Gambling in the USA

Banks Promised $7 Billion for Eldorado to Acquire Caesars. Then the Coronavirus Hit

Published

6 years ago

March 10, 2020

Photo Source: iol.co.za

Banks that agreed to provide over $7 billion loan to Eldorado for the acquisition of Caesars now face an uphill battle to offload the debt to investors as fears over the coronavirus outbreak wreak havoc across the travel and leisure industry.

JPMorgan Chase & Co., Credit Suisse Group AG and Macquarie Group Ltd. agreed to the financing last June. Now, with the takeover expected to close as soon as next month, the underwriters are confronting a tight window to sell bond and loan buyers on the idea of lending to a highly leveraged gaming company just as Americans cancel their vacations, casinos empty out and the conference scene grinds to a halt.

“The best comparison might be 9/11, when people were scared to fly. Now people may be scared not only to travel but also to be in a casino with thousands of people,” Gene Neavin, senior investment analyst and portfolio manager at Federated Hermes, said.

To help justify the transaction, Eldorado is banking on about $500 million of cost savings for the combined company, a number that some analysts view as optimistic. The takeover will boost the company’s debt relative to a key measure of earnings to over seven times, according to credit-rating firms, possibly leading to a downgrade.

That funding– comprising about $2.4 billion of loans to Caesars and $4.8 billion of bonds and loans for Eldorado– is the largest and riskiest to potentially emerge since financial markets began their tailspin last month.

Beyond the broader concerns over global growth that have hamstrung the junk-bond and leveraged loan markets in recent weeks, the travel and leisure sector has been hit especially hard as flying restrictions and fear of contagion prompt people to cancel business trips and delay vacations.

Eldorado Chief Executive Officer Tom Reeg called on investors to stick with the company during an earnings call on Feb. 26, arguing that the deal faces “zero risk” on the financing side.

“We feel very good about the execution that we’ll get in the credit markets. This deal is closing. It’s closing soon,” Reeg said.

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Gambling in the USA

SkillOnNet rolls out Ready Play Gaming slots in Ontario, Canada and Mexico

Published

6 days ago

June 3, 2026

Wladimir P.

skillonnet-rolls-out-ready-play-gaming-slots-in-ontario,-canada-and-mexico

SkillOnNet has launched Ready Play Gaming’s slot portfolio across Ontario, Canada and Mexico, with additional international markets planned to follow later this year.

The content is now available across SkillOnNet’s iGaming brands including PlayOJO, PlayUZU, Slingo, Mega Casino and LuckyNiki.

Titles going live include Ready Play Gaming’s Reel Jackpots series, including Reel Bingo and Reel Triple, which the studio describes as “soft slot” experiences aimed at the bingo generation.

Jani Kontturi at SkillOnNet said: “We are proud to welcome Ready Play Gaming as we continue to strengthen our global content offering with innovative and high-performing studio partners. In a crowded market, they’ve focused on building games with personality and strong entertainment value, and we believe that’s exactly the kind of content today’s players respond to.

Christoph Härtel, COO at Ready Play Gaming said: “Partnering with SkillOnNet is a major milestone for Ready Play Gaming as we continue to expand our international footprint. SkillOnNet’s strong presence in regulated markets and extensive operator network make them an ideal partner to help bring our games to even more players globally.”

The post SkillOnNet rolls out Ready Play Gaming slots in Ontario, Canada and Mexico appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Aviator

Aviator crash game launches in US via Ruby Seven’s Lucky North Casino

Published

6 days ago

June 3, 2026

Wladimir P.

aviator-crash-game-launches-in-us-via-ruby-seven’s-lucky-north-casino

Aviator has launched in the United States for the first time through Lucky North Casino, a free-to-play social casino from Ruby Seven Studios serving Delaware North casino customers across the country.

The crash game is now live on Lucky North Casino, the official app of the Lucky North Rewards program. According to the announcement, Aviator is available on Android and Apple devices, as well as on the web via LuckyNorthCasino.com.

The company said the launch is the first step in a broader US expansion plan. Aviator is currently available across all eligible US states excluding Washington, and is expected to roll out to “more than a dozen” additional retail-branded social casinos in the coming months via the Ruby Seven Studios network.

Ruby Seven Studios’ network supports nearly 50 retail casino properties across 25 US states, which the company said will extend Aviator’s reach. The release added that a demo version of Aviator had previously been accessible to US audiences through the company’s website.

The launch follows Aviator’s expansion across several markets throughout 2026, with the company pointing to increasing demand for crash-style gaming experiences globally as it broadens distribution in North America.

The post Aviator crash game launches in US via Ruby Seven’s Lucky North Casino appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

1X2 Network

1X2 Network launches iCasino content in West Virginia with Rush Street, Caesars and Fanatics

Published

6 days ago

June 3, 2026

Wladimir P.

1x2-network-launches-icasino-content-in-west-virginia-with-rush-street,-caesars-and-fanatics

1X2 Network has launched in West Virginia, marking its second regulated US market. The supplier said a first set of games went live on 3 June 2026 with Rush Street, Caesars Entertainment and Fanatics Casino.

The company entered North America in Michigan two years ago and said it is expanding US distribution off the back of performance there. 1X2 Network did not disclose commercial terms or rollout timelines by operator.

Among the initial titles going live in West Virginia are 3 Hot Chilli Peppers and 3 Porky Banks Hold and Win. The company said both games have been “ranked as top performers in North America” and are aimed at West Virginia’s “core 30-39 year old iGaming demographic.”

Kevin Reid, CEO at 1X2 Network, said: “Buoyed by the performance of our top tier titles in Michigan, we felt the time was right to step up our US expansion plans, and in Rush Street, Caesars Entertainment and Fanatics Casino, we couldn’t think of three better operators to debut our launch into West Virginia.

“Having already worked with these brands in the Great Lakes State, we’re confident that games like 3 Hot Chilli Peppers and 3 Porky Banks Hold and Win will deliver the same great results for them in West Virginia. We also have deals in the pipeline to go live with a number of other big-name operators which will further cement our presence in North America.”

The post 1X2 Network launches iCasino content in West Virginia with Rush Street, Caesars and Fanatics appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.