Connect with us
SIS

Gambling in the USA

Caesars Entertainment to acquire Centaur Holdings, LLC

George Miller

Published

on

Caesars Entertainment to acquire Centaur Holdings, LLC
Reading Time: 2 minutes

Caesars Entertainment Corporation (Caesars) recently announced it has entered into a definitive agreement to acquire Centaur Holdings, LLC (Centaur) for $1.7 billion in cash, including $1.625 billion at closing and $75 million in deferred consideration. As a result of the transaction, Caesars will add Hoosier Park Racing and Casino (Hoosier Park) in Anderson, Ind. and the Indiana Grand Racing and Casino (Indiana Grand) in Shelbyville, Ind. to its Total Rewards network.

The addition of Centaur is the first example of our post-emergence, inorganic growth strategy. The acquisition of Centaur represents an excellent opportunity to enter into a growing region. We anticipate that the deployment of Total Rewards will bring substantial benefits to current Centaur customers and the implementation of our centralized supply chain and efficient operating model will drive synergies.” – said Mark Frissora, president and CEO.

Centaur welcomes more than 6.5 million guests each year across its properties and serves more than 1.1 million members as part of its loyalty program. Caesars Entertainment considers central Indiana an attractive region for investment based on the combination of under-penetration and favorable economic fundamentals. Hoosier Park and Indiana Grand, which serve the Indianapolis area, will add to the Caesars network, which includes Horseshoe Hammond and Horseshoe Southern Indiana. Horseshoe Hammond serves the Chicagoland area and Horseshoe Southern Indiana serves the southern Indiana and Louisville area. 

We are impressed with Centaur’s operations and culture, and the strong presence it has built in its host communities. Together, we will build on our respective value creation and execution achievements for the benefit of customers, employees and local partners,” Frissora said. “We look forward to welcoming Centaur’s properties, guests and employees to the Caesars Entertainment family.

Offering gaming, racing, dining and entertainment, both Hoosier Park and Indiana Grand feature over 2,000 of the latest slots and electronic table games, multiple dining outlets and both live and simulcast horse racing.

We believe the acquisition of Centaur is the best use of capital to support our growth plans and the long-term value of Caesars Entertainment. Our network expansion plan is off to a great start with this strategic transaction and we continue to have a strong financial position with solid cash flows to pursue other expansion opportunities with attractive returns,” said Frissora.

For more information, visit www.caesars.com.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Continue Reading
Advertisement
Comments

Gambling in the USA

Sports Betting Revenue of West Virginia Increases in May

Niji Narayan

Published

on

Sports Betting Revenue of West Virginia Increases in May
Photo Source: wvpublic.org
Reading Time: 1 minute

 

Sports betting revenue in West Virginia has increased by 69% in May to $937,065, while amounts wagered rose 4%.

The Penn National Gaming-operated Hollywood Casino remains the leading venue in the state generating $672,070 in revenue from $7.64m staked. Eldorado Resorts’ Mountaineer Casino ranked second with revenue of $222,736 and total wagers of $2.84m.

Delaware North’s Wheeling Island Hotel-Casino-Racetrack and Mardi Gras Casino did not accept any wagers again last month as its sportsbooks remained closed. Neither casino has processed any sports bets since early March. However, both the Wheeling Island Hotel-Casino-Racetrack and Mardi Gras Casino paid out on a number of bets placed prior to the split, leaving them with minor losses for the month.

Continue Reading

Gambling in the USA

SugarHouse Casino to Change Name as Rivers Casino Philadelphia

Niji Narayan

Published

on

SugarHouse Casino to Change Name as Rivers Casino Philadelphia
Photo Source: visitphilly.com
Reading Time: 1 minute

 

SugarHouse casino is going to change its name as Rivers Casino Philadelphia. Greg Carlin, CEO of the casino’s parent company Rush Street Gaming said it was a corporate decision, to unify all their casinos under the same name.

“This is something we’ve been thinking about for quite a while. I think we are at the point in our company’s history where it makes sense to have a unified brand. All our properties and markets, especially with the advent of online gaming, we think it makes a lot of sense,” Greg Carlin said.

Carlin said the change will not happen overnight because they have a great deal more work to do.

“We’re going to buy all new chips, change all the signage, all the shirts, all of the business cards — it’s a long list of things that need to be swapped out. Not only that we’re upgrading the property, but we’re also going to add a state of the art sports book. We’re redoing one of the restaurants. We’re re-carpeting the original casino floor. We’re changing the decorations, we don’t want this just to be a name change, we’re really changing the property as well,” Carlin added.

Continue Reading

Gambling in the USA

Intralot Announces New Board Of Directors For Its U.S. Subsidiary

George Miller

Published

on

Intralot Announces New Board Of Directors For Its Us Subsidiary
Reading Time: 2 minutes

 

INTRALOT announces the appointment of a new Board of Directors at its fully owned US subsidiary, INTRALOT Inc. to include three new Independent Directors.

  • Ambassador (Ret.) Thomas Miller, Non-Executive Chairman and Independent Director
  • Mr. Daniel Rappaport, Non-Executive Vice-Chairman and Independent Director
  • Mr. Nicholas Mitropoulos, Independent Director
  • Mr. Byron Boothe, Director and Interim CEO, INTRALOT Inc.
  • Mr. Nikolaos Nikolakopoulos, Director and INTRALOT Group Deputy CEO

INTRALOT Group Chairman and CEO Mr. Sokratis Kokkalis stated: “I am very pleased to welcome three very senior Independent Directors at the Board of INTRALOT Inc. joining a very experienced team, in support of our efforts to strengthen corporate governance as a driver for growth and customer satisfaction.”

Thomas Miller is a former American diplomat and three-times U.S. Ambassador, including ambassadorships in Greece, Bosnia-Herzegovina, and as Cyprus negotiator. He has also served as CEO of Plan International, a UK-based NGO, working to help children in developing countries; President/CEO of International Executive Services Corps (IESC); President of the United Nations Association; Chairman of the International Commission of Missing Persons (ICMP); and a board member of The Partnership for a Secure America. He is a member of the Council on Foreign Relations.

Daniel Rappaport has served as Chairman of the Board/CEO of the New York Mercantile Exchange (NYMEX); member of the National Petroleum Council (NPC); and member of the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee. He served as a board member of the Futures Industry Institute, a trustee on the Board of Trustees of New York Law School, and as an appointment of the Governor of the State of Connecticut on the board of directors of Connecticut Innovations.

Nicholas Mitropoulos is a political and business consultant who has previously worked with the Monitor Company. He served as Executive Director of the Taubman Center for State and Local Government at the Harvard Kennedy School, was the Director of the Forum at the Kennedy School, as well as Deputy Director of Institute of Politics at Harvard.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.