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MGM Growth buys Hard Rock Rocksino

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MGM Growth Properties has acquired of Cleveland’s Hard Rock Rocksino Northfield in a $1.06 billion deal.

As part of the deal, MGM Growth will inherit a 200,000-square foot casino with 2200 video lottery slot machines, along with the Northfield Park harness racetrack, from previous owner Milstein Entertainment. The REIT, an MGM Resorts spin-off, is also in the process of finalizing the acquisition of the famous Yonkers Raceway and its accompanying Empire City Casino.

MGM Growth was formed in 2016 and launched and its IPO on the New York Stock Exchange shortly afterward, raising $1.2 billion. It is 70 per cent owned by MGM Resorts International.

A real-estate investment trust (REIT) is essentially an investment vehicle formed to acquire and own properties, offering investors both large and small the chance to own shares of high-value commercial real estate.

REITs receive special tax considerations and can trade at higher stock market prices, potentially offering investors high returns.

On its formation, MGM Growth took over ten MGM Resort properties, including Mandalay Bay, The Mirage, New York-New York, Luxor, and Excalibur, which it leases back to MGM Resorts to operate.

The Hard Rock Rocksino Northfield Park will be rented to its majority owner for $50 to $60 million a year, the company has said.

The REIT model makes sense for large casino operators managing dozens of properties as a means to raise funds which can then be spent on further acquisitions.

Penn National started the ball rolling in 2013, and has since been joined by MGM and Caesars Entertainment, which created VICI Properties last year, as a way of easing its passage out of Chapter 11 bankruptcy.

MGM Growth CEO James Stewart said in an official statement on Friday he was “excited” about the first official addition to the REIT’s portfolio, which he added would bring “further geographic diversification” to the MGM brand.

“[A REIT] improves the balance sheet of MGM Resorts, it provides another growth vehicle for the company and it will…provide a different investment opportunity, as [Growth Properties] goes out and can acquire assets,” MGM Resorts CEO Jim Murren further explained about the spin-off.

Known as the “The Home of the Flying Turns” and for its motto “Every nineteen minutes the place goes crazy,” Northfield Park is the venue for the Battle for Lake Eerie, which has grown from its 1980s inception to become one of the premier events on the Free-For-All pacing calendar.

It also operates Cedar Downs, the only off-track betting parlour in Ohio.

 

Source: casino.org

Source: Latest News at European Gaming Media

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Aristocrat Licenses Hit TV Show “Billions” for New Slot Game to Premiere at G2E 2018

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Billions™ Slot Game Showing in Booth #1141

The high stakes world of the hit SHOWTIME® TV show Billions will soon be coming to casinos, thanks to a licensing agreement between Aristocrat, CBS Consumer Products, and Showtime Networks.

Aristocrat’s new Billions™ Slot Game will make its premiere in booth #1141 at the upcoming Global Gaming Expo (G2E) in Las Vegas.

“Engaging and edgy shows like Billions are incredibly fun for our design teams to work with and fuel our passion to create entertaining games for our customers and their players,” said Siobhan Lane, Senior Vice President, Marketing and Gaming Operations from Aristocrat. “The CBS Consumer Products and Showtime Networks teams have been inspiring to work with, and we are very excited to present the new Billions Slot Game at G2E 2018.”

Now in production on its fourth season, Billions stars Oscar® nominee and Emmy® and Golden Globe® winner Paul Giamatti as U.S. Attorney Chuck Rhoades and Emmy and Golden Globe winner Damian Lewis as hedge fund king Bobby “Axe” Axelrod. Billions is a complex, highly engaging drama that tells the timely and provocative story of these two powerful New York figures.

The Billions Slot Game is based on Season 1 and 2, which includes fans’ favorite characters such as Chuck RhoadesBobby AxelrodWendy RhoadesLara Axelrod, and Taylor Mason. Adding to the fun, the game will include the popular Mighty Cash™ feature, as well as a $500,000 multi-site progressive start-up jackpot.

The game appears on Aristocrat’s revolutionary flame55™ cabinet. The flame55 is complete with a 55″ double-curved HD monitor – the largest portrait double-curved display in the non-jumbo segment – ergonomic engineering, 4k-capable display, 2.1 stereo audio, individually controlled dynamic infinity edge LED lighting, a virtual button deck, and an exclusive beacon sign package.

About Aristocrat
Aristocrat Technologies Inc. is a subsidiary of Aristocrat Leisure Limited (ASX: ALL), a leading global provider of land-based and online gaming solutions. The Company is licensed by more than 200 regulators and its products and services are available in more than 90 countries around the world. Aristocrat offers a diverse range of products and services including electronic gaming machines and casino management systems. For further information, visit the company’s website at www.aristocrat-us.com.

About CBS Consumer Products
CBS Consumer Products manages worldwide licensing and merchandising for a diverse slate of television brands and series from CBS, CBS Television Studios and CBS Television Distribution, as well as from the company’s extensive library of titles, Showtime and CBS Films. Additionally, the group oversees online sales of programming merchandise. For more information, visit www.cbsconsumerproducts.com.

About SHOWTIME
Showtime Networks Inc. (SNI), a wholly-owned subsidiary of CBS Corporation, owns and operates the premium television networks SHOWTIME®, THE MOVIE CHANNEL™ and FLIX®, and also offers SHOWTIME ON DEMAND®, THE MOVIE CHANNEL™ ON DEMAND and FLIX ON DEMAND®, and the network’s authentication service SHOWTIME ANYTIME®. Showtime Digital Inc., a wholly-owned subsidiary of SNI, operates the stand-alone streaming service SHOWTIME®. SHOWTIME is currently available to subscribers via cable, DBS and telco providers, and as a stand-alone streaming service through Amazon, Apple®, Google, LG Smart TVs, Oculus Go, Roku®, Samsung and Xbox One. Consumers can also subscribe to SHOWTIME via Amazon’s Prime Video Channels, DirecTV Now, FuboTV, Hulu, Sling TV, Sony PlayStation™ Vue, and YouTube TV or on Showtime.com. SNI also manages Smithsonian Networks™, a joint venture between SNI and the Smithsonian Institution, which offers Smithsonian Channel™, and offers Smithsonian Earth™ through SN Digital LLC. SNI markets and distributes sports and entertainment events for exhibition to subscribers on a pay-per-view basis through SHOWTIME PPV. For more information, go to www.SHO.com.

Aristocrat Contact:
Paul Speirs-Hernandez, Steinbeck Communications
paul@steinbeckcommunications.com

Source: Latest News at European Gaming Media

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Industry Leading Race & Sports SuperBook® Set For Expansion Outside Nevada

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Nevada’s premier sports book will set the standard for legalized sports betting in the United States

The largest and most successful sports book in America – the SuperBook® at the Westgate Las Vegas Resort & Casino, is set to expand its gaming platform across the United States. With its best-in-class technology, customer service, and wagering options, the SuperBook® brand will guide the industry forward as more states make sports betting part of their gaming and hospitality offerings.

The expansion comes via a partnership between SuperBook® licensor Westgate Resorts and Paragon Gaming, operator of casino and resort operations for Westgate’s 3000-room luxury casino hotel in Las Vegas that brings white label sportsbook solutions to new markets.

“The SuperBook® brand has been the leader of the sports book industry for more than 30 years,” says Diana Bennett, CEO for Paragon Gaming. “Gaming regulators across the country will now have a trusted partner as they move forward, and casino operators will be able to draw on the experience and expertise that has made SuperBook® the benchmark for sports betting.”

Famous for its 360-degree experience, highlighted by the largest indoor TV in the world – a 220-foot long 4K video wall at Westgate Las Vegas, the SuperBook® brand delivers the largest race and sports wagering menu in Nevada, and continues to lead the evolution of sports betting processes and applications. Its successful rollout of the Westgate SuperBook® App has already seamlessly delivered this wagering menu to the hands of thousands of fans.

“This is the natural next step in the evolution of our industry,” says SuperBook® Executive Vice President of Race & Sports Book Operations Jay Kornegay. “We have maintained the highest levels of technology and service in a highly-regulated industry. We have written the playbook, and now we will put it in action across the national field.”

“We are excited to know that our investment in the SuperBook® has been extremely successful and this venture is now prepared to expand nationwide,” adds David Siegel, Westgate Resorts Founder, President and CEO. “We look forward to the future success of our SuperBook® brand at locations across the nation as it continues to grow and set new standards for the sports betting landscape.”

Future SuperBook® sites, turnkey sportsbook products, and gaming partners will be announced at later dates. Fans can follow SuperBook® for updates on FacebookTwitter, and Instagram.

Source: Latest News at European Gaming Media

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CashBet appoints Ed Brennan as Company President

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iGaming platform provider CashBet has moved to bolster its senior team by installing advisory board member Ed Brennan as company President.

Ed Brennan will lead CashBet in the next period of its development, following one of the world’s largest casino gaming ICOs, with the goal of establishing it as the leading blockchain-powered platform.

He brings a wealth of experience to the position after 25 years in the internet, software, hardware and financial services industries, working with a host of Fortune 500 companies such as Merrill Lynch, Seagate, Adobe, Microsoft and NexTag.

Commenting on his appointment, Brennan said: “I have enjoyed serving as an advisor to CashBet and am confident that my understanding of the business and its position in the iGaming market will help me step up to this new position as we look to grow even further.”

Even with the unforeseen challenges presented by the crypto bear market, CashBet has never been in a better position to achieve its full potential. I am honoured to begin serving as the company’s new President with guidance from the Board.”

Brennan’s appointment follows the Board of Director’s decision to begin search for a new CEO to replace Co-founder Mike Reaves.

Reaves co-founded CashBet in 2012 following a long career in online gambling. The platform he helped create is designed to encapsulate everything an operator needs to run a modern iGaming business.

Over the past five years, it has developed patented technologies and built the world’s first-crypto enabled iGaming platform, as well as becoming the first cryptocurrency partner in English Premier League history when it agreed to sponsor Arsenal Football Club.

 

About CashBet

CashBet is a leading mobile-first iGaming platform provider and turnkey operator. CashBet’s platform empowers real-money, social, and skill-based gaming apps and websites worldwide. By integrating CashBet’s software, game developers can legally launch online gambling games without needing to be licensed. With CashBet’s feature-rich platform, operators gain access to player segmentation, bonusing, campaign management, and other patent-pending features to enable a profitable iGaming operation from day one. CashBet is licensed by the Alderney Gambling Control Commission and the UK Gambling Commission. For more information, please visit www.cashbet.com.

Source: Latest News at European Gaming Media

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