Playtika, the mobile social casino games developer owned by Caesars Interactive Entertainment (CIE), will be sold to a consortium of Chinese investors for the $4.4 billion cash deal that is all-in. CIE’s other assets, including the global World Series of Poker (WSOP) and its own real-money online gambling operations in Nevada and New Jersey, are not part of the deal.
Caesars Interactive CEO Mitch Garber took A israeli that is small start-up Playtika in 2011 whenever it had just 10 workers into the fold. This week, CIE agreed to sell the social gaming developer for $4.4 billion to the Chinese.
The consortium is led by Giant Interactive, owner of ZT Online, very popular MMO (massively multiplayer online) role-playing games in Asia. Also in the mix is Yunfeng Capital, an equity that is private founded by Chinese ecommerce giant the Alibaba Group.
Caesars has held it’s place in speaks in regards to the sale of its social gaming operations since at least May, with insiders reporting it had received multiple offers. The casino giant is in the procedure for putting its main operating unit, Caesars Entertainment Operating Co (CEOC), through Chapter 11 bankruptcy procedures so as to reorganize around $18 billion of its industry-high debt.
Playtika’s Extraordinary Growth
As part of the process, CIE’s parent, Caesars Acquisition Company (CAC), will merge with Caesars Entertainment (CEC), in order to create cash and equity that is new which to placate CEOC’s aggrieved creditors. A $4.4 billion cash injection, therefore, is likely to grease the skids on the group’s reorganization plans.
CIE, and more specifically Playtika, has been one of the few success stories of a post-recession Caesars. CIE acquired the company in 2011 for $90 million when it was a small israeli start-up with just 10 workers. CIE CEO Mitch Garber, whom led the takeover, declared at the time that it ended up being Caesars’ long-term ambition to become ‘the number one in casino and social games on Facebook.’
Playtika subsequently expanded into the market-leading social casino games designer, with more than 20 million active monthly users and 250 million software installs, employing over 1,300 individuals at 12 offices around the world. Last year, Playtika accounted for some 70 per cent of all CIE’s revenues.
An incredible number of Users
‘It has been an experience that is particularly rewarding Playtika from a 10-person start-up, when CIE acquired them in 2011, right into a international leader,’ stated Garber associated with sale. ‘Playtika today is a highly lucrative growth company with additional than 1,300 workers, multiple top grossing titles and millions of daily users.
‘Robert [Antokol, Playtika CEO and co-founder] is a true visionary and business that is israeli who’s got created not just a great business, but also probably the most unique corporate culture i’ve observed in my career.’
‘Playtika’s growth has been exceptional, and highlights its outstanding team, exceptional culture that is corporate cutting-edge big information analytics, and its unique capacity to transform and grow games,’ added Giant’s founder and Chairman Shi Yuzhu. ‘ We are looking forward to Playtika continuing to excel and innovate.’
North Jersey Casino Expansion Ballot Referendum Lacking Support as November Vote Beckons
This November, the current opinion tide seems to favor maintaining gambling’s status quo although North Jersey casinos will be considered by Garden State voters.
In addition to deciding between Donald Trump and Hillary Clinton for president, New Jerseyans is up against a referendum on whether Atlantic City’s casino monopoly should end, with gambling being allowed to migrate north.
The Meadowlands Sports Complex is really a likely location for a North Jersey casino, should a gambling referendum pass in November. But support for the measure seems become lacking among voters. (Image: AP)
But regrettably for those who believe two land-based venues in northern counties will be useful to both the state and Atlantic City, there appears to be enthusiasm that is little the amendment. Based on a Fairleigh Dickinson University PublicMind poll release in mid-July, 58 percent of residents are against commercial casino-style gambling outside of Atlantic City.
Gambling in brand New Jersey is confined to Atlantic City since gambling enterprises were legalized there in 1976.
‘This suggests the supporters of this amendment will continue to experience a battle that is uphill voters that casinos beyond Atlantic City are a worthwhile investment in local economies,’ PublicMind Professor of Political Science Krista Jenkins said in statement. ‘Even among those people who have fallen some potato chips on a table or coins into a machine, a big part are opposed to expansion beyond Atlantic City.’
Challengers Express Concerns
Those who help casino expansion include numerous north county politicians and the state’s Governor Chris Christie (R). But proponents of statewide gambling are doing small to increase their odds of a successful november vote.
Meanwhile, opposition is intensifying.
A new company called Trenton’s Bad Bet went public week that is last. But unlike lots of the other groups fighting the North Jersey casinos, Bad Bet is headquartered in Newark, not Atlantic City.
The group says the referendum is ‘cryptic in details’ and claims the benefits being touted will never come to fruition.
‘We are concentrated on creating awareness with voters so they determine what a bad deal this is for taxpayers,’ Trenton’s Bad Bet Executive Director Bill Cortese said in a release. ‘Very little information is provided, a normal play by Trenton politicians once they want to move something through the trunk door.’
A search for an online site on the group that is anti-gaming no fresh fruit.
Christie and those in favor state bringing casino resorts north will create billions of bucks in new revenue and create thousands of jobs. The referendum would direct $200 million annually to Atlantic City from fees paid by the casinos that are new.
But State Assemblyman Chris Brown (R-District 2) holds firm, noting which he doesn’t want his district to lose its video gaming monopoly.
‘they will not come,’ Brown said back in March if we build in an over-saturated market.
Christie conceded in May that the North Jersey casino plan was ‘in big trouble.’ Fast-forward two months later on, and things seem also more dire for supporters.
