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Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
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Twin River Worldwide Holdings has entered into a definitive agreement to acquire the Isle of Capri Casino in Kansas City and Lady Luck Casino in Vicksburg from Eldorado Resorts in a cash transaction for $230 million.
The purchase price represents an implied trailing twelve month proforma earnings before interest, taxes, depreciation and amortisation multiple of approximately 8.4× for the properties on a combined basis.
“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH said.
“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property which we believe will have a transformative impact and integrate well with local development efforts in the area,” George Papanier added.
The transaction is subject to receipt of required regulatory approvals and is expected to close in early 2020.
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: Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
Latest News
Aristocrat Leisure Completes Acquisition of Neo Group Ltd. (f/k/a NeoGames) for $29.50 per Share
Neo Group Ltd. (formerly known as NeoGames S.A.), announced today that Aristocrat Leisure Limited, an entertainment and content creation company delivering world-leading mobile and casino games, has completed the previously announced acquisition of all of the outstanding ordinary shares of Neo for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2 billion for Neo.
“We are excited to have successfully closed this transaction and joined forces with the Aristocrat team to further drive our success across iLottery, iGaming, and online sports betting,” said Moti Malul, Chief Executive Officer of Neo. “We firmly believe that this Transaction represents a great outcome for all of Neo’s shareholders, customers and employees. We are very grateful to all our stakeholders who have supported us since our inception. I would also like to thank all our employees for their commitment in making Neo the great company it is today.”
The transaction was announced on May 15, 2023.
The post Aristocrat Leisure Completes Acquisition of Neo Group Ltd. (f/k/a NeoGames) for $29.50 per Share appeared first on European Gaming Industry News.
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Wazdan pounces for bigger wins in new sequel Mighty Wild™: Panther Grand Gold Edition
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, is multiplying jackpots in the follow-up to its top-performing game Mighty Wild™: Panther Grand Gold Edition.
Venturing to the depths of the jungle where a black panther rules the reels on a 5×3 gameboard, the new edition provides even larger win potential. With the increased value of the Cash symbols and Cash Infinity™ symbols, there is also a more lucrative Grand Jackpot of 1500x the base bet.
Players can trigger either the Hold the Jackpot™ or Wild Rampage™ bonus rounds after landing at least six bonus symbols. Furthermore, Chance Level™ has been amplified to improve players’ chances of hitting the bonus round.
Bolstering the ferocious Wild Rampage™ bonus game, Mystery Symbols transformed into jackpots are multiplied by a value between 1x to 10x, providing the opportunity for even bigger rewards.
Wazdan’s Online gaining™ philosophy empowers players to tailor gameplay to their preferred style through customisable features like Volatility Levels™, Buy Feature, and Ultra Fast Mode which has delivered proven results for its partners.
Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “Mighty Wild™: Panther Grand Gold Edition features an exciting new lair through the inclusion of transforming mystery symbols, adding multiplier prizes to jackpots.
“Enhancing the gameplay of a pre-established hit allowed us to expand upon the engagement and entertainment on offer and we anticipate a great reception to this release.”
The post Wazdan pounces for bigger wins in new sequel Mighty Wild™: Panther Grand Gold Edition appeared first on European Gaming Industry News.
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PRAGMATIC PLAY DELIVERS BRAND NEW DEDICATED LIVE STUDIO FOR BETSSON
Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its partnership with Betsson Group to deliver an exclusive dedicated Live Casino studio featuring a mix of premium Blackjack and Roulette tables.
Incorporating all the fan-favourite features of Pragmatic Play’s Live Casino games, including multiplayer mode, chat functionality, and bet behind, the nine custom-built tables have been uniquely crafted to immerse players in the Betsson Group brands.
In total, eight new dedicated Blackjack tables and one new Roulette table will be broadcast from the custom-built live studio, every detail of which has been designed to Betsson’s precise requirements.
It is the latest dedicated studio to be delivered by Pragmatic Play, whose operator partners can also use Smart Studio to customise elements of the Live Casino titles to produce bespoke environments that showcase their brands.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Delivering a dedicated studio for Betsson marks another milestone for Pragmatic Play’s award-winning Live Casino offering. Betsson is a much-valued partner, and we are delighted to provide them with an immersive live environment that is fully dedicated to their brand.”
Chellyanne Cassar, Live Casino Manager at Betsson Group, added: “We are delighted to collaborate with Pragmatic Play to ensure delivery of a bespoke dedicated studio, where we can showcase our brand-new Blackjack and Roulette tables.
“The partnership highlights our shared commitment to delivering unparalleled gaming experiences, and we’re thrilled with the final results of the studio.”
The post PRAGMATIC PLAY DELIVERS BRAND NEW DEDICATED LIVE STUDIO FOR BETSSON appeared first on European Gaming Industry News.
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