China’s Giant leads consortium to buy Playtika for $4.4 billion

A consortium of Chinese companies led by Giant has agreed to pay $4.4 billion for Playtika, the social casino game company in Herzliya, Israel, that was owned by Caesars Interactive Entertainment.

Caesars, which previously thought the virtual goods social casino game company was a good property to go with its real-money gambling properties, announced it would sell off the business in order to pay down debt.