Rocky Mountain Gaming has signed definitive deals with Minter Holdings and G Investments, allowing it to acquire the operating assets of two major casino properties. The agreement, if approved by Colorado’s gambling regulator, would add Johnny Nolon’s Casino and Colorado Grande Casino to Rocky Mountain Gaming’s portfolio.

Johnny Nolon’s Casino is one of the original casinos in Cripple Creek. Acquiring it and the Colorado Grande Casino will allow Rocky Mountain Gaming to dominate the town’s legendary gaming district. The two properties the latter company set out to acquire have a total of 400 gaming devices and 7 hotel rooms. In addition, Colorado Grande Casino operates Maggie’s Restaurant on its premises.

For reference, both properties are managed by David Minter through Minter Holdings. Minter is the sole owner of Johnny Nolon and the majority owner of Colorado Grande’s operating assets.

Rocky Mountain Gaming is the brainchild of David D. Ross, Michael J. Gaughan III and Joseph J. Canfora and is a venture that allows them to explore gaming opportunities in the United States. The first two men have worked together for over three decades in senior management for a number of influential casino companies. Canfora, on the other hand, is a casino veteran with over four decades of experience in the gaming and hospitality industry.

Minter Is Optimistic about the Properties’ Future

Canfora commented on the new venture with Ross and Gaughan, saying that he was surprised when they first invited him to return to the Cripple Creek market. After he thought about it for a while, Canfora realized that Johnny Nolon’s and Colorado Grande present a unique opportunity to conserve the old Cripple Creek atmosphere local players love.

Ross also commented on the matter, saying that the local market has been growing fast thanks to companies like Golden Nugget. This has attracted new players to Cripple Creek, revitalizing the local industry. Ross concluded that his team hopes to capitalize on the influx of people and cater to the needs of players seeking loose slots and personal service.

David Minter also commented on the matter, saying that he is proud of Johnny Nolon’s Casino and Colorado Grande Casino’s progress over the past few years.

While other casinos were coming and going and changing owners, we were a constant in this town. I look forward to seeing what Rocky Mountain Gaming CC brings to these casinos I love so much.
David J. Minter

Speaking of Colorado, the state just published information about the performance of its sports betting industry.

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Miriam Adelson, widow of casino magnate Sheldon Adelson, is set to acquire a majority stake in the NBA’s Dallas Mavericks from tech billionaire Mark Cuban. The move comes as Miriam Adelson plans to sell $2 billion worth of stock in Las Vegas Sands, paving the way for the Adelson family to enter the realm of professional sports ownership.

Dallas Mavericks’ Valuation Skyrockets to $3.5B in Adelson Family’s Major Deal

The Adelson family has a binding purchase agreement for the Dallas Mavericks, with the franchise’s total valuation now soaring to $3.5 billion, according to reports from Bloomberg. Mark Cuban, who purchased the Mavericks in 2000 for $285 million from H. Ross Perot Jr., will retain partial ownership and continue to oversee basketball operations.

This strategic acquisition is fueled by the Adelsons’ decision to sell $2 billion in Las Vegas Sands stock, representing approximately 10% of Miriam Adelson’s holdings in the company. The family plans to use the proceeds from the stock sale, combined with available cash, to secure the majority ownership of the Dallas Mavericks, subject to customary league approvals.

Miriam Adelson, an Israeli-born physician, assumed a prominent role in leading the Adelson family following her husband’s passing in January 2021. Despite selling the flagship Venetian resort in Las Vegas last year, the family remains closely tied to the city’s landscape, owning the Las Vegas Review-Journal newspaper.

Market Reacts to Pending NBA Announcement

The NBA, Sands, and the Adelson family have not officially commented on the impending deal, but reports suggest that an announcement is imminent. Meanwhile, shares of Las Vegas Sands experienced a 3.2% decline in extended trading following the news of the stock sale.

