Online Casino News From Around the Globe

Caesar’s Golden Egg Playtika Sold For $4.4 Billion to Chinese Consortium
Jul30

Caesar’s Golden Egg Playtika Sold For $4.4 Billion to Chinese Consortium

Caesars Interactive Entertainment’s social casino gaming company Playtika has been sold to a consortium of Chinese companies for $4.4 billion. After weeks of rumors that Caesars would use their golden goose to avoid bankruptcy, it has been confirmed that a consortium that includes Giant, Yunfeng Capital and others are set to purchase Playtika that was founded in 2010 by Robert Antokol and Uri Shahak. It was sold to Caesars in 2011 for around $80m. In terms of the agreement Playtika will remain in their headquarters in Herzliya with their existing management team in place. CEO and co-founder of Playtika Robert Antokol was naturally delighted at the acquisition and said, ”This transaction is a testament to Playtika’s unique culture and the innovative spirit of our employees who for the past six years have consistently designed, produced and operated some of the most compelling, immersive and creative social games in the world. We are incredibly excited by the commercial opportunities the Consortium will make available to us, particularly in its ability to provide us access to large and rapidly growing emerging markets. This is an amazing milestone for all Playtikans and we truly value how unique this opportunity is to continue executing our vision with such a strong partner.” Playtika is the top social casino gaming company in the world with over 6 million daily active users in over 190 countries. The social casino market is worth over $3 billion currently and is growing the whole time. Playtika are the top of the leaderboard and have nearly double the market  share of their nearest competitor IGT. A representative for the Chinese consortium gave their side of the deal and said,” Playtika’s growth has been exceptional, and highlights its outstanding team, excellent corporate culture, cutting-edge big data analytics, and its unique ability to transform and grow games. We are looking forward to Playtika continuing to innovate and excel.” The man with the largest grin on his face id Caesars Interactive Entertainment’s CEO Mitch Garber who can take credit for purchasing a company that has grown to over 44 times the value at which it was purchased and grown from a modest 10 person startup to currently employing around 1300 employees around the globe. Garber said,” Playtika today is a highly profitable growth company with more than 1,300 employees, multiple top grossing titles and millions of daily users. Robert is a true visionary and Israeli business leader who has created not only a great business, but also the most unique corporate culture I have seen in my career.” The transaction will not include Caesars Interactive Entertainments real money assets like...

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FanDuel Receives UK Gaming Licence
Jul28

FanDuel Receives UK Gaming Licence

Just like rivals DraftKings, DFS operator FanDuel is seeking greener pastures outside of the US in order to expand operations and avoid the legal complications they are having in the US as the legality of DFS is still not a given in all states. According to reports FanDuel has received the green light to operate by the Gambling Commission who on their website showed FanDuel’s license status from “in progress” to “active.” FanDuel can now “provide facilities for poll betting by remote communication.” While not formally confirming the news, FanDuel have announced their partnership with sports data firm Opta ahead of the start of the English Premier League season. In terms of the partnership Opta will be responsive for providing live performance statistics to FanDuel’s UK Platform. FanDuel CEO Nigel Eccles is relying heavily on welcome relief for the UK market as they continue to struggle with legal issues in the US and need to find new markets to test the waters for DFS. To start off  FanDuel’s UK product will offer only fantasy football but expansion to other sports seems likely. Their rivals DraftKings offer a variety of sports in the UK and use dollars not pounds which FanDuel plan in their UK...

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Oulala Expands Into India and Australasia With Cardinal House
Jul27

Oulala Expands Into India and Australasia With Cardinal House

When it comes to Daily fantasy sports one tends to think of the main players DraftKings and FanDuel. There are however other players like the Malta- based Oulala who have been making waves in the troubled industry. While the legal problems of FanDuel and DraftKings seem to be an inherent part of their business. Oulala is focused outside of the US which solves a lot of the legal headaches of US based operators. Oulala’s latest move to expand their operations takes them to India and Australasia as they announced a white label agreement with Cardinal House Group, the Australian registered B2B and B2C provider of online social gaming and real money products. CEO of Oulala, Valery Bollier commented on the venture,” At Oulala, we are excited to offer our platform to football lovers in India, Australia and other nearby countries. This is the next logical step for us in pursuing our mission to become the leading global Daily Fantasy network for football.” Chairman of Cardinal House Group and the man responsible for the latest expansion move, Graham Martin said,” Oulala has proven itself to be a groundbreaker in daily fantasy football in Europe, and its innovative DFS platform has great potential in other markets...

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MGM Resorts Accused Of Stealing VIP Client Database In Maryland
Jul26

MGM Resorts Accused Of Stealing VIP Client Database In Maryland

The most valuable asset to any casino is their VIP clientele who are treated like royalty in return for the millions they spend. Needless to say any database of such VIP’s could be a game changer and is protected at all costs. Competition in Maryland amongst casinos is fierce as gaming revenues rose 8.5 percent for the first six months of 2016 to $581 million. MGM Resorts is opening their National Harbor casino later this year and is now embroiled in a scandal that could be the plot of a Hollywood movie. Maryland Live is accusing MGM of not only poaching three executives but also of obtaining over 3000 names of VIP’s that were allegedly downloaded by the newly appointed executives. According to Maryland Live the scheme was thought up by MGM who knowingly hired these high ranking executives despite them having no-hire/non-compete clauses in their contrast with Maryland Live. The alleged databases relate to the names and contacts of clients in the two top tier loyalty programs: Black Card and Chairman’s Club. MGM resorts were quick to deny the allegations and put it down to a “thinly disguised attempt to stifle the competition.” Maryland Live has filed a lawsuit in the Baltimore Federal court where the tale of industrial espionage will be...

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William Hill Share Price Spikes Amidst Merger Talks With 888 and Rank
Jul25

William Hill Share Price Spikes Amidst Merger Talks With 888 and Rank

Only a few days after sacking their Chef Executive James Henderson, William Hill has reportedly been approached by rivals Rank Group and 888 Holdings for a possible three way merger that would be worth over £3 billion. The days of standalone operators in the UK seem to be over as mergers between formal rivals seem to be the only way forward. The merger between Paddy Power and Betfair created one of the largest gambling companies in the world with their £5 billion merger. The proposed £2.3 billion merger between Ladbrokes and Gala Coral is almost certain to pass the Competition and Markets Authority process according to industry experts. The £3 billion merger of Rank and 888 with William Hill shows just how challenging the gambling market is as only last year William Hill attempted to takeover 888 but were halted at the last minute by one of 888’s founders. The proposed merger talks have not been formally acknowledged by Rank and 888 have to formally announce their intention to make an offer by August 21. William Hill were keeping pretty quiet about the rumors but did say they would listen and consider any proposal that would be forthcoming. 888 and Rank for their part said they see “significant industrial logic in the combination”. William Hill have struggled over the last year mainly due to disappointing online revenues which has led to their share price falling by around 20 percent this year leaving the firm with a valuation of around £2.7 billion. Despite the management turmoil and poor online results William Hill is still a major brand and a 888/Rank consortium acquiring William Hill would create one of the top gaming brands...

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