"Online gaming, eventually, should be massive after the various regulatory hurdles are worked out even if it takes a significant number of years. "Despite the legal issues in China, these Chinese investors are more comfortable playing the long game," Union Gaming Group LLC analyst Grant Govertsen said. Raine Group LLC served as Caesars Interactive's financial adviser and Latham & Watkins LLP served as legal adviser. "Police in Zhejiang province arrested 36 suspects involved in a lottery-based online gambling operator worth more than 100 million yuan ($15 million), Xinhua News Agency reported July 1. 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.

Source: Economic Times July 31, 2016 05:37 UTC