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October 17 will see investors given the opportunity to buy into the burgeoning US online gambling business.
Caesars Entertainment Corp. has set October 17 as the record date for rights to participate in a planned $1.18 billion stock sale that will include an interest in its burgeoning online gambling business, the Reuters news agency reported Friday.
On that date investors will be given the right to buy one share of Caesars Acquisition Co. for each share of the parent company they own.
The new company will be part owner, with Caesars, of a business dubbed Caesars Growth Partners that will be home to the company’s interactive gaming and two casinos.
Caesars Entertainment has a debt burden of over $23 billion after a 2008 leveraged buyout, and is raising the money for projects such as online gaming and new land casinos.
Reuters reports that in the past week, the company refinanced $4.9 billion in mortgage-backed securities and other debt, while raising $200 million in a stock offering.
Caesars is controlled by TPG Capital and Apollo Global Management LLC; the stock was priced at $20.67 in New York Thursday, and has almost tripled in value this year.

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Gambling News :

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

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NYX Gaming Group Expanding in Italy - NYX Gaming Group says its continues to bridge the gap between online and land-based operators as it announced a new licensing deal in the Italian market.

Interwetten Q3 2016 Report - In a brief third quarter 2016 report, Malta-headquartered online gaming company Interwetten reported strong growth across all verticals, with an emphasis on online casino revenues.

Evolution Gaming Q3 2016 Report - Evolution Gaming Group AB delivered in its third quarter 2016 results reporting strong growth in revenue and a significant increase in mobile penetration. The company attributes is success to strong general growth and continued high demand for dedicated environments.

Ladbrokes Donates to Gamcare’s new Youth Program - UK gaming firm Ladbrokes has pledged GBP 180,000 to Gamcare’s new Youth Program over 2016 and 2017, following a visit by chief executive officer, Jim Mullen.

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Mecca Launch Instant Win Games - IWG has provided instant win content to lotteries for the past 15 years, amassing a portfolio of over 250 games. Its deal with Mecca signifies a move into the wider online gaming industry, servicing commercial brands and platforms.

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