Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. This week’s edition looks at a potential takeover, US sports betting developments and history made regarding the NFL and NBA.
Harrah’s New Orleans unveiled a duo of “landmark” partnerships, after becoming the official casino partner of the NFL’s and NBA’s Saints and Pelicans.
Becoming the first land-based entity to finalise an agreement with a franchise of both leagues, the multi-year partnership is said to unite “three notable New Orleans entertainment brands,” and is to provide “unique opportunities for Harrah’s to bring the Saints and Pelicans experience to life”.
Via its link-up with the Mercedes-Benz Superdome based Saints, Harrah’s is to develop a series of customers experience, in-games features and have a branded area on site dedicated to the franchise, whilst also being designated as an official post-game destination.
Dennis Lauscha, New Orleans Saints and Pelicans president, said of the new link-up: “We are proud to align ourselves with a brand such as Harrah’s New Orleans casino, that is an industry leader not only nationally but on a local level as well.
“Located in the heart of downtown New Orleans, Harrah’s vision for development and commitment to the city mirror that of the Saints and Pelicans, and we could not be happier about this partnership.”
Swedish gaming group Cherry is the subject of a €893m takeover bid from a consortium that includes current chairman Morten Klein and Betsson CEO Pontus Lindwall.
Cherry’s Independent Bid Committee – set up specifically to consider the bid on the board’s behalf but excluding chairman Klein – has recommended shareholders accept the public offer of SEK87 (€8.46) in cash per share submitted by European Entertainment Intressenter BidCo.
The Independent Bid Committee consisting of Gunnar Lind, Johan Moazed and Jörgen Olsson was established on October 16. Rolf Åkerlind was elected to the board of directors on November 21 and has since joined the bid committee.
The Independent Bid Committee’s recommendation highlighted a number of considerations in connection with the offer, notably that the bid represents a premium of 20 per cent compared to the closing price of Cherry’s series B shares on Nasdaq Stockholm on December 17, the last trading day before the announcement of the offer.
The offer also corresponds to a premium of 28 per cent compared to the volume-weighted average share price of Cherry’s series B shares on Nasdaq Stockholm during the last 90 trading days and 59.6 per cent compared to the closing price on October 15, the day before the board received the written offer.
The committee also stressed that several of those individuals in the consortium “have a long ownership history and deep understanding of the company’s operations and future prospects”.
DraftKings has announced the launch of its second online sportsbook, unveiling a new agreement with an affiliate of Hollywood Casino at Charles Town Races operator Penn National Gaming in West Virginia.
The Mountain State became the fifth territory to legalise sports betting earlier this year, behind Nevada, Delaware, New Jersey and Mississippi,
DraftKings states that its sportsbook is to offer “a superior and engaging online sports betting experience,” including live and in-game betting, alongside the opportunity to wager on major and niche international and US sports.
Matt Kalish, chief revenue officer and co-founder of DraftKings, explained: “We are thrilled to work with Penn National Gaming to bring our online sportsbook product to West Virginia. We look forward to serving sports fans in the Mountain State, and building on the immense success we have had in leading the New Jersey market.
“With over 90 percent of sports bettors returning to play after trying DraftKings Sportsbook, we are confident we can deliver on being the best place to play for West Virginia consumers.”
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