No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
AMAYA GAMING TO ACQUIRE CADILLAC JACK
Wednesday September 26,2012 : AMAYA GAMING TO ACQUIRE CADILLAC JACK
Acquisition enhances growth opportunies
Amaya Gaming Group is back on the acquisition trail entering into what has been termed an "arm's length definitive agreement" to acquire Cadillac Jack, Inc.
The merger transaction will cost Amaya in the region of US$167 million for 100 percent of the equity in Cadillac Jack along with clearing its debt and will be funded through three separate cash payments.
The U.S. Georgia State head-quartered Cadillac Jack serves as a developer and supplier of video reel slots, wide area and multi-level progressives and Latin style bingo games. It also develops content and technologies specific to the US and Mexican gaming markets.
Cadillac Jack reported US$78.5 million in total revenues and US$17.8 million in net income in the year ending December 31, 2011. During that same period Cadillac Jack generated US$35.7 million in adjusted EBITDA1 and reported total assets of US$72.0 million and total liabilities of US$85.8 million.
For the six month period ended June 30, 2012, the unaudited consolidated financial statements of Cadillac Jack reported US$39.6 million in total revenues and US$3.9 million in net income. During that same period Cadillac Jack generated US$18.4 million in adjusted EBITDA and reported total assets of US$77.9 million and total liabilities of US$87.6 million.
Under the three separate cash payments, Amaya will make the first upon closing of the Acquisition which will total approximately US$147.0 million. Two additional payments of US$10.0 million each will be made on the first and second anniversaries of the closing of the acquisition which Amaya said it will finance through a combination of cash-on-hand and a new US$70.0 million to US$100.0 million non-convertible senior secured term loan.
"The acquisition of Cadillac Jack is a pivotal event for Amaya. We expect that the combined companies will leverage their distribution for game content in the key areas of online, mobile and land based casinos. The Acquisition creates immediate scale for Amaya's operations and greatly enhances growth opportunities for both companies," said David Baazov, chief executive officer of Amaya.
By combining operations of the two companies, Amaya said it expects the acquisition to result in substantial revenue and cost synergies, which it should achieve within the first year following the closing of the sale.
"I want to thank Gene Chayevsky, who has held leadership roles at Cadillac Jack since 2004 and been its chief executive officer since 2008, for his stewardship in establishing one of our industry's emerging leaders," said Baazov. "The foundation for growth that Gene established at Cadillac Jack made it an ideal complement to Amaya's business."
"I'm proud of our team and our accomplishments over the past several years, which established Cadillac Jack as one of Georgia's and the gaming industry's leading growth companies," said Gene Chayevsky, chairman, chief executive officer, and controlling shareholder of Cadillac Jack.
Chayevsky will leave the company but will assist in the transitional period prior to closing. Amaya's David Baazov will take over the reins as chairman of the board and chief executive officer while Mauro Franic, current chief operating officer, and Sigmund Lee, current chief technology officer, will retain their positions at the company.
The closing date of the Acquisition is expected during the fourth quarter of 2012.
Amaya rumoured to be interested in the acquisition of Bwin.party Entertainment’s Ongame Poker Network earlier this month.
Gambling News :
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.