This venture into sports ownership marks a departure from the Adelsons’ previous activities, primarily known for their involvement in the casino industry and political contributions. Miriam Adelson ranked as the fifth richest woman globally by Forbes, has recently met with political figures like Nikki Haley and former President Donald Trump.

While Miriam Adelson’s late husband, Sheldon, was a significant donor to Republican causes, the family’s foray into sports ownership signals a new chapter in their ventures. Miriam Adelson has been recognized for her philanthropic efforts, particularly those focused on improving Jewish relations in the United States.

As the Adelson family prepares to join the ranks of NBA team owners, the sports world awaits official confirmation and details regarding this groundbreaking deal that could reshape the future of the Dallas Mavericks.

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Gaming Innovation Group (GiG) has set out to acquire affiliate specialist KaFe Rocks in a new EUR 35 million (approximately $37.4 million) acquisition deal. The deal will solidify GiG Media’s position as a lead generator in the iGaming market and will expand the company’s presence in the lucrative North American casino sector.

Under the agreement, GiG will pay EUR 15 million in cash once it closes the deal. The rest of the money will be paid out in four semi-annual installments over the next two years. The latter payments will depend on certain performance targets. GiG will also pay EUR 2.5 million in shares subject to specific operational cost-saving targets.

KaFe Rocks is a major iGaming affiliate with a portfolio spanning over 15 markets. The company is behind Time2play.com and USCasinos.com, two US-oriented affiliate brands. Time2Play has been demonstrating spectacular growth, making it a valuable asset for GiG.

GiG Media remains committed to growing the acquired assets and maximizing their profitability. KaFe Rocks is expected to generate revenue of EUR 23 million in 2024 with an EBITDA margin of over 45%.

The acquisition is expected to close in December 2023 and is still subject to regulatory approvals.  

A Momentous Occasion for KaFe Rocks

Aimee Speight, a KaFe Rocks spokesperson, commented on the agreement, calling it a “momentous occasion.” He said that his team considered several buyers but was eventually persuaded to pick GiG Media because of its impressive performance.

For reference, GiG has continued to post record-breaking results for 12 quarters in a row. Speight added:

Joining GiG Media, we are optimistic about seeing Kafe Rocks business venturing into new heights.

Aimee Speight, spokesperson, KaFe Rocks

Jonas Warrer, GiG’s newly appointed chief executive officer, also commented on the agreement, expressing his desire to cement GiG as the leading casino affiliate in the industry. He said that the acquisition of KaFe Rocks “validates these goals.”

In KaFe Rocks, we’ve found a flourishing business led by an exceptionally skilled team. Their reputable affiliate assets will undoubtedly drive growth for the broader group. I eagerly await working closely with the KaFe Rocks team.

Jonas Warrer, CEO, GiG

In other news, GiG just published its Q3 results, reporting another quarter of robust revenue growth across core verticals.

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Light & Wonder, a manufacturer of gambling products, announced that it has signed a definitive agreement to acquire the remaining 17% equity interest in SciPlay that it doesn’t currently own. The two parties agreed on a price of $22.95 per share in all-cash transactions.

The move secured the approval of the board of directors of Light & Wonder, allowing it to finalize the arrangement. SciPlay’s board also approved the transaction, as advised by a special committee comprised of SciPlay’s independent directors. The committee, backed by financial and legal advisors, determined that the deal was in SciPlay’s best interest, advising the board to greenlight the transaction.

The announcement also added that the arrangement has secured the written consent of the common stock holders of SciPlay, ensuring that no additional shareholder approval is required.

The transaction should close in Q4 of 2023 and is still subject to customary closing conditions. After that, SciPlay will officially become a wholly-owned subsidiary of Light & Wonder.

The Deal Will Generate Shareholder Value

Matt Wilson, Light & Wonder’s president and chief executive officer, shared his excitement about the new deal. He said that the acquisition will bolster his company’s cross-platform strategy and will create “an even stronger and more efficient platform for growth.”

