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Carl Icahn to team up with Tilman Fertitta to acquire Caesars

Niji Narayan

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Carl Icahn to team up with Tilman Fertitta to acquire Caesars
Photo Source: fortune.com
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Billionaire investor Carl Icahn could team up with another billionaire and owner of the Houston Rockets and Golden Nugget Casino, Tilman Fertitta to make an acquiring bid for Caesars Entertainment. Icahn is presently the company’s controlling shareholder.

Caesars had rejected the merger offer from Fertitta. The Icahn-Fertitta combination could turn out to be an irresistible one for Caesars.

Icahn now owns 28.5% shares in the company. That means the new partnership needs to buy only 71.5% of shares to acquire the firm. Caesars’ shares currently trade at $8.37 a share, giving the company a valuation of $5.6 billion.

Fertitta, who runs five Golden Nugget casinos including Las Vegas and Biloxi, Miss., is worth $4.8 billion, according to Forbes.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Gambling in the USA

Eldorado Resorts to Buy Caesars Entertainment Corp

Niji Narayan

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Eldorado Resorts to Buy Caesars Entertainment Corp
Photo Source: tripsavvy.com
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Eldorado Resorts Inc., the US based casino operator, has agreed to merge with Caesars Entertainment Corp through a $17.3 billion cash and stock deal.

The deal, which is expected to be announced soon, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly between Eldorado and Caesars shareholders.

An Eldorado spokesman said the company did not comment on rumours or speculation. Caesars did not immediately respond to requests for comment.

The combination of the two companies would create a serious competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.

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Gambling in the USA

Encore Boston Harbor Opens its Doors

Niji Narayan

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Encore Boston Harbor Opens its Doors
Photo Source: blocktoro.com
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Encore Boston Harbor has officially opened its doors to the general public. Totalling $2.6 billion in single phase development, Encore Boston Harbor is the country’s most expensive resort development of 2019. The resort is designed by Wynn veteran, Roger Thomas, Executive Vice President of Wynn Design.

The resort features a 210,000-square-foot casino; 15 dining and lounge venues; 671 guest rooms and suites; 50,000 square feet of indoor and outdoor event space; an ultra-premium spa; and a four-season, six-acre Harborwalk.

“I want to thank each of you for joining us on this beautiful day, including our first resort guests. To the members of Everett United, thank you, you have been with us all the way from the beginning and I couldn’t be more pleased that you are here with us today,” Bob DeSalvio, President of Encore Boston Harbor said.

“Eight years ago the people of Massachusetts and lawmakers had the foresight to understand that with the passing of the gaming legislation, there could be the opportunity for economic development and the finest integrated resort in the region. I am here to tell you Encore Boston Harbor has achieved those goals,” Matt Maddox, CEO of Wynn Resorts said.

“For the residents of Everett, Everett United and the 86% of residents who took the time on a Saturday to vote yes to a resort in our city, this truly is an amazing day. Encore Boston Harbor is now a front door to the City of Everett. Thank you to all of the hard-working union members who participated in the construction of this project,” Everett Mayor Carlo DeMaria said.

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Gambling in the USA

GAN Welcomes the Legalization of Sports Betting in Maine

George Miller

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GAN Welcomes the Legalization of Sports Betting in Maine
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GAN plc, welcomes the signing and legalization of internet sports betting in Maine, and is the 15th State to legalize sports wagering in the US and the seventh to do so this year. Upon launch, 21% of the total US population will be able to place sports wagers online.

The sports betting bill received approval in both the House and Senate on Friday, June 21 and will go to the Governor who is expected to sign it within the next two weeks. With one of the lowest initial licence fees, the state could possibly begin issuing licenses in late September.

About GAN Plc :
GAN is a leading business-to-business (“B2B”) supplier of internet gambling software-as-a-service solutions (“SaaS”) to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming. The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino provided by GAN’s Digital Marketing Agency in Tel Aviv, Israel.

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