Each week, CasinoBeats details the numbers behind some of the industry’s most interesting stories. In our last edition, we come back to the M&A action with Crown Playtech, Tombola and Microgaming; a Dutch regulatory investigation and termination of Wynn Resorts.
Blackstone Group rekindled its interest in ailing Australian casino operator Crown hotels, coming back with an offer of AU $ 12.50 per share that values the company at 8.5 billion euros (AU $ 6.2 billion).
The offer followed a pair of earlier openings made by the U.S. investment management firm and its affiliates earlier in the year that valued the group at A $ 12.35 per share after an offer initial $ 11.85 was viewed as undervaluation and “not in the best interest” of shareholders.
The Crown said it “had not yet formed an opinion on the merits of the proposal,” adding that it would now assess the bid, in terms of value, conditions and other considerations. ; as well as involving relevant stakeholders, including regulators.
“Crown shareholders do not need to take any action on the proposal at this time. There is no certainty that the proposal will result in a transaction, ”the company said.
The Dutch regulator said it was closely examining the operations of 25 unlicensed and still unnamed gambling websites in an effort to ensure they do not engage consumers in the country.
The Kansspelautoriteit however warned that “if it is possible to participate in a game of chance on these Dutch websites, penalties will follow.”
In addition, he added that coercive measures could also be taken against “promoters of such games of chance”, the Ksa citing payment service providers and advertisers.
This came after the gaming authority detailed a new approach to illegal online operators earlier this year, which came into effect with the country’s long-awaited legalized online gaming market opening, which took place at midnight (Friday October 1).
Playtech confirmed to have received a preliminary approach from a third suitor looking to acquire the gaming tech company, with JKO play, led by former Formula 1 team owner Eddie Jordan and Keith O’Loughlin, ex-Scientific Games, evaluating a competing offer.
The consortium is working with US private equity firm Centerbridge Partners on the provision of institutional debt and structured capital finance, with press reports suggesting a £ 3 billion counter-offer may be in sight.
The company is said to be “seeking access to certain due diligence information in order to explore the conditions under which an offer for Playtech by JKO could be made”.
Playtech noted that “discussions with JKO are at an early stage and there is no certainty that JKO’s approach will result in a firm offer for Playtech, nor as to the terms on which a firm offer can be made.”
This follows a similar preliminary approach by Gopher Investments to the group earlier in the month, after Playtech previously confirmed that a £ 2.7 billion takeover bid had been received from the Australian game maker. Aristocrat Leisure.
Flutter Entertainment acquired Raffle adding the UK’s ‘most recreational’ online bingo operator to its brands.
As part of the acquisition, Flutter will pay £ 402million in cash upon completion of the transaction for 100% of the business. The transaction is conditional on merger review approval by the UK Competition and Markets Authority and is expected to close in the first quarter of 2022.
Flutter Entertainment believes that the addition of Tombola to its portfolio will provide several “key strategic advantages” such as product diversification.
The Operator Group stressed that Tombola will also create a more engaged and sustainable player base while improving Flutter’s safer gaming strategy.
Wynn Resorts and Austerlitz acquisition company disclosed the mutual agreement termination of a previously announced interactive business combination.
This ends the deal between the operator’s online gaming division and the newly incorporated blank check company, which was originally detailed in May 2021, with immediate effect.
It was previously specified that the combined company would retain “Wynn Interactive, Ltd. ”Name and re-lists its shares on the Nasdaq Stock Exchange under the new ticker symbol“ WBET ”.
The combination is expected to include around $ 640 million in Austerlitz cash proceeds to fund operations and support new and existing growth initiatives, with a company valued at around $ 3.2 billion at closing, representing 4.5 billion dollars. times the projected revenues of Wynn Interactive in 2023, to be created.
A “changing of the guard” was announced by Micro games, with John Coleman who will step down as CEO on December 31, 2021, with Andrew Clucas, current COO of the group, to take the reins.
In addition, the group has also accepted the sale of its Rapid fire distribution activity and portfolio of online games at World Games, a privately funded company that was formed in early 2021.
Billed as a “historic sale” by Microgaming, the deal will see Games Global acquire the international distribution rights for Microgaming’s exclusive game content, including progressive jackpot titles, as well as its extensive customer base of over 900 game brands. global.
The acquisitions, which are subject to obtaining certain regulatory approvals from Games Global, are expected to be finalized in the second quarter of 2022.
Lady Luck Games seems ready to acquire a London-based studio Revolver set because the company founded in Stockholm has signed an exclusive letter of intent.
Under the terms of the acquisition, agreed to by both parties, the purchase price will consist of a combination of cash, totaling € 750,000, and approximately 4.2 million newly issued shares of Lady Lucky Games through an offsetting issue carried out at a share price of SEK 3.00.
The total number of shares outstanding of the company to date is 44,905,472, with dilution due to the offsetting issue amounting to approximately 8.5 percent.
The research carried out by the Washington State University discovered that sports betting at tribal casinos in the region is set to grow into a $ 94 million industry over the next five years.
WSU, which presented its findings to the Washington State Gaming Commission this week, says its projection of $ 94 million reflects residents’ enthusiasm for professional and college sports and their interest in betting. It is also estimated that sports betting at tribal casinos will lead to around 273 direct jobs.
If online sports betting from remote locations became legal in Washington in the future, the industry would more than triple in size, generating around $ 322 million in annual revenue, according to the study.
About 59 percent of those polled described themselves as sports fans, and 5 percent said they bet on games at least once a month. Almost 14% said they were likely to participate in the emerging sports betting industry in Washington.