Caesars
Caesars Entertainment’s William Hill Acquisition: strategic move for the US market?
Caesars Entertainment’s offer for the William Hill acquisition, which began months ago, would see the company pay $376.15 for a single share which, according to Chairman Roger Devlin: “The William Hill board believes this is the best option for William Hill at an attractive price for shareholders”, as well as: “It recognizes the significant progress the William Hill Group has made over the last 18 months, as well as the risk and significant investment required to maximize the US opportunity given intense competition in the US and the potential for regulatory disruption in the UK and Europe”.
However, the offer needs antitrust and gaming regulatory approvals which Caesars is certain to secure.
Caesars will use existing cash, $2.0Bn of new non-recourse debt facilities, which it intends to secure against William Hill’s non-US businesses, such as on the Italian gambling market, as well as the proceeds of an equity capital raise.
Is Caesars the only bidder?
William Hill recently explained that after an initial proposal by Apollo Global Management received on August 27th, the online betting and gambling sportsbook then received another offer from Apollo, while Caesars made its own offer.
However, Caesars’ has a 20 percent stake in a joint venture struck by Eldorado Resorts with William Hill, which holds 80 percent, and has already stated that any William Hill acquisition agreement with Apollo Global Management would terminate William Hill’s rights to manage online sports betting operations through Caesars’ marketplace, retail sports betting at both Caesars’ and other casino properties in the United States.
New opportunities with the William Hill acquisition
Should Caesars be successful with the William Hill acquisition, it said it will go after improving the customer experience and maximizing the opportunity in the gaming and sports betting industry now that the US markets are opening up for the online gambling world.
Caesars also claims that a combined business with William Hill would help improve services for the U.S. customer base, increase its in-country market presence as well as provide a unified customer experience by consolidating portfolios and applications. The deal would give Caesars a great portfolio of assets and access to existing relationships with events and teams, including being the exclusive casino partner of the National Football League.
Should the William Hill acquisition prove successful, the company will also gain access to Caesars’ loyalty program, which would benefit loyal customers from both companies.
As Caesars’ Chief Executive Tom Reeg stated, the sports betting expertise of William Hill will complement Caesars’ offering, enabling the combined group to better serve their clients in the growing US sports betting and online market.
Mr. Reeg also added that they look forward to working with William Hill, and that they aim to support future growth in the US by providing customers with a comprehensive experience across all areas of gaming, sports betting and entertainment.
Reasons why the William Hill acquisition is taking so long
The reason behind the acquisition taking this long is that GMV and then HBK (at March 31 UK Scheme Court hearing) argued against the deal, and through a letter to the William Hill shareholders they stated their opposition is based upon their belief that shareholders voting on the Scheme did it without all the necessary information that would have allowed them to weigh up the whole agreement.
They also said that it is their idea that the terms of the joint venture agreement entered into between William Hill and El Dorado (now Caesars) dated 6 September 2018 were not fully disclosed by William Hill.
What are GMV’s and HBK’s claims?
HBK and GMV are claiming a lack of transparency related to the list of potential buyers for the William Hill acquisition that the US-based company could consider “restricted”. At the EGM/Court meeting, after being questioned by HBK, William Hill has revealed that there can be a maximum of six names on the list, and Caesars can replace one name every six months.
HBK mentioned that Caesars is moving to include private equity firm Apollo Global Management in this list. The Harrah’s operator has publicly warned William Hill against accepting Apollo’s offer, saying it could effectively end the U.S. deal with Caesars.
When should the agreement be finalized?
Caesars had previously hoped to complete the William Hill acquisition during the second quarter of 2021, and an update published on the 10th of March suggests this timetable should be correct.
William Hill added that Caesars expected to receive all the remaining approvals from the relevant US authorities and other gambling regulators before the end of March of 2021. They also had scheduled a Scheme Court Hearing on the 30th of March, at which the court will be asked to sanction the acquisition. The idea was that if Caesars Entertainment Inc. and William Hill satisfied all the conditions, and the court approved the deal, the acquisition was expected to be completed on the 1st of April with William Hill’s shares cancelled on the 6th of April 2021.
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Caesars
Light & Wonder rolls out TimeLink Pyramid Dawn via Lightning Box
Light & Wonder, Inc. (NASDAQ: LNW) has released TimeLink Pyramid Dawn, the first title in its new TimeLink franchise from in-house studio Lightning Box, with an exclusive rollout to Caesars customers in New Jersey, Michigan, Pennsylvania, and Ontario.
The 1024-ways slot introduces a “Perceived Persistence” mechanic and a new take on Cash on Reel Respin. In the base game, Active Rings can land on reels 0 and 6 and hold for three spins. When a Scatter Train aligns with a ring, base game respins are triggered, awarding Cash Prizes on reels 1 to 5 with a random chance for wins to repeat up to nine times. Scatter Trains may also build the Time Train Meter, which triggers the TimeLink Feature when full.
During the TimeLink Feature, players start with three spins and up to five Active Rows. Scatter Trains that land in an inactive ring activate the row and reset the counter, with Cash Prizes collected and awarded at the end. Scatter Clocks can upgrade values, while Scatter Jackpot symbols unlock the Jackpot Collection, which is played once TimeLink concludes.
The Jackpot Collection includes fixed and progressive prizes, with Mega, Grand and Major operating as progressive jackpots and Mini and Minor as fixed awards. Light & Wonder said the progressives are reseeded automatically after each win. The title also includes a Free Games feature triggered by Bonus Scatters, awarding eight Free Games with retriggers available, plus Wild 2x and Wild 3x multipliers that can combine.
