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Caesars Acquisition Share price climbs

Wednesday November 20 ,2013 : GOOD START TO TRADING FOR CAESARS ENTERTAINMENT ONLINE GAMBLING SPIN-OFF
 
Share price climbs as trading commences
 
Caesars Acquisition Co., the spinoff from Caesars Entertainment Corp. that gives investors a separate stake in the parent company’s online gambling business, debuted on the Nasdaq exchange Tuesday with the share price climbing on its first day of trading.
 
Caesars offered shareholders the right to buy stock in the subsidiary for $8.64 a share to bolster its balance sheet and highlight what the company sees as growth businesses, the Bloomberg news agency reported, noting that Caesars Acquisition distributed 135.7 million shares to investors, raising $1.17 billion.
 
Trading eased later in the day, with the shares, which opened for trading at $11.90, closing at $11.05, giving the company a market value of about $1.5 billion.
 
The company owns a 42 percent interest in Caesars Growth Partners, an entity that owns the Planet Hollywood Casino in Las Vegas, a new casino under construction in Baltimore and most of Caesars Interactive Entertainment, the company’s online gambling unit. Caesars Entertainment retains the rest.
 
The private-equity firms Apollo Global Management LLC and TPG Capital acquired Caesars in a $30.7 billion leveraged buyout in 2008. The firms, which have been restructuring Caesars’ significant debts since then, have committed $600 million to Caesars Acquisition.



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

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Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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