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OHL raises stake in PokerStars’ €500-million Madrid project

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OHL raises stake in PokerStars’ €500-million Madrid project
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OHL Desarrollos, the leading construction company in Spain, has acquired a 32.5 per cent stake in the Centro Canalejas Madrid development project, raising the company’s stakes to 50 per cent. The remaining 50 per cent of the project is owned by the PokerStars founder Mark Scheinberg.

The complex will have hotel and residential areas as well as retail space and multiple food and beverage outlets. It is scheduled to open by the end of 2019. The project is located next to the Puerta del Sol square in Madrid and includes buildings formerly occupied by the Banco Santander.

In a Monday filing to Spain’s National Securities Market Commission (Comisión Nacional del Mercado de Valores), OHL said that it would pay €50 million for the 32.5 per cent stake in the development with an option for an additional €10-million payment in the event of gains if it sells its stake subsequently.

Excluding the newly added holding, OHL originally owned 17.5 per cent in the scheme. The acquisition marks Villar Mir’s official exit from the project and provides OHL with a 50 per cent stake, the other 50 per cent being owned by Mr. Scheinberg, who joined the project last February through his company Mohari Limited.

Development work commenced in 2014 and the complex is now expected to open doors in late 2019. It will feature a 200-room Four Seasons-operated hotel, which will mark the Canadian chain’s entry into the Spanish hospitality market, a residential area, which will, too, be operated by Four Seasons.

The property is expected to create 4800 direct and indirect jobs and has been touted as one aiming to bring revitalisation to the area and protect the historic and cultural heritage of the buildings it will include. In fact, the risks the project might pose to the integrity of the area have been one of the main reasons why it has been contested heavily by a number of heritage defense groups.

Mr. Scheinberg, who together with his father, Isai, founded PokerStars in the 2000s and then sold it to Canada’s Amaya for nearly $5 billion, entered the Centro Canalejas Madrid scheme in February 2017. The businessman, whose net worth is estimated at $4.8 billion (Forbes: Real Time Net Worth), paid €225 million for a 50 per cent stake in the endeavour. The deal marks his first foray into the Spanish real estate market, which seems to be gradually returning its mojo after the 2008 property bubble burst that saw property prices collapse overnight and shatter Spain’s economy like a massive earthquake.

 

Source: casinonewsdaily.com

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ICE Barcelona to deliver razor-sharp focus on LatAm and evolving Brazilian Market

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January’s first edition of ICE Barcelona will feature a programme of content, discussions and C-suite networking curated specifically to meet the needs of the new regulated market in Brazil and the broader opportunities which exist in Latin America.

Living up to its reputation for being the business-to-business event which is at the forefront of industry developments across both regulation and emerging technologies ICE 2025 will feature a three day program which is dedicated to all aspects of the market in Brazil including regulation, compliance and the adoption of new technologies including the use of biometric recognition in relation to age verification and consumer protection.

Announcing the program and confirming ICE Barcelona’s role as the meeting place for international decision-makers and stakeholders, Clarion Gaming Managing Director Stuart Hunter said: “ICE was recently described in trade media as being the most important gaming event on the ‘planet’ and I believe that the show will live-up to that accolade when we welcome the world industry to our new Barcelona home in January.

“Some industry events place a strong emphasis on the past but for ICE our focus is unashamedly on the future. To this end we have been working closely with colleagues and stakeholders in Latin America to ensure that ICE is on the front foot bringing together the lawmakers, regulatory bodies, thought leaders, operators, innovators and technology providers all of whom have an important role to play in developing the market infrastructure.”

He added: “The importance of LatAm will be evident from the very start of ICE Barcelona when Vicente Fox, the former President of Mexicoheadlines the World Regulatory Briefing taking place Monday 20 January when he will address the topic of ‘Regulation and Revitalisation’ and the requirements needed to balance economic growth with community protection.

“A critic of the populist movements sweeping the region, he will outline his business-centric approach to the development of Mexico, and why he favours casinos as a tax benefit to reduce Mexico’s dependence on unpredictable oil income, and for heling to grow the local tourism industry. The keynote reflects the importance of Latin America as a leading voice in the global gambling industry and represents a major coup for ICE Barcelona.”

“The following day we will be staging a seminar which will cover the very latest business-critical information on the market in Brazil which will be supplemented by sessions focussed on Latin America. On the closing day the LatAm sessions will address the key issue of responsible gambling including the ground-breaking use of biometrics which will be of huge interest to regulators and operators from throughout the world.”

He concluded: “In all of the extensive research that we undertake in order to identify the most important issues impacting the business Brazil and Latin America consistently top the list. By attending ICE Barcelona gaming industry professionals will be able to connect with the main players, learn everything they need to know about doing business in Latin America and find the right organisations to collaborate with. For anyone with an interest in Latin America and in particular the Brazilian iGaming market ICE Barcelona is undoubtedly the place to be.”

For more information on the world’s greatest gathering of gaming professionals and to register: icegaming.com

 

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FDJ Announces its First Bond Issue

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La Française des Jeux (FDJ), one of Europe’s leading betting and gaming operators, will meet investors over the next days with a view to launching its first bond issue, subject to market conditions.

FDJ recall that, on 7 November, Moody’s assigned the Group a long-term credit rating of Baa1 – stable outlook.

With a total value of €1.5 billion, in 3 tranches with maturity of 6, 9 and 12 years, the bond issue would be used to refinance most of the €2 billion bridging loan, drawn on 7 October to finance the acquisition of Kindred shares for nearly €2.5 billion. The bonds will be listed on the Euronext regulated market in Paris.

Furthermore, FDJ is finalising a €400 million syndicated loan with top-tier French and international banks, which will be repaid over 5 years. This financing is also intended to repay the bridging loan which will be settled with Group’s cash.

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CT Interactive Shortlisted in Two Categories at BEGE Awards 2024

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CT Interactive has announced that it was shortlisted in two categories for the upcoming prestigious BEGE Awards 2024. The company has been recognised for its exceptional contributions to the online gaming industry by being among the finalists for Online Game of the Year for the innovative and engaging game Doctor Winstein Buy Bonus and Online Provider of the Year.

The BEGE Awards, which celebrate excellence and innovation in the gaming and entertainment industry, will be held on November 27, 2024, at the Club Black & White in the Grand Hotel Millennium, Sofia.

This year’s nominations reflect CT Interactive’s dedication to creating top-tier gaming experiences and its continuous efforts to push boundaries in the online gaming world.

“Being recognised in these two categories is a testament to the hard work and creativity of our entire team. We are thrilled to be among the industry’s finest at the BEGE Awards once again,” said Monika Zlateva, CCO at CT Interactive.

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