The ‘cannibalisation’ of land-based casino resorts by online portals has been in the headlines recently and fits into broader debates on regulations and how they impact the channelisation of regulated markets, a concern impacting all industry stakeholders… The recent online-offline casino cannibalisation debate that took place (albeit by proxy) between Deutsche Bank and Eilers & Krejcik (EKG) in the US …
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When betting meets media: How to converge sectors & retain customers
A number have tried, but only a select few have succeeded. The convergence of sports betting and media has proven a tricky discipline, with LiveScore Group and Sky Bet two names consistently cited as examples of success. Representing their respective companies and offering an intersection of viewpoints on betting and media, several high-profile names in sports business attended the Unofficial …
Read More »Sisal files for Milan Borsa IPO seven years after first attempt
Sisal SPA, the operating company of Italy’s SuperEnalotto lottery and Matchpoint betting shops, has filed for an Initial Public Offering (IPO) to list its business on the Milan Borsa Exchange. Reuters reports that the CVC Capital owned gambling group has agreed to sell its shares to an unnamed private equity firm. Although most of the firm’s revenues come from its …
Read More »888 wins transformative buyout of William Hill heritage assets
888 Holdings is reportedly the winning party of the hotly contested auction for William Hill’s combined UK and European business assets – put up for sale by Caesars Entertainment. As reported by The Times, Caesars has accepted a +£2 billion buyout offer put forward by 888, out-bidding US private equity fund Apollo Global as the auction’s last remaining suitor. Coordinated …
Read More »William Hill matches finance sector screening capacity with Accuity
William Hill Plc has strengthened all components related to compliance and customer KYC operations by forming a comprehensive agreement with digital control risk solutions provider Accuity. Facing changing compliance and regulatory demands across all core markets, the FTSE betting group has appointed Accuity to ‘transform its customer screening approach with AI techniques’. The partnership sees William Hill install Accuity’s proprietary …
Read More »The Stars Group triggers new public share offering to close Sky Bet acquisition
Issuing a corporate update, Toronto TSX-listed The Stars Group Inc, has today disclosed its supplementary prospectus related to its proposed new public share offering. Updating the market, the Stars Group’s treasury will move to implement a 15 million common share placement, which will be additionally supported by secondary 6 million share disposal undertaken by existing corporate shareholders. Stars Group governance …
Read More »Cash strapped Deutsche Bank eyes $440 million sale of Red Rock Resorts
The Financial Times has reported that embattled European bank Deutsche Bank is preparing to cash-in on its 17% stake in Nevada casino operator Red Rock Resorts (formerly known as Station Casinos). Deutsche governance are reported to be seeking a $440 million sale price for its stake in Red Rock a company it invested in 2011 as the operator looked to …
Read More »UK FCA approves Optimal Payments takeover of Skrill
Following a review of its $1.2 billion (£815 million) takeover of online payment provider Skrill Group, the UK Financial Conduct Authority (FCA) has approved Optimal Payments PLC (LSE) acquisition bid. Informing the market Optimal Payments governance stated that it would proceed with its full integration of Skrill Group operations, with a view to complete its takeover by 10 August. Issuing a …
Read More »Deutsche Bank Las Vegas casino investment challenged over LIBOR charges
Deutsche Bank AB’s 25% stake in Station Casinos a Las Vegas gambling operator, has been asked to be reviewed by Nevada’s gambling authorities, following the bank’s involvement in the London Interbank Offered Rate (LIBOR) scandal. The review has been put forward by Las Vegas labour unions’ Culinary Workers Union Local 226 and Bartenders Union Local 165, who have questioned the …
Read More »Amaya Completes Sale of Cadillac Jack to AGS for $476 million
Amaya Inc today confirmed the completion of its $476 million sale of Cadillac Jack, Inc to AGS LLC an affiliate of funds managed by Apollo Global Management, LLC Pursuant to the previously announced Stock Purchase Agreement, AGS has purchased all of the shares of Amaya Americas for an aggregate purchase price of approximately $476 million1, comprising cash consideration of approximately $461 million …
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