The leadership of Entain Plc is closely monitoring the planned sell-off of William Hill’s UK and European assets by new owner Caesars Entertainment. Group CEO, Jette-Nygaard Andersen, disclosed to Bloomberg that the FTSE100 firm was looking at the possibility of acquiring William Hill’s UK/European divisions, which are set to be divested by Caesars Entertainment as new owner of the heritage …
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International Game Technology (IGT) has reported revenue growth of 25% for Q1 2021, attributed to structural cost savings, continued player demand and the sale of its Italian B2C business to Gamenet Group. Overall group revenue rose to $1.01bn (2020: $814m). Although the figure still represents a 11.3% decrease from the $1.14 billion in 2019, the group remains hopeful that it …
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New York private equity fund Apollo Global Management has terminated its pursuit of a William Hill Plc buyout. This morning, Apollo stated that it would not disclose any formal bid for William Hill to rival the £2.9 billion cash offer made by Caesars Entertainment – a deal which has been accepted and recommended to shareholders by William Hill’s board of …
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SAZKA Group has accepted a €500 million ($590m) investment from New York private equity firm Apollo Global Management to advance its European and North American growth options. The transaction has been approved by SAZKA holding company KKCG AG, the investment fund of Czech billionaire Karel Komárek, who is the majority shareholder and Chairman of SAZKA Group. Apollo’s €500 million fund …
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US multinational private equity firm Blackstone Group has expanded its industry portfolio acquiring Spanish gambling operator Grupo Cirsa and its related assets. Deal stakeholders have chosen not to disclose financial terms, however Cirsa advisors have previously stated that the firm’s sale would target a €2 billion valuation. The Spanish operator’s outright sale has been mooted for a long time by …
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Caesars Entertainment Corporation (CEC) has been granted judicial clearance to restructure the $18 billion debt attached to bankrupt subsidiary Caesars Entertainment Operating Co (CEOC), allowing the company to close its US Chapter 11 court filing. Gaining approval from Chicago District Judge Benjamin Goldgar, CEC governance will now settle terms and payment structures with CEOC creditors who at the start of …
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Updating the market on Tuesday, Caesars Entertainment Corp (CEC) governance declared that it had reached a $5 billion settlement with the majority of creditors owed by its bankrupt operating unit Caesars Entertainment Operating Co (COEC). Following nearly two years of litigation disputes, the COEC $18 billion bankruptcy restructure clears its biggest hurdle with private equity backers Apollo Global Management and TPG …
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Amaya Inc today confirmed the completion of its $476 million sale of Cadillac Jack, Inc to AGS LLC an affiliate of funds managed by Apollo Global Management, LLC Pursuant to the previously announced Stock Purchase Agreement, AGS has purchased all of the shares of Amaya Americas for an aggregate purchase price of approximately $476 million1, comprising cash consideration of approximately $461 million …
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Despite recording a strong start to its H1 2015 corporate performance, Gala Coral governance has warned of further potential regulatory uncertainty for the gambling industry. At the start of 2015 Gala Coral governance had stated that the operator would investigate a potential IPO, following the conclusion of the 2015 UK General Election. However the operator has noted potential regulatory blocks …
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NYX Gaming Group has snapped up the Chartwell Technology and Cryptologic businesses from Amaya via a share purchase agreement valued at CA$150,000,000 (£80.8m). The transaction is anticipated to close before the end of the third quarter of 2015 and is subject to financing and other customary closing conditions. Amaya said that the sale is consistent with its previously announced plan …
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