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Report: Caesars Acquisition in talks for potential $4.2B sale of online gaming unit

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Report: Caesars Acquisition in talks for potential $4.2B sale of online gaming unit

is inexclusive talks with a Chinese consortium for the sale of the online gamesbusiness of Caesars Interactive Entertainment Inc., Reuters reported, citingpeople familiar with the matter.

Thesale of the casino-themed online games unit, under since May, will help fundthe new group that is to be created through the of CaesarsAcquisition and CaesarsEntertainment Corp., the report said.

Theunit could be valued at more than $4.2 billion if the deal is successful, thesources told the news agency. The consortium, which includes Giant InteractiveGroup Inc., has been granted a short exclusivity period after an auction thatalso included U.S.-based toymaker Hasbro Inc. and South Korea's , the reportsaid, citing the unnamed sources.

Thereport noted that the gaming unit had total revenue of $766 million in 2015after a 23% annual increase.