Canada
Eastern Band of Cherokees’ Business Arm Gets Tribal Approval to Bid for Two New Casinos Out of NC
EBCI Holdings, the business arm of North Carolina-based tribe Eastern Band of Cherokee Indians, is set to bid on an opportunity to build two new out-of-state casinos. The plan was approved by Tribal Council by an 8-2 vote last Wednesday.
The resolution outlines a “new business and investment opportunity” referred to as “Project Thoroughbred,” in which EBCI Holdings would make an investment of $25 million for an equity stake of approximately 44% in expanded commercial gaming interests.
Should EBCI Holdings be selected as the winning bidder, it will make a deposit from its own accounts of about $2.5 million. Then the tribe would provide $25 million from its endowment and investment accounts – plus or minus 10% – “all or a portion of which will be contributed or otherwise invested, directly or indirectly, in the project”.
The total cost of the project is estimated at $90 million and would involve building and owning two new casinos. EBCI Holdings intends to obtain about $62 million in debt financing, guaranteed by the tribe. Many details are yet to be unveiled, such as a revenue allocation plan.
“It allows us to go into a new state with a gaming property under a partnership agreement so the tribe’s not on the hook 100%. We will actually have a 44% equity stake,” Cory Blankenship, EBCI Secretary of Finance and a board member of EBCI Holdings, said.
The plan was approved through a special session “due to the short time between when EBCI Holdings first learned of the opportunity and the impending deadline for submitting a bid”. Blankenship described the project as “a good opportunity” to develop two gaming properties in a new jurisdiction at a “relatively low cost of entry.”
“We’re not the only ones seeking this opportunity, but it appears that we are in the lead because of the reputation of the Eastern Band and because we have a 30-year track record of being responsible in this industry. I think that we’ve got a really good shot at this, and it is time-sensitive,” Cory Blankenship said.
Powered by WPeMatico
Acquisitions/Merger
Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey
Great Canadian Entertainment and the SE-MI-AH-MU Development Corporation, the economic development arm of Semiahmoo First Nation (SE-MI-AH-MU) announced that they have entered into a definitive agreement for the purchase by SE-MI-AH-MU from Great Canadian of Elements Casino Surrey.
Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to financial commitments, customary closing conditions as well as customary approvals by the regulatory authorities and the City of Surrey, which owns the underlying real property at Elements Casino Surrey. Under the terms of the definitive agreement, the Company will provide transition services to SE-MI-AH-MU for up to one year post-closing.
“Today’s announcement marks the eighth agreement we have executed with B.C.-based First Nations for the sale of our B.C. operations. We are thrilled that the Semiahmoo First Nation is eager to enter the province’s casino sector with the purchase of Elements Casino Surrey. Our next step will be to continue to work with the SE-MI-AH-MU team to timely close this transaction and then work with SE-MI-AH-MU and the Elements Casino Surrey team members for long term success,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“This acquisition represents an important step forward in strengthening economic opportunity for Semiahmoo First Nation and reaffirming our presence within our traditional territory as a strong and capable business entity. Through this new venture, we look forward to creating meaningful benefits for our people, supporting employment opportunities in the region, and contributing to the long-term well-being and prosperity of our community,” said Chief Harley Chappell of Semiahmoo First Nation.
McMillan is serving as legal counsel to Great Canadian and Munnings Law is serving as legal counsel to SE-MI-AH-MU.
The post Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey appeared first on Americas iGaming & Sports Betting News.
Canada
Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market
Wazdan, the top developer focused on gaming, has initiated its collaboration with Green Brick Labs (GBL) following the launch of several of its titles with Maverick Games, the well-known operator based in Ontario.
The agreement entails an initial selection of Wazdan’s best-performing titles being launched with Maverick Games through an integration from GBL’s seamless aggregation platform, featuring Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition, and Mighty Wild
: Gorilla.
After Wazdan’s recently disclosed alliance with GBL, the quickly developing North American platform provider, the partnership has now made significant progress by launching with Maverick Games, featuring its extensive slot collection and sportsbook services.
Wazdan’s captivating games and interaction-enhancing features, such as Cash to Infinity
, Sticky to Infinity
, and the Hold the Jackpot
bonus game, are poised to enhance Maverick Games’ collection as it aims for greater growth across North America.
Wazdan’s newest collaboration highlights the studio’s goal to further establish itself in regulated iGaming markets globally, offering players cutting-edge slot experiences.
Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.
“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”
James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.
“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”
The post Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Canada
Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach
Wazdan, the leading-gain focused developer, has launched its partnership with Green Brick Labs (GBL) after taking a series of its titles live with Maverick Games, the established Ontario-based operator.
The deal will see an initial pool of Wazdan’s top-performing releases launch with Maverick Games via an integration from GBL’s seamless aggregation platform, including Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition and Mighty Wild
: Gorilla.
Following Wazdan’s recently announced partnership with GBL, the rapidly emerging North American platform provider, the collaboration has now taken its first major steps after going live with Maverick Games with its comprehensive slot portfolio and sportsbook offering.
Wazdan’s immersive titles and engagement-boosting mechanics, featuring the likes of Cash to Infinity
, Sticky to Infinity
and the Hold the Jackpot
bonus game, are set to further elevate Maverick Games’ portfolio as it seeks increased expansion throughout North America.
Wazdan’s latest partnership underlines the studio’s ambitions of continuing to gain ground in regulated iGaming territories worldwide, providing players with state-of-the-art slot experiences.
Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.
“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”
James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.
“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”
The post Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach appeared first on Americas iGaming & Sports Betting News.
-
ELA Games7 days ago“Patrick’s Treasure Pots”: Hunt for the Pot of Gold in ELA Games’ Celtic Adventure
-
Andrzej Hyla Chief Commercial Officer at Wazdan7 days agoFisherman’s Luck™ Gains Exciting Gainer™ Mechanic from Wazdan
-
HAPPY MONEY HENS7 days agoINSPIRED UNVEILS HAPPY MONEY HENS™, GOLDEN WINNER GRAND CHANCE SUPER WHEEL™ & GOLD CASH FREE SPINS RISING WINS™ ACROSS ONLINE & MOBILE
-
Bragg Gaming Group7 days agoBragg Strengthens Executive Team for Enhanced Content Strategy, North American Growth, and AI-First Transformation
-
Latest News7 days agoNorwegian Football and Norsk Tipping Extend Their Cooperation
-
Compliance Updates6 days agoArizona Division of Problem Gambling and the Arizona Lottery / Recognize March as Problem Gambling Awareness Month
-
apuestas6 days agoExpansión de los VLT en Brasil y crecimiento del sector hotelero
-
Compliance Updates7 days agoIsle of Man Govt Publishes its National Risk Assessment (NRA) Covering Money Laundering Risk in Gambling Sector