Wilson added that the companies’ combined balance sheets will provide the two parties’ teams with the flexibility they need to make further investments in the development and launch of cross-platform games. This, in turn, will generate more value for shareholders, the CEO argued.

We look forward to bringing our world-class teams together and are excited to innovate and grow as one unified company for the benefit of our employees, players and shareholders.

Matt Wilson, president & CEO, Light & Wonder

At the same time, SciPlay’s independent directors Gerald Cohen and April Henry, who also serve as co-chairs of the SciPlay Special Committee, shared a statement on the agreement. They called the transaction a “compelling opportunity” to generate value for SciPlay’s shareholders while also bringing benefits to Light & Wonder.

Our committee conducted a careful evaluation of Light & Wonder’s proposal, with the support of independent financial and legal advisors, and we believe this combination represents the best outcome for SciPlay shareholders.

Gerald Cohen and April Henry, independent directors, SciPlay

Light & Wonder, meanwhile, recently posted its inaugural ESG report, highlighting its efforts to leave a positive mark on the industry.

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French lottery operator Française des Jeux (FDJ) has made a significant move in the international gaming market with its agreement to acquire Premier Lotteries Ireland (PLI), the operator of the Irish National Lottery. The acquisition marks a strategic expansion for FDJ into the Irish gaming landscape, solidifying its position as a key player in the global lottery industry.

The Acquisition Will Elevate the Irish Lottery Experience

For FDJ, the acquisition presents an opportunity to leverage its expertise and experience in lottery operations, bringing a fresh approach and innovation to the Irish market. With a reputation as one of Europe’s leading lottery operators, the company is well-equipped to enhance the Irish National Lottery’s offerings and deliver an exceptional gaming experience to its customers.

Current Irish Lottery operator PLI recorded a GGR of €399 million in 2022, donating nearly €260 million to over 4,000 deserving causes. The new owner’s extensive experience will be instrumental in maintaining the organization’s community-focused approach and ensuring enduring relevance. FDJ chair and CEO Stéphane Pallez noted that the two companies shared a common vision, significantly aiding future integration.

FDJ… remains faithful to its recreational, responsible, and redistributive gaming model. We look forward to working together.

Stéphane Pallez, FDJ chair and CEO

The acquisition agreement will see FDJ acquire all of PLI’s assets, taking over its license to operate the Irish National Lottery until 2034. The French company has a history of success, posting impressive FY22 Results and demonstrating its capability to create balanced value in the medium term while remaining socially responsible. PLI’s acquisition should complete in H2 2023 after regulatory approval.

FDJ Acquires a Well-Established and Successful Business

The Irish National Lottery, established in 1987, has been a prominent fixture in the country’s gaming market, offering a diverse range of games and contributing to charitable causes through its funding allocation. PLI secured its 20-year operational license in 2014, rapidly modernizing the lottery to stay in touch with technological developments.

PLI has over 200 employees across 5,300 retail points and operates roughly 45 draw and instant win games. The operator’s success recently drew the attention of the Czech operator, but FDJ acted swiftly and secured the deal. Integrating such an expansive business will present short-term challenges for the French company but promises significant long-term returns.

With FDJ’s enduring commitment to innovation and responsible gaming practices, the Irish National Lottery is poised for continued growth and success, maintaining its contributions to the welfare of communities and players. The gaming industry will watch with anticipation to witness the positive impact of this strategic partnership, which promises to elevate the Irish Lottery’s offerings and solidify FDJ’s global leadership position.

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The fast-growing iGaming company, Glitnor Group, which is behind the popular business-to-business brand, Swintt, announced a new investment Monday. The company revealed that it will significantly expand its footprint in the United States by acquiring a 37.5% stake in PlayStar Gaming Group. According to Glitnor, the investment will be completed over time, enabling it to strengthen its presence in the US and at the same time, help PlayStar continue to grow.

