Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. This week we reflect on a further US sports agreement for MGM Resorts, South Korean casino resort developments and Caesars merger talks.
Major League Soccer has released details of its first official sports betting partnership, as MGM Resorts International deepens its footprint amongst US sports leagues, following previously announced link-ups alongside the NBA and MLB.
Lauded as a historic multi-year strategic partnership, MGM Resorts is to become the league’s first official gaming partner, with the Roar Digital joint venture, undertaken alongside GVC Holdings, named exclusive official sports betting partner of the MLS.
Under the terms of the agreement, MGM and Roar are to gain access to enhanced MLS data for fans and sports betting customers, television-visible signage for all 100+ nationally broadcast games, unique MLS-themed promotions and sweepstakes utilising MLS prizing, match footage and photography and MLS talent, alongside a host of mutually beneficial hospitality and event opportunities.
Publishing its results for 2018, Zeal Network reported an 85 per cent leap in earnings (adjusted EBIT) to €46.6m, as the company moves closer towards the completion of its acquisition of Lotto24.
Billings and revenue grew for the third consecutive year, rising six per cent to €296.3m, while revenue increased 15 per cent to €154.8m. Total operating performance was €159.7m, an increase of 13 per cent year-on-year.
Zeal also acquired a record number of new customers for the group and its partners, while significantly reducing acquisition costs. The 614,000 new registered customers is a 49 per cent year-on-year rise, while the cost per lead in the lottery betting business fell by 42 per cent in 2018.
Hong Kong headquartered New Silkroad Culturaltainment has won approval to develop a new South Korean casino, reports GGRAsia.
Set to be constructed on the island province on Jeju, whose governor gave the green-light, it allows New Silkroad subsidiary Macrolink Glorious Hill formal permission to pursue construction of the casino resort project.
Two years ago the company unveiled that it had taken control of Macrolink Glorious Hill, and stressed plans to invest money with a view to developing a resort complex at the site, which would include a large-scale casino.
Stressing last year that its stake amounted to 55 per cent of the Glorious Hill project, the company said it contained plans that would contain five-star hotels, shops, homes, an entertainment complex, healthcare facilities, a theme park and a golf course.
Furthermore, New Silkroad told the Hong Kong Stock Exchange on Friday that the Glorious Hill development promised to bring in “sustainable” revenue.
Eldorado Resorts and Caesars Entertainment are embroiled in discussions which could see a merger of the two organisations come to fruition, report various media outlets.
Reuters stresses that individuals close to the deal state that the exploration of a merger was at the early stages during the past weekend, with Caesars said to be providing certain aspects of confidential information, with Eldorado carrying out due diligence on the potential combination of the two companies.
Reno, Nevada, headquartered Eldorado are not yet thought to have submitted a binding offer for Caesars, with there also said to be no sign that such a bid is forthcoming, or that a deal is close to being successfully negotiated, both in the short and long term.
Emerging from bankruptcy two years ago, Caesars, whose portfolio encompasses the Harrah’s and Horseshoe brand, boasts 53 properties across 14 states and five countries outside of the US, with Eldorado owning and operating 26 establishments across 12 American jurisdictions.
It is hoped that should a merger of Caesars and Eldorado proceed, it would create a more formidable competitor to larger casino industry players, such as Wynn Resorts, Las Vegas Sands and MGM Resorts.