With the Nevada Gaming Commission’s recent approval of WMS’s acquisition by Scientific Games, the US based global lottery and regulated gambling industries is in its final stages of it’s $1.5 billion deal, including debt of $85 million and cash on hand of $55 million. The completion of the deal is expected this autumn, subject to the approval of gaming regulatory authorities and customary closing conditions.
Plans have been announced to retain many of the top executives. In a released statement, Scientific Games said it would create two industry groups, gaming and lottery, with much of WMS falling into the gaming division.
“We are uniting two highly complementary businesses and creating a collaborative team focused on delivering new solutions, truly innovative content, world-class technology and industry-leading services to customers around the globe.” – CEO A. Lorne Weil
Much like the approval of Scientific Games acquisition of WMS Industries, experts are predicting in a market that may already be over saturated, “growth will occur by acquisition and mergers and possibly diversification into the online world.”
Recently, gaming execs weighed in their opinions regarding the outlook of a regulated online gambling industry and it seems the market has reached its boiling point. According to Vegas, Inc. “saturation has arrived in the gaming industry.”
US states have a good chance of keeping a strategy based on a state to state game plan, and mergers like the one mentioned above is more than likely how those interested in an return on their investment will fair well in a crowded industry of players.
With the world’s largest gaming convention off and running in Las Vegas this week, the trending internet gambling topic at this years G2E 2013 is all the buzz. Hundreds of gaming manufacturers have turned out to share the latest technology that hopefully proves to be the future of the industry.
Currently 888 and Caesars joint agreement is probably one of the strongest leading partnership’s, launching the second online poker room in Nevada this month. It was announced as well that Caesars competitor Wynn will run its online gaming in New Jersey using the