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Caesars Stock Spinoff
Friday July 12,2013 : CAESARS 1.18 BILLION STOCK OFFER IN NEW ONLINE SPINOFF (Update)
Venture to boost balance sheet
Caesars Entertainment Corp will distribute rights to its stockholders to buy around 125 million shares of Caesars Acquisition Co. at $9.43 each, reported Bloomberg Wednesday.
These two entities will form Caesars Growth Partners, as announced earlier this year, a venture comprising Interactive Entertainment which will include social and mobile gaming, the World Series of Poker business and regulated online gambling; and Casino Properties and Development which is likely to include the Planet Hollywood Resort & Casino in Las Vegas and other businesses.
Caesars Entertainment reported $21.1 billion debt at March 31, 2013 and the creation of the new venture will go a long way to boosting the balance sheet while funding further investments.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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