Assemblyman Ralph Caputo (D-District 28), one of this sponsors of the expanded casino resolution, told The Wall Street Journal last week he was ‘very disappointed that it’s not receiving the attention it should.’
And while vast amounts in anti-expansion advertisements are anticipated to be spent over the next 100 days in television and radio ads, pro-north casino groups are few in number.
However, State Senate President Stephen Sweeney (D-District 3) did hold a rally in Bergen County in June, along with labor unions and politicians that are local and he stays optimistic.
‘I’m exhausted of the North vs. South vs. Central Jersey stuff. It’s about time we worked together,’ Sweeney said.
Macau Casino Revenue Down in July but Tops Earnings Forecasts
Macau casino income had been once again down in but Sheldon Adelson and others remain optimistic and continue to build casinos july. (Image: Jerome Favre/Bloomberg News)
Macau casino revenue is in the red for the 26th month that is straight. Revenues for the area’s nearly three dozen casinos totaled $2.22 billion in a 4.5 percent drop compared to July 2015 july.
The gambling epicenter of the world hasn’t posted a gain that is positive May 2014, and even though economists and business media are warning investors on the dangers surrounding the Chinese city, pelican pete slots there is some reason for optimism.
The $2.22 billion was a rebound that is strong June’s dismal showing. Profits in July had been actually up 11.9 per cent set alongside the preceding 30 times.
And the 4.5 percent year-over-year decline is actually the second variance loss that is best in 2016. Market forecasts had predicted Macau to lose 5.5 percent.
Income Down, Optimism Up
Casino.org is reporting for months on how Beijing’s crackdown on VIP junket operators catering to China’s elite has weighed hefty on Macau. High-stakes gamblers playing with loaned money from tour operators have now been hampered by the Chinese government ironically trying to reduce corruption.
Macau casinos taken in $45 billion in 2013. Last that figure plummeted to just $28.8 billion year.
Morgan Stanley recently stated that Macau’s 2nd quarter had been its worst in the last 5 years.
Las Vegas Sands CEO Sheldon Adelson believes the Macau gambling industry has hit its base and a recovery period is on the horizon. During a meeting call a week ago, the billionaire told investors that all signs point to an ‘ongoing stabilization for the Macau mass market.’
Adelson ‘s The Parisian resort will start regarding the Cotai Strip next month. But it is not simply casino players with vested passions in Macau’s stabilization who are optimistic.
‘We continue to be ahead of Las Vegas three times when it comes to revenues,’ Macau legislator Jose Coutinho told Bloomberg this week. ‘When it settles down within the next few years we’ll see the trend to a rise in the people that can come over from the Delta region and this will make Macau more profitable in terms of gaming.’
The Pearl River Delta is among the most densely populated regions in the world with an estimated population of more than 50 million residents.
More Competition, More Family
The general trend in Macau seems to be wanting to attract the greater amount of casual gambler. A family friendly destination though VIPs and junkets are expected to continue operating, albeit to a lesser degree than in recent years, long-term sustainability might come from making Macau.
The $2.5 billion Parisian will include a half-scale reproduction of the Eiffel Tower, ‘Aqua World’ pool, and ‘Qube Kingdom,’ an indoor and outdoor play area for children.
Wynn Palace may also open later this month. With construction costs rumored to be over $4 billion, the house shall have a ‘Performance Lake’ and a cable automobile attraction called ‘SkyCab.’
Once a city where millionaire businessmen fled from the mainland to gamble and potentially go money, Macau is slowly adjusting to economic facets and beginning to embrace its new image.
The outcome of Macau’s bet will be revealed in the years that are coming.
South Bend Casino Progress as Pokagon Indians Go Closer to Construction
Perhaps one of the most prestigious Catholic universities into the United States, the Notre Dame campus could soon be located only a drive that is short A south Bend casino. (Image: Matt Cashore/dailydomer.nd.edu)
The South Bend casino project being proposed by the Pokagon Band of Potawatomi Indians is currently open for public comment. Last week the US Department of this Interior’s Bureau of Indian Affairs (BIA) released the Environmental effect Statement (EIS) on the planned development, a step that commences a 30-day remark period for citizens to express both concerns and support.
Situated near the intersection of Prairie Avenue and US highway 31, the 166-acre site would house a 423,000-square-foot casino and 18-story, 500-room hotel. a large parking garage would have the ability to accommodate 4,000 vehicles.
The resort will be named the Four Winds Casino, the same name as the tribe’s three Michigan land-based casinos.
The targeted home is southwest of downtown South Bend, and about six miles through the University of Notre Dame campus.
‘The Pokagon Band has been doing this region for years and years,’ Pokagon Chairman John Warren said in a declaration. ‘These are historic agreements . . . that will infuse vast amounts into the economy and create hundreds of new jobs.’
After the month-long remark period is exhausted, the BIA will launch its Record of Decision on whether to permit the casino to start construction.
One organization wasted short amount of time in speaking out.
Citizens for a Better Michiana, an organization created to oppose the casino, said in a statement that criminal activity jumps 10 percent when a casino is made in a region previously resistant to gambling. The group says the casino is located ‘dangerously close’ to neighborhoods and schools and cited a scholarly study by the National Association of Realtors that found casinos have an ‘unambiguously negative’ impact on home values.
Under terms of the deal the Pokagon reached aided by the neighborhood Southern Bend government, the casino would direct two per cent of its net winnings to your town. However, since the Pokagon is just a federally recognized tribe running on reservation land, the casino would be exempt from paying federal and state income tax.