Organized gambling is illegal in China with the exception of licensed casinos in Macau, and while rules aren’t clear for online games, authorities have regularly raided operators. The deal gives the Chinese buyers a foothold in a fast-growing segment of the gaming industry, as users turn to mobile applications over the PC- and console-based systems. Playtika will remain independently run from its headquarters in Herliya, Israel, they said. Chairman Jack Ma, China Oceanwide Holdings Group Co., China Minsheng Trust Co., and Hony Capital Fund, the purchasers said Sunday in a statement. The consortium includes Yunfeng Capital, the private equity company founded by Alibaba Group Holding Ltd. for $4.4 billion in cash, even as gambling remains illegal in the Asian country. agreed to buy Caesars Entertainment Corp.’s online casino-style games unit Playtika Ltd.

Investors led by Chinese online games developer Shanghai Giant Network Technology Co. Chinese Investors Buy Caesars’ Games Unit for $4.4 Billion

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