PRINCESS SALE IN ST. MAARTEN
Princess Casinos seeks buyer for St. Maarten resort and reflects on its own international and domestic ambitions Caribbean - Operations
In an interview in the Turkish press, Princess Casinos Managing Director, Güven Erarslan, stated that Princess is currently seeking a buyer for its location in St. Maarten in the Caribbean.
Speaking about the location Mr. Erarslan said: "Our resort in St. Maarten. Princess Port de Plaisance is a wonderful five-star hotel with excellent facilities and one of the biggest marinas in the whole of the Caribbean. It is a huge area with great development opportunities, for example, there is land enough for a golf course or to expand the existing hotel. However, we feel that this could be done best through a leading international chain and therefore we are looking for an investor to take over the property. With its unique location on this paradise island it is a very attractive offer and I am confident that we will find a buyer within the near future."
Expanding as to the reasons for the sale, Mr. Erarslan explained the future direction of Princess Casinos in international markets. "I would like to see Princess Casinos become the number one casino house in Europe. With the right strategies, policies and investments, I do not think that this is very far off," stated Mr. Erarslan. "Also, in the long term, our territory for investment will mainly be South America and the Far East. We have diversified in the past into
US The Cromwell Las Vegas is the Strip’s newest, dazzling property, and JCM Global has won 100 per cent of the casino’s business. The luxury standalone boutique hotel is now open and protected by JCM’s iVIZION and UBA bill validators. The drop process is managed by JCM’s ICB Intelligent Cash Box. The Cromwell is the first Las Vegas property owned by Caesars to implement ICB technology. “The Cromwell sought out the very best for its guests in room product, dining options and nightlife. Our award-winning iVIZION, UBA and ICB fit in perfectly with that mix and bring better, smarter, faster transaction solutions to the Cromwell,” said JCM Global VP of Worldwide Sales Mark Henderson.
other businesses which has proved to be a mistake. If we concentrate in the future on what we know best, we should be able to keep our competitive advantage and reach our ambitious targets. We are focused and we have the resources to make things happen."
Finally, discussing the possibility of casinos returning to Princess' home market, Turkey, Mr. Erarslan added: "The current government has made contradictory statements with regards to the casino business. It looks like they need the money, but they don't want the bad publicity that they fear might come with it. Everybody knows that this government has some fundamentalist origin. Fundamentalists traditionally are against casinos. On the other hand, it is a government that is strong enough to make things happen. We don't know what to expect, but I have to say I am not overly optimistic. Politics is not something that you can understand from the outside looking in and it certainly doesn't make sense all the time. Too many interest groups are involved. But it is a shame that at a time when all we want is to be part of Europe, we are the only country left in Europe without legalised gambling. Casino know-how is the only export Turkey has for which it has no use at home. But you never know, Turkish politicians are always good for a surprise.”
Bally and Golden Nugget ramp up systems technology setup
US Bally Technologies has expanded its partnership with Golden Nugget to become the exclusive, enterprise-wide Systems provider for Golden Nugget’s five gaming properties in the US, including its properties in Nevada, New Jersey, Mississippi, and a soon-to-be- opened casino resort in Louisiana.
In total, Bally’s systems offerings will be connected to nearly 6,400 slots and table games across four states. Additionally, Bally’s solu- tions will be customised to be integrated with the Golden Nugget “Select Club” patron-loyalty pro- gram at more than 440 restaurants nationwide, in addition to the five casino resorts. This will enable Golden Nugget to have a singular view of its patrons, no matter where they are dining or playing.
“We believe Bally’s robust tech-
nology can meet our aggressive goals moving forward and position us best to continue offering a high- end experience at our restaurants and resorts,” said Golden Nugget Chairman, CEO and Sole Shareholder Tilman Fertitta. “We are confident Bally is best suited to take our loyalty and tracking pro- grams to the next level, while con- tinuously helping us meet our rev- enue goals quickly. Bally’s fresh new lineup of game titles will also bring a new level of excitement to our casino floors.”
In addition to the Bally Systems installed at the Golden Nugget properties in Atlantic City and Biloxi, Bally will replace a com- petitor’s Systems at the Golden Nugget Las Vegas and the Golden Nugget Laughlin. Bally also plans to install its Systems at the Golden Nugget Lake Charles, which is to open in late calendar 2014.
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US – GENTING GETS THE GREEN LIGHT FROM NGCB Genting Group has been recommended for a gaming licence by the Nevada Gaming Control Board for its planned US$4bn Asian-themed resort on the Las Vegas Strip.
Genting said that Resorts World Las Vegas would use up to 85 per cent of the unfinished Echelon development and would include a 3,500-room hotel with a Chinese-theme and a 175,000 sq. ft. casino complete with Chinese façades and pagoda-style roofs. It is expected to include a replica of the Great Wall of China, a live panda exhibit and other spec- tacularly Chinese attractions. There will also be a 4,000 seat theatre and potentially a 20th Century Fox theme park.
Genting’s Chairman KT Lim said: “Our goal at Resorts World Las Vegas is to complement existing properties and bring a new and unique entertainment destination to the Las Vegas Strip. Our themed resort will cater to the high-end visitor as well as the budget-minded tourist. We will give first-time guests a new reason to visit Las Vegas and other tourists a great reason to return. This represents a big step forward for our development, and we are excited to move forward with our plans.”
US – MULTIMEDIA GAMES/POKERTEK INVESTIGATION Multimedia Games is seeking to acquire eTable company, PokerTek, at a price of US$1.35 per share in cash with the deal expected to close in the end of 2014. Mark Roberson, PokerTek’s Chief Executive Officer, said:”Combining with Multimedia Games provides our shareholders with the opportunity to receive a healthy premium for their shares and is an ideal situation for our customers, employees and other commercial partners. PokerTek and Multimedia Games share a similar operating philosophy and culture, focusing on supe- rior customer service and delivering products that generate strong returns for casino operators. As part of the Multimedia Games organisation, we believe further development of innovative products and solutions will address the growing demand for eTables from casino customers and players worldwide.”
However, the US securities litigation law firm, Brower Piven, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of PokerTek and other violations of state law by the board of directors of PokerTek relating to the proposed buyout of the company by Multimedia Games. Multimedia Games is to buy PokerTek at a price of US$1.35 per share in cash with the deal expected to close by the end of 2014. The firm’s investigation seeks to determine, among other things, whether the company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Multimedia Games is under- paying for PokerTek shares.
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