Penn National Acquires Pinnacle Ent. NORTH AMERICA
Le gouvernement letton cherche actuellement à profiter de l'engouement du pays pour les jeux d'argent en ligne en augmentant le prix des licences. Les opérateurs devront toutefois dorénavant payer au nombre de licences et non plus au nombre de tables qu'ils possèdent. Le tarif, qui prendra effet dès le début de la nouvelle année, passera de 11 700 € à 400 000 € (475 900 dollars) par an.
L'Irlande du Nord envisage de nouveau d'ouvrir des casinos ; la mairie de la ville de Belfast mène actuellement une consultation publique relative à l'ouverture d'un casino de 300 millions de livres sterling.
Caesars Entertainment vient d'annoncer la signature de plusieurs contrats de vente et de cession-bail définitifs des bâtiments du Harrah Las Vegas au groupe VICI Properties. Dans le cadre de ces accords, un nouveau centre de con- grès de 28 000 mètres carrés verra également le jour.
Les tribus des territoires des Mashantucket Pequot et des Mohegans viennent de s'associer à l'état du Connecticut pour poursuivre le ministère de l'intérieur en justice suite à la non prise en compte des amendements aux contrats existants signés respectivement par les trois parties et les liant à l'état du Connecticut.
À la lumière des récentes spéculations du marché, Penn National Gaming a confirmé être dans une phase de discussion relative à un éventuel partenariat dans lequel Penn National acquerrait Pinnacle en échange d'un paiement en numéraire et en actions.
Le Planet Hollywood Resort & Casino vient de terminer sa rénovation de 100 millions de dol- lars US et propose des attractions interactives, plusieurs restaurants et 2496 nouvelles cham- bres et suites. Cette rénovation intervient tandis que le complexe fête ses 10 bougies, au centre du Las Vegas Strip.
Aristocrat Leisure est en train d'acquérir l'entreprise de jeux Big Fish Games pour la somme de 990 millions de dollars US en numéraire auprès de Churchill Downs, un éditeur de jeux d'envergure mondiale spécialisé dans trois branches d'activité qui touchent des secteurs spécifiques du jeu, notamment les jeux de casinos et les jeux d'argent en réseau ainsi que les jeux payants Premium.
Silver Heritage ouvrira son espace de jeux au Tiger Palace Resort Bhairahawa suite à l'annonce faite par le ministère de la culture, du tourisme et de l'aviation civile du Népal (MOCTCA) qui vient de classer l'hôtel du complexe en hôtel cinq étoiles.
Le géant des machines à sous australien, Aristocrat Leisure, a enregistré des bénéfices records pour son exercice qui a pris fin au 30 sep- tembre 2017, avec une augmentation de revenus de 15,3 % pour atteindre 2,45 milliards de dollars australiens et une hausse de 24,2 % de son BAIIA pour atteindre le plafond de 1 milliard de dollars australiens.
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Penn National is buying its Vegas-based gaming competitor, Pinnacle Gaming, for $2.8bn, with several casinos to be sold to Boyd Gaming as part of the deal
Having suggested a very polite ‘business combination’ with rival US-based operator, Pinnacle Entertainment, Penn National buys the company for US$2.8bn
PHILADELPHIA CASINO OPERATIONS
Penn National Gaming, owner of nearly 30 gaming facilities in the US, will expand its holdings in its home state and beyond with the $2.8bn purchase of its Las Vegas-based competitor. Pinnacle Gaming has 16 casino and gaming locations around the country including Te Meadows in Washington, Pa.
Te $2.8bn cash and stock transaction means that Pinnacle shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share. Penn National already has 29 facilities in at least 17 states plus Ontario, Canada – totaling more than 26,000 gaming machines, 820 table games and 4,800 hotel rooms.
As part of the agreement, four of Pinnacle's casinos – Ameristar Kansas City and Ameristar St. Charles in Missouri; Belterra Casino Resort in Indiana; and Belterra Park in Ohio – are going to Vegas-based Boyd Gaming Corp. for $575m in cash, while the remaining dozen will
Nevada
Sega Sammy Creation has been granted a manufacturer license and distributor licenses for the manufacture, sale and distribution of gaming machines in Nevada. Te approvals were made on December 1 and followed investigations and hearings by the Nevada Gaming Control Board and the Nevada Gaming Commission. Sega Sammy Creation, who develops, manufactures and sells gaming machines, applied for a license in Nevada to expand into North America, the world's largest gaming machine market, in order to increase its Asia-centric business. It said it would now apply for inspection of its gaming machines by the relevant institutions and would develop its sales structures, aiming to begin introducing its products in FY ending March 2019. Te company said it would move forward with procedures to acquire licenses in other regions to expand its distribution area, but at this time the impact of this license acquisition on this fiscal year's results is expected to be minor
go to Penn National. Te acquisition will make for "a more efficient" company, according to Penn National CEO Timothy J. Wilmott, since the Berks County-based casino owner will then operate 41 properties that have 53,500 slots, 1,300 tables and 8,300 hotel rooms.
"Going forward, we will have the financial and operational flexibility to further execute on our strategic objectives, while maintaining our track record of industry-leading profit margins and generating significant cash flow to reduce leverage over time," Wilmott said in a statement.
Shareholders still need to approve the transaction, which the companies said is expected to close in the second half of 2018.
Gaming and Leisure Properties, which owns the physical casino locations, has amended its lease agreement with Pinnacle to allow for the divesture.
Canada Crane Co. to acquire Crane Currency for $800m
Crane Co., a diversified manufacturer of highly engineered industrial products, announced that it has signed an agreement to purchase 100 per cent of the equity interests in Crane & Co., (Crane Currency) from private equity firm Lindsay Goldberg, members of the Crane family, and other shareholders, for $800m on a cash free and debt free basis.
Founded in 1801, Crane Currency is a pioneer in advanced micro-optic security technology, and a fully integrated supplier of secure and highly engineered banknotes for central banks all over the world. Te purchase price represents approximately 8.5x Crane Currency’s estimated 2017 adjusted EBITDA of $94m.
Max Mitchell, President and CEO of Crane Co., said: “We are extremely excited to announce this transaction, which will be Crane Co.’s second largest ever, and brings together two companies with nearly 380 years of combined history. Crane Currency is the fastest growing, fully integrated
global currency provider in the growing global banknote supply and security industry. Making it part of Crane Co. is a logical extension of our expanding presence in the currency and payment markets. Our combined businesses will be able to offer end-to-end currency and security solutions, from substrate manufacturing and banknote design and printing to micro- optics and banknote validation."
Crane Currency is expected to have 2017 sales of approximately $500m with adjusted EBITDA of $94m. Excluding Special Items, the acquisition is expected to be accretive to EPS by $0.15 in the first full year post-closing, increasing to approximately $1.00 by 2021.
Mr. Mitchell continued: "Tis transaction meets all of Crane Co.'s strategic and financial criteria for acquisitions, and we believe it provides us a path to greater than 10 per cent adjusted EPS growth annually for the next several years." Te purchase is contingent upon regulatory approvals.
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