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Macau-based companies emerge frontrunners for all-cash takeover of Caesars

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1-9 Macau-based companies emerge frontrunners for all-cash takeover of CaesarsReading Time: 2 minutes

 

A merger or sale looks imminent for American casino owner and operator Caesars Entertainment Corp, according to investor Carl Icahn, who is also a stakeholder of the company. If that happens, only three casino companies based in Macau will be able to manage an all-cash take-over, writes brokerage Sanford C. Bernstein Ltd.

In a recent note, Sanford C. Bernstein Ltd suggests that Wynn Resorts Ltd, MGM Resorts International, and Las Vegas Sands Corp are the only firms that have a realistic chance of all-cash takeover.

These firms have subsidiaries based in Macau: Wynn Macau Ltd, MGM China Holdings Ltd, and Sands China Ltd, respectively.

Sanford Bernstein analysts Vitaly Umansky, Kelsey Zhu, and Eunice Lee wrote that smaller U.S. based suitors, such as Eldorado Resorts Inc. and Penn National Gaming Inc., had no liquidity and lots of debt, and could do only a reverse merger for stock. “There could be cash funding created via asset sales (but a large portion of the Caesars Entertainment asset base has already been sold),” the note said.

Each of the three potential cash suitors for Caesars Entertainment – as defined by Sanford Bernstein – are looking to expand into Japan, where the first legal casinos will be opened in the next few years. On that basis, Sanford Bernstein said it did not think any of the trio were likely to go after Caesars Entertainment.

“With the Japan opportunity coming up (where we are talking about US$8-billion to US$10-billion-sized development projects) – we do not believe Las Vegas Sands, MGM Resorts or Wynn Resorts (who are also the more likely candidate to be able to be awarded a licence in Japan) would be interested in picking up Caesars (and not just for reasons tied to Japan) and gaining more exposure to the U.S. regional market and Las Vegas,” the report said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Macau-based companies emerge frontrunners for all-cash takeover of Caesars

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gaming and Leisure Properties, Inc. Declares Third Quarter 2019 Cash Dividend of $0.68 per Share

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9-13 Gaming and Leisure Properties, Inc. Declares Third Quarter 2019 Cash Dividend of $0.68 per ShareReading Time: 1 minute

Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”), announced today that at its meeting yesterday, the Company’s Board of Directors declared the third quarter 2019 cash dividend of $0.68 per share of its common stock.  The dividend is payable on September 20, 2019 to shareholders of record on September 6, 2019.

While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming and Leisure Properties, Inc. Declares Third Quarter 2019 Cash Dividend of {$permalink}.68 per Share

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PR – NSoft at Entertainment Arena Expo 2019

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8-14 PR – NSoft at Entertainment Arena Expo 2019Reading Time: 1 minute

 

NSoft is going to exhibit at the Entertainment Arena Expo and enable operators to discover the rich one-to-one customized experience of NSoft’s products – Sportsbook, Virtual Sports Betting, Draw Based Games and NSoft Vision.

 

Entertainment Arena Expo (EAE) is the biggest exhibition for the casino and betting industry in Central and Eastern Europe. The event will take place from September 3rd-5th, at Romexpo Exhibition Center Bucharest.

 

Entertainment Arena Expo 2019 is the spot where exhibitors and visitors will extend their businesses and materialize their growth plans. NSoft, taking part in this premium event will present its complete solutions aiming to meet the customer’s uppermost requests.

 

In order to obtain in-depth and comprehensive information about the latest NSoft’s innovations and products, feel free to book a meeting with our representatives at sales@nsoft.com, or simply meet them at Stand 523 during the event, they will be happy to share NSoft’s know-how with you.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: PR – NSoft at Entertainment Arena Expo 2019

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Guardia di Finanza Accuses SKS365 for Tax Evasion

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1-15 Guardia di Finanza Accuses SKS365 for Tax EvasionReading Time: 1 minute

Guardia di Finanza, the financial police in Italy, has accused SKS365, the Malta-based gambling operator, for tax evasion.

The fiscal probe conducted by the Guardia di Finanza law enforcement agency in the coastal city of Reggio Calabria concluded that SKS365 had failed to declare about 4 billion euros in taxable income between 2015 and 2016. Investigators said the company made the money by “carrying out gambling activities illegally in Italy.”

Ramphastos Investments acquired SKS365 for 158 million euros in August 2016 and November 2017. During the police sweep in 2018, the prosecutor’s office clarified that “no claims of responsibility” emerged against the company’s new owners.

SKS365 told that its current management has no links to the company’s previous activities and that it is now suing the company’s previous owners and seeking compensation.

Colonel Cesare Antuofermo, a Guardia di Finanza officer involved in the case, told that the legal entity liable for the tax offenses remains the same, even if the corporate structure — and its shareholders — have changed.

Antuofermo added that the latest allegations are “the largest ever tax evasion claim issued against an online gambling company in Italy.”

SKS365 will now have 60 days to make its case to the Italian Revenue Agency, which has taken over the tax evasion case from the Guardia di Finanza. The tax authority will then issue a notice that formally certifies the amount of taxes owed by SKS365 and the payment deadline.

In a statement, SKS365 told OCCRP it “reserves the right to take legal action aimed at protecting its interests and those of its investors. The company does not provide comments or specific information on its legal actions.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Guardia di Finanza Accuses SKS365 for Tax Evasion

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