Latest News
Macau-based companies emerge frontrunners for all-cash takeover of Caesars
Reading 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
Latest News
Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
The post Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity appeared first on European Gaming Industry News.
Latest News
William Hill Announced as Official Betting Partner of Qipco Guineas Festival
Leading bookmaker becomes official betting partner of first UK Classic meeting of 2024
William Hill has been announced as the new official betting partner of the Qipco Guineas Festival, the first UK Classic meeting of the season.
It’s the latest addition to William Hill’s spring racing roster, following sponsorship of The Lincoln Handicap at Doncaster, the Punchestown Champion Chase and its status as official betting partner of the Randox Grand National Festival.
The 2,000 and 1,000 Guineas headline the three-day meeting and the leading bookmaker will sponsor 15 races across the weekend with the Jockey Club Stakes, Palace House and Dahlia Stakes among the races now featuring the William Hill title.
Aidan O’Brien’s unbeaten superstar City of Troy is still all the rage for the 2,000 Guineas at 4/6 whereas Karl Burke’s Fallen Angel heads a competitive looking 1,000 Guineas market at 7/2.
“We’re delighted to become the official betting partner of the Qipco Guineas Festival, strengthening our relationship with The Jockey Club on the back of a fantastic Grand National Festival,” a spokesperson for William Hill, Lee Phelps, said. “It’s brilliant for William Hill to be associated directly with such a prestigious event at Newmarket, the home of the thoroughbred, for this season’s first two Classics. The company has a close connection with the history of the 2,000 Guineas as William Hill himself bred the 1949 winner, Nimbus, who then went on to win the Derby.
“We’re excited to be involved at racing’s key meetings and see the Qipco Guineas Festival as the perfect sponsorship as the British flat season kicks into gear.”
Newmarket – 2,000 Guineas: May 4, 2024
City Of Troy | 4/6 |
Rosallion | 4/1 |
Notable Speech | 12/1 |
Henry Longfellow | 12/1 |
Night Raider | 16/1 |
Alyanaabi | 16/1 |
Ancient Wisdom | 16/1 |
Task Force | 16/1 |
Ghostwriter | 16/1 |
Iberian | 20/1 |
BAR | 25/1 |
Newmarket – 1,000 Guineas: May 5, 2024
Fallen Angel | 7/2 |
Ylang Ylang | 4/1 |
Dance Sequence | 5/1 |
Ramatuelle | 10/1 |
See The Fire | 12/1 |
Content | 12/1 |
One Look | 14/1 |
Pretty Crystal | 14/1 |
Buttons | 20/1 |
Purple Lily | 20/1 |
Porta Fortuna | 20/1 |
Star Style | 20/1 |
BAR | 25/1 |
The post William Hill Announced as Official Betting Partner of Qipco Guineas Festival appeared first on European Gaming Industry News.
Latest News
Midjiwan Supports Reforestation Efforts With New Elyrion Tribe Skin In The Battle Of Polytopia
Midjiwan, the award-winning independent studio behind The Battle of Polytopia, is celebrating Elyrion (∑∫ỹriȱŋ) Tribe Week with a brand-new Midnight (₼idŋighţ) skin and donations to support reforestation.
Tapping into the Elyrion Tribe’s nature magic abilities, every purchase of an Elyrion item in the game will plant one real-world tree from April 22-28 2024. Midjiwan has teamed up with The Canopy Project, an organisation that works with global partners to reforest areas in urgent need of rehabilitation, combining The Battle Of Polytopia’s themes with a desire to make real change in the world. Previous years of Elyrion Tribe Week have resulted in the planting of over 12,000 trees.
The Elyrion Tribe is a mysterious group of elves, dedicated to defending their woodland home with their unique magic and connection with nature. Players using the Elyrion tribe have the ability to enchant animals into Polytaurs and summon powerful Fire Dragons.
Christian Lövstedt, General Manager at Midjiwan, commented:
“This is a hugely exciting partnership, allowing players to support the planet and contribute to reforestation whilst also accessing brilliant new content to use in The Battle Of Polytopia.”
Alongside donating to The Canopy Project, The Battle Of Polytopia also boasts a brand-new skin for the Elyrion Tribe! The Midnight skin allows players to create graves, build crypts, and summon demons in dark forests, all in service of the mysterious Shard of D’Naeh.
The Midnight skin re-skins the entire Elyrion Tribe as the Midnight Cult. Everything the Elyrion Tribe is all about – nature, enchantment, and sanctuary – is turned on its head, corrupted into a dark, twisted dystopia of itself.
Midjiwan has already invested €250,000 in solar power projects in rural areas around Africa, and other charitable projects. The studio continues to seek opportunities to combine its in-game creativity with real-world benefits. The Battle of Polytopia is available on Nintendo Switch, the App Store, Google Play, PC, and Tesla cars.
The post Midjiwan Supports Reforestation Efforts With New Elyrion Tribe Skin In The Battle Of Polytopia appeared first on European Gaming Industry News.
-
Latest News2 months ago
Fairplay Exchange signs as new sponsor of Stephen Hendry’s Cue Tips
-
Latest News2 months ago
2 PEOPLE CAUGHT OPERATING ILLEGAL ONLINE GAMING SITE
-
Latest News3 months ago
Playtech Extends Partnership with BoyleSports Until 2028
-
Latest News3 months ago
Wazdan partners with 711.nl for significant expansion in the Netherlands
-
Latest News3 months ago
OneCasino Partners with Delasport to Also Conquer Sports Betting in the Netherlands
-
Latest News2 months ago
StarGames Named Premium Partner of the International ADAC Truck Grand Prix 2024
-
Latest News2 months ago
Casino Crypto Giant Bitline Partners with Ciphertrace for Enhanced Compliance in Digital Asset Transactions
-
Latest News2 months ago
European Gaming Q1 2024 Meetup: Exploring Innovation, Marketing, and the iGaming Industry Hubs
You must be logged in to post a comment Login