posted in News And Reviews No Comments

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