Judging by a statement released by Glitnor, the investment will be completed through its initiative that is designed to support and invest in up-and-coming businesses called Glitnor Ventures. Additionally, Glitnor confirmed that the strategic investment in PlayStar complements its growth strategy as the company anticipates further expansion in North America this year.

It was last year in August when PlayStar entered the iGaming vertical in New Jersey and quickly became a leading operator in the state. One of the primary advantages the online casino has is the unique personalized services that are available for Garden State residents, as well as a plethora of online and offline incentives and promotions. Renowned for its localized approach, PlayStar enjoys the attention of a growing number of customers in New Jersey, while surpassing targets ahead of its anniversary in the state.

Now, thanks to the strategic investment by Glitnor, PlayStar is expected to continue growing and expand its presence further in New Jersey, as well as other states. The new collaboration will see Glitnor collaborate closely with the online casino in a move that is expected to bring benefits for the duo.

The Investment Is Expected to Help PlayStar Continue Growing

Per Hellberg, PlayStar Casino’s CEO, shared his excitement about the strategic tie-up with Glitnor. He pointed out that the company is delighted to join forces with Glitnor and predicted success for the duo. In conclusion, Hellberg noted: “With Glitnor Group’s funding and support behind us, I’m sure PlayStar will go from strength to strength in 2023 and beyond, enabling us to further cement our position as the preferred online casino in the thriving US market.”

“PlayStar is delighted for Glitnor Group’s committed investments and we believe their ongoing interest in our brand is a fitting reward for what has been a remarkable debut year for us in the New Jersey market.“

Per Hellberg, CEO at PlayStar Casino

Jörgen Nordlund, Glitnor’s co-founder, explained that the company identified PlayStar as its perfect partner for growth within the US. He explained that Glitnor’s investment in PlayStar comes after the brand’s successful launch, powered by a localized approach and unique activations. Last but not least, Hellberg said that Glitnor anticipates further growth throughout 2023.

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The global sports betting, gaming and interactive entertainment group, Entain, unveiled details regarding a new acquisition. The company said Monday it plans to acquire the specialist provider of sports modeling, forecasting and data analytics, Angstrom Sports in a deal with a maximum payment of £122 million ($160 million).

Entain said that the acquisition of Angstrom Sports has a total consideration of £81 million ($106 million). However, an additional contingent payment can boost the total consideration to a maximum of £122 million ($160 million).

This contingent payment would be payable over a period of three years upon the closing of the acquisition. Judging by Entain’s recent announcement, the takeover deal is expected to close at some point during the third quarter of this year.

Angstrom Sports is popular as a specialist in next-gen sports modeling, as well as data analysis and forecasting. The company uses simulation-based predictive modeling that helps bring forecasting capabilities and sophisticated pricing. Currently, Angstrom Sports’ offering stands out with its richness, speed and accuracy for the US betting markets and products.

The Takeover Boosts Entain’s Capabilities

The acquisition comes at a busy moment for Entain. Only recently, the company confirmed its plans to acquire STS Group, the leading Polish sports betting operator, in a deal for some £750 million ($945 million). Now, with the acquisition of Angstrom Sports, Entain seeks to further enhance its in-house capabilities. In fact, thanks to the takeover, the company strengthens its pricing and analytics capabilities for its US-facing sports betting products.

Leveraging Angstrom Sports’ innovative data-driven capabilities is expected to provide a unique advantage for Entain which the company can use for markets across the US. “Enriched in-house capabilities will provide a significantly greater number of betting opportunities, optimized parlay and in-play products as well as accelerating pricing expertise and risk management, delivering margin enhancement over the long term,” explains the company.

Sion Colley, Angstrom Sports’ CEO, said that the company is delighted to team up with Entain and supercharge the company’s offering in the US. The CEO spoke about common goals that the companies have and predicted that the collaboration will bring thrilling experiences for Entain’s customers.

“We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform.“

Jette Nygaard-Andersen, CEO at Entain

Jette Nygaard-Andersen, Entain’s CEO, was similarly excited about the new collaboration. She explained that thanks to the acquisition of Angstrom Sports, the company will power the development of its platform.

Additionally, Nygaard-Andersen highlighted the importance of leveraging price and risk management capabilities as well as next-generation forecasting. Finally, Entain’s boss predicted that the collaboration will deliver unique experiences for the company’s customers.

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The global gaming supplier that creates systems, content, and hardware connecting iconic titles across all channels has sent the proposal to the board of directors governing its social casino arm SciPlay Corporation. 

Provided the proposal will be received and accepted, SciPay would turn into Light & Wonder’s wholly-owned subsidiary. 

$20 per Share in an All-Cash Transaction

The acquisition proposal that Light & Wonder was “pleased to propose” mentions a possible merger that would see SciPlay’s shareholders, different from Light & Wonder and its subsidiaries, receiving $20 in cash per share for every SciPlay Class A common stock owned. 

This would lead to an enterprise value of $2.1 billion for the online casino arm as well as a premium of 28.5% determined on their closing stock price recorded on May 17, 2023, which was the last day of trading prior to the proposal being officially made. 

Should Light & Wonder manage to successfully acquire the remaining 17% equity interest that, at the moment, it does not own, it would pay a total of $422 million. The offer is regarded by Light & Wonder as a way of bringing its businesses together by merging their balance sheets.

At the same time, the company expects the transaction to trigger a “seamless collaboration with SciPlay” that would add more momentum to its cross-platform strategy which is always well-developed.

If it would be given the green light, the acquisition would offer more flexibility for investing cash across the enterprise, thus generating more value for shareholders. At the start of March, the company announced it recorded a 17% consolidated revenue growth for the year, which was expected to assist it with its growth plans. 

A similar Acquisition Proposal in 2021, Rejected 

The current proposal comes after the company, which is fully committed to its responsible corporate efforts, made a similar effort to acquire the rest of the outstanding shares in SciPlay in 2021. 

The proposal was withdrawn in December of that year because it met resistance from the same board of directors that is not left pondering the decision.

At the moment, Light & Wonder owns around 83% of SciPlay’s economic interest and 98% of its voting interest. 

Light & Wonder’s chief executive officer Matt Wilson explained that SciPlay’s public shareholders would benefit from a “compelling” mix of certainty, speed, and premium value. 

Wilson also explained that the company does not expect the consummation of the transaction to ask for any approvals from regulators or shareholders, in an attempt to significantly simplify and speed up the transaction. 

Light & Wonder also used the letter sent to SciPlay Corporation’s board of directors to explain that, in their capacity as a shareholder of SciPlay, they would not vote in favor of any alternative merger, sale, or different type of corporate transaction regarding SciPlay, or proceed to sell or divest any portion of its ownership interest.

At the end of April, the company announced an expansion of its OpenGaming content with Rogue Games.

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Fanatics Sportsbook, the sports betting arm of the popular sports merchandise brand, is reportedly in talks to acquire the US business of the Australian sportsbook operator PointsBet.

Sources Claim Negotiations Are Ongoing

Fanatics is in advanced negotiations to acquire the US assets and operation of troubled sportsbook operator PointsBet, including its innovative “PointsBetting” apparatus, Sports Handle reported today.

According to two separate unnamed high-level industry sources of the media, there is a high chance that a deal could be announced early next week, while a third source said that it would be surprising if there is not “quite a bit of paper” around the deal by then.

The possible acquisition of PointsBet will represent a major step for Fanatics in achieving its objective to gain market access in 12 US jurisdictions with legalized sports betting by the 2023 NFL season as part of a major plan to eventually become present in every major state with legal sports wagering.

With market access in 14 states, among which major sports wagering jurisdictions New York, Illinois, New Jersey, Michigan and Pennsylvania, and an in-house tech stack, PointsBet is viewed as a possible acquisition target by Fanatics and rumors of a possible deal for PointsBet’s US business initially surfaced in 2021.

Feeling the Heat from Competitors

Problems for PoinstBet USA began surfacing in February when the operator withdrew from launching its dedicated app in Massachusetts due to the intense competition in the US online sports wagering space dominated by DraftKings, FanDuel and BetMGM.

In April, PointsBet hired a prominent financial advisory services firm to seek a buyer for its US business, stirring rumors that it is seeking a way out of the US, and later in the month, the operator officially stated its intent to divest its US and North American business.

PointsBet also suffered from industry setbacks and had to terminate betting partnerships with the University of Maryland and the University of Colorado, following the latest update of AGA’s Responsible Marketing Gaming Code for Sports Wagering.

The operator also became embroiled in a crypto phishing scam and had to temporarily halt its email communications system after it was breached by a third-party provider which sent emails involving an unsolicited crypto offer.

Fanatics Sportsbook became operational in its second and third US jurisdiction on May 1, after launching its mobile app in Tennessee and Ohio. Until then, the brand was present with only one retail location at FedExField in Maryland, where it launched in January.

Fanatics Sportsbook is also eyeing a June launch of its mobile app in Massachusetts, where it received its online sports betting license via Plainridge Park Casino.

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Video games manufacturer SEGA Sammy Holdings Inc. submitted a €706 million ($776 million) bid to acquire mobile games developer operating out of Finland, Rovio Entertainment.

Japanese-based game company SEGA Sammy announced today that its UK subsidiary, SEGA Europe Limited, has entered into a definitive agreement and submitted a tender offer to acquire the entirety of outstanding shares and options of the mobile games developer behind Angry Birds, Rovio Entertainment, at €9.25 ($10.17) per share and €1.48 ($1.63) per option.

Haruki Satomi, president and group chief executive officer of SEGA Sammy, outlined that the takeover bid is aligned with the company’s “long-term goal to accelerate its expansion” in the high potential-bearing mobile gaming segment of the rapidly growing global gaming market.

“I feel blessed to be able to announce such a transaction with Rovio, a company that owns “Angry Birds,” which is loved across the world, and home to many skilled employees that support the company’s industry-leading mobile game development and operating capabilities,” said Satomi.

The takeover bid which was approved by the Board of Directors at SEGA Sammy during their meeting earlier today is supported by the Board of Directors at Rovio, and shareholders of 49.1% of the outstanding shares and votes of Rovio have irrevocably undertaken to accept the offer, subject to certain customary conditions.

Bringing Joy Together

Alexandre Pelletier-Normand, chief executive officer of Rovio, highlighted the power of gaming to shape modern culture as “a true mainstream phenomenon”, reminiscing on the times he had been playing Sonic the Hedgehog and later on, Angry Birds.

He also paid tribute to Rovio’s proprietary technology platform, Beacon, and its 20 years of expertise allowing development teams to create world-class GaaS products, convinced that the combination with SEGA Sammy will further the company’s mission to “Craft Joy” by bringing even more joy to its players.

“Red and Sonic the Hedgehog: two globally recognized and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC/console, and beyond, [and] combining the strengths of Rovio and SEGA presents an incredibly exciting future,” Pelletier-Normand concluded.

The acquisition will allow SEGA to accelerate growth, generate synergies between its existing businesses and Rovio’s global intellectual properties (IPs) and live-operated mobile game development capabilities to increase SEGA’s corporate value, expand both companies’ fan base, and achieve cross-platform expansion of Rovio’s IP using SEGA’s capabilities.

The tender price offers approximately a 19% premium to the share closing price on April 14, 2023, the last trading day before the offer was announced, and approximately a 17.5% premium on the three-month volume-weighted average price ending April 14, 2023.

The tender offer will commence on or around May 8, 2023, pending approval by the Finnish Financial Supervisory Authority and will be considered successful in case SEGA acquires a minimum of 90% of the outstanding shares and voting rights at Rovio.

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