Monday, April 27, 2015

Playtech to buy trading platform TradeFX for $224 millions

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Gambling technology company Playtech Plc said it would buy a majority stake in TradeFX Ltd for 208 million euros ($224.4 million) in cash to enter the trading platform and payment services market.

Playtech will buy a 91.1 percent fully-diluted stake in TradeFX with an earn out payment of up to 250 million euros based on future performance.

The deal is expected to close in May and would immediately add to its earnings, Playtech said on Thursday.

Shares in the company were up 4.3 percent at 809.5 pence at 0727 GMT on the London Stock Exchange. ($1 = 0.9270 euros) 

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Resorts World Las Vegas will features themed casino

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Resorts World Las Vegas, set to break ground May 5, will feature a Chinese motif, complete with a Great Wall replica, an indoor water park and a live panda exhibit.

Genting Group’s branding decision is a departure from contemporary casinos of the past decade such as Wynn, Aria and the Cosmopolitan, and is instead a nod to destination-themed properties of the 1990s like Luxor, Paris and the Venetian.

“Eighty percent of visitors are repeat business, so we need to provide something new that the repeat visitor has never experienced before,”

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Amaya Gaming hopes to launch PokerStars site in New Jersey

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Canada-based Amaya Gaming, which spent $4.9 billion to acquire PokerStars last year, said Tuesday it hopes to launch an American-based PokerStars site in New Jersey by the fall.

During a conference call to discuss the company’s fourth quarter earnings, Amaya CEO David Baazov said the company, which is headquartered near Montreal, “expects to be up and running” with PokerStars in New Jersey later this year.

The company has a deal to be the online presence for Resorts Atlantic City and PokerStars has been going through the New Jersey licensing process

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Wednesday, April 22, 2015

AGS agreed to buy a rival gaming equipment company from Amaya

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Las Vegas-based slot machine manufacturer AGS agreed Monday to buy a rival gaming equipment company from Canada-based Amaya Gaming Group for $382 million.

AGS, which is owned by private equity firm Apollo Global Management, will pay $370 million in cash plus a promissory note of $12 million for Cadillac Jack, a slot machine maker headquartered in Duluth, Ga., that provides games to the Indian casino market.

Amaya, which owns PokerStars, announced last year it was seeking to sell Cadillac Jack, which has an installed base of 11,000 slot machines primarily in Alabama and Wisconsin. Amaya has owned Cadillac Jack for two years.

The transaction is expected to close later this year.

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