Michael Maokhamphiou, Studio Director at Lightning Box, said: “TimeLink Pyramid Dawn is an exciting first step for this new franchise.
“We have built a mechanic that keeps momentum high across gameplay, while combining it with jackpots and features that add real commercial weight for our operator partners.”
The post Light & Wonder rolls out TimeLink Pyramid Dawn via Lightning Box appeared first on Americas iGaming & Sports Betting News.
BetMGM
FanDuel to Eliminate Credit Card Deposits Starting March 2
FanDuel Sportsbook will no longer accept deposits by credit cards beginning March 2, the same step DraftKings Sportsbook took in August.
FanDuel issued a statement saying this decision has been in the works.
“Over the last few months, FanDuel has been evaluating the payment methods that we offer to customers and made the decision to remove credit cards as an option for our Sportsbook, casino and racing product in the United States. This change was made to improve the deposit experience for our customers,” the sportsbook said.
Many sports bettors don’t use credit cards because they are responsible for the fees.
U.S. Sen. Elizabeth Warren of Massachusetts applauded FanDuel’s actions.
“Last week, I asked sports betting companies about Americans getting scammed by credit card companies when placing sports bets – to the tune of a $10 junk fee just to fund a $20 bet,” Warren posted on social media.
“Glad to see Fanduel take action to protect consumers from these junk fees, joining DraftKings. The rest of the industry should follow suit.”
Two notable sportsbooks with nationwide locations, BetMGM and Caesars, accept credit cards.
FanDuel also announced Jan. 22 a program called “Play with a Plan” to encourage responsible wagering. Bettors are able to track their account activity, set spending limits and establish deposit notifications.
The post FanDuel to Eliminate Credit Card Deposits Starting March 2 appeared first on Americas iGaming & Sports Betting News.
888 Holdings
SBC Summit North America: Charting New Paths in Affiliate and Marketing Success
As affiliates grapple with the challenge of higher player acquisition costs and the subsequent need to build player loyalty, SBC Summit North America will serve as the ideal platform to acquire insights into content creation strategies, brand building and the power of big data, all of which can help affiliates solidify their standing in the market.
Scheduled to take place on Wednesday, May 8, 2024, the ‘Affiliate & Marketing’ track promises engaging discussions encompassing mergers and acquisitions in the affiliate space, gamification, the rise in popularity of online influencers, artificial intelligence (AI) and customer relationship management (CRM) strategies to foster player loyalty, among other topics.
Kicking off the conference track is the panel titled ‘Affiliate Leaders Panel: Building Brands Through Content and Customization’, which will feature Andrew Garven (Head of Marketing, Covers), Rome Smith (Head of Marketing – North America, Betsson), Marcos Oliveira (Chief Operating Officer, Clever Advertising) alongside panel moderator Michael Daly (Former Chief Executive Officer, Catena Media). The panel will delve into how leading affiliates harness branding and compelling content to build unique and recognizable affiliate brands, optimize acquisition rates and strike successful operator partnerships.
The ‘Big Data at the Center: How Affiliates & Operators Can Make Sense of Their Customers Across Multiple Channels’ panel will delve into the strategic use of big data in understanding customer behavior. Experts Gil Bushkin???? (Senior Director of Interactive Marketing, betPARX), Zachary Sold (Vice-President of Marketing, Caesars), Elizabeth Lodge (Chief Marketing Officer, Winible) and panel moderator James Fox (Industry Manager, Google) will discuss big data’s role in identifying common trends in player acquisition and retention as well as profiling customer archetypes that aid in enhancing player engagement and meet operator partner expectations.
The panel ‘It’s an Influencer’s World: Charting the Success of Ambassadors, Streamers and Other Social Media Stars’ will examine the growing influence of alternative affiliate channels such as influencers, streamers and sports ambassadors. Industry luminaries Kelly Koffler (Influencer/YouTube Content Creator, Slot500Club and Beyond Blackjack), Josh Duffy (SM Influencer /YouTube Creator, Slotaholic), Jon Della Terza (Social Media Influencer/Content Creator, NJ Slot Guy), Josh Margolis (Vice-President of Marketing, Prize Picks), Grant Flannery (Head of Marketing, Rivalry) and panel moderator Lazar Miucin (Chief Executive Officer and co-founder, iGaming Advisor) will delve into the distinctive acquisition strategies and content approaches employed by influencers and examine how they can effectively collaborate with operators. Additionally, the panel will discuss adaptation strategies for traditional affiliates to capture the interest of the next generation of players.
The session panel titled ‘Affiliate Diversification: Success Strategies for the Slower Years’ will delve into innovative approaches affiliates can employ to reach new audiences. Affiliate and marketing experts Noam Klivitsky (Vice-President of US Marketing, 888 Holdings), Shmulik Segal (Chief Executive Officer, MediaTroopers) and Max Bichsel (Vice-President, Gambling.com Group) will explore such strategies while emphasizing the significance of strategic media partnerships in ensuring a strong market presence.
Attendees will also have the opportunity to expand their knowledge of the North American market through dedicated conference tracks covering leadership, sports betting, iGaming, industry and growth, compliance and regulation and payments and technology.
Additionally, the conference will include a dedicated tribal symposium, as well as two pre-day conferences; the Capital Market Forum (entry requires a separate ticket) and the Player Protection Symposium.
Purchase your ‘early bird’ ticket at the discounted price of $795 and gain access to all three days of SBC Summit North America (including the Player Protection Symposium) including the exhibition, the conference and exclusive networking parties. Additionally, operators and affiliates can apply for a free pass to the event.
You can keep up-to-date with the latest news, speakers and exhibitor additions and conference content by subscribing to the bi-weekly SBC Summit North America LinkedIn newsletter.
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