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.
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.
AGS
Caesars Digital and AGS Interactive Celebrate Exclusive Omni-Channel Launch of Rakin’ Bacon Odyssey in New Jersey
Caesars becomes the first operator to bring fan-favorite slot game to ‘The Garden State’ both in-person and online
Caesars Entertainment Incorporated (NASDAQ: CZR) (Caesars) and PlayAGS Incorporated (NYSE: AGS) today celebrated the exclusive and first cross-platform launch of the thrilling new slot game Rakin’ Bacon Odyssey in New Jersey.
To commemorate the launch, well-known online gaming influencer Francine Maric – better known as ‘Lady Luck HQ’ – was on hand at Caesars Atlantic City alongside Caesars representatives to pull the lever for the ceremonial first spin unveiling the new slot now exclusively live in New Jersey for the first time on Caesars Palace Online Casino and at Caesars Atlantic City, Tropicana Atlantic City and Harrah’s Atlantic City.
“The simultaneous launch of Rakin’ Bacon Odyssey on Caesars Palace Online Casino and at our world-class destinations in Atlantic City is an example of the exciting omni-channel experience we can bring to our players,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matthew Sunderland, said. “We’ve seen how popular this game is in other jurisdictions, and we’re confident our casino players and guests in New Jersey will enjoy it. Thank you to our great partners at AGS for this exclusive launch and to ‘Lady Luck HQ’ for coming out to celebrate with us.”
‘Lady Luck HQ’ is a gambling content creator who produces unique gaming-centric content across YouTube, Facebook, Instagram and TikTok. The innovative approach to her content has led to her channels commanding the single largest online presence in gaming as the most daily viewed gambling influencer in the world.
AGS’ Rakin’ Bacon Odyssey is a brand extension of the player-favorite slot game Rakin’ Bacon, which has quickly become a fan-favorite on casino floors in select jurisdictions across North America. Its gameplay features ‘Cornsquealius’, a loveable pig cartoon adorned in a Caesar-esque laurel and white robe. The slot shines on casino floors through the popular Spectra49 cabinet by AGS with unique reel configurations of 3×5 that expand up to 6×5 during free spins with a staggering 7,776 ways to win.
In celebration of this launch, Caesars Digital is offering users 21 and older the chance to take advantage of its first omni-channel promotions linked to a new slot with entry available both in-person at Caesars destinations in Atlantic City and via the Caesars Palace Online Casino app.
“This exclusive launch illustrates the connection we’re continuing to build between our world-class destinations and our online casino platforms,” the Senior Vice-President and General Manager of Caesars Atlantic City, Karen Worman, said. “That connection is something we’re uniquely positioned to deliver to our customers and we look forward to celebrating more of these moments that bring best-in-class offerings to life across the in-person and digital experience.”
“Launching Rakin’ Bacon Odyssey with Caesars expands the stardom of our ‘golden pig’ and reflects our commitment to offering the same high-quality gaming experience to online players,” the Vice-President of Interactive for AGS, Zoe Ebling, said. “This collaboration not only aligns with our strategic vision but also showcases our ability to execute complex, omni-channel launches that set industry standards. We’re elevating the gaming experience across platforms, demonstrating our leadership in the industry and our dedication to excellence. This launch marks a significant step in delivering exceptional entertainment to players everywhere.”
Caesars Palace Online Casino launched in July of 2023 as the crown jewel of Caesars’ iGaming portfolio alongside Caesars Sportsbook & Casino, Tropicana Online Casino, Harrah’s Online Casino and WSOP. com. Those 21 and older in New Jersey, Pennsylvania, Michigan and West Virginia can now download the Caesars Palace Online Casino app on iOS and Android or visit CaesarsPalaceOnline. com to enjoy a fully immersive online casino experience with exclusive games and a true omni-channel experience complete with promotions provided by the largest casino-entertainment company in North America.
Caesars is a trailblazer in responsible gaming and remains committed to responsible gaming education and providing a safe and responsible digital experience for Caesars Palace Online Casino users. The company enforces an enhanced 21+ gaming policy that ensures Caesars Rewards accounts are only available to individuals 21 and older, where permitted by law, and Caesars Digital online platforms have tools in place to encourage responsible play.
For real-time updates on new content offerings and to join the empire of like-minded Caesars, players can engage with the Caesars Palace Online Casino social handles on X (formerly Twitter), Instagram and Facebook. Players can follow Rakin’ Bacon and the adventures of its lovable pig on Instagram and TikTok at @ Rakin.Bacon.
Since closing for more than two years due to the pandemic and damage from Hurricane Laura, the former Isle of Capri Lake Charles will officially come ashore in a brand-new, land-based build out as Horseshoe Lake Charles on Dec. 12, 2022.
The all-new 60,000-square-foot property will bring the legendary Horseshoe brand to southwest Louisiana, showcasing the ultimate gambling experience for guests, including new rooms, unmatched restaurants, and a variety of entertainment.
The new property boasts nearly 1000 slot machines and table games, as well as an official WSOP Poker Room, an all-new Caesars Sportsbook, and 253 hotel rooms designed with inspiration from local scenery. In addition to a wide palette of food and beverage outlets that will be available on day one, Horseshoe Lake Charles will bring multi-Michelin-starred chef Gordon Ramsay to the Pelican State with the opening of Gordon Ramsay Steak in mid-2023. The doors to Horseshoe Lake Charles will open for the first time at noon on Dec. 12, pending Louisiana Gaming Control Board approval. Room reservations are now available at Caesars.com.
“When we closed the Isle of Capri in 2020, we were not expecting the property to be shut down for this length of time. But we couldn’t be prouder of our team and all of the hard work they’ve put into this beautiful property. We look forward to welcoming our partners and the community to celebrate with us as we commemorate this milestone and introduce them to Horseshoe Lake Charles,” Anthony Carano, President and COO of Caesars Entertainment, said.
“The support from the Lake Charles community has been tremendous, and we can’t wait to welcome our guests back to experience our all-new resort. After being closed for more than two years, to reopen as a Horseshoe casino is the cherry on top of a pretty spectacular celebration,” Jeff Favre, SVP and General Manager of Horseshoe Lake Charles, said.
In addition to Gordon Ramsay Steak, the first Louisiana restaurant by multi-Michelin-starred chef, Gordon Ramsay, Horseshoe Lake Charles will also have a stellar culinary lineup with; Brew Brothers, the award-winning brewpub founded by the Carano family in 1995; 7 Seven Noodle Bar, a Pan-Asian inspired noodle restaurant featuring stir-fried entrees, hearty soups, sushi and an assortment of noodle dishes; and Slice Pizzeria & Pasta all open on Dec. 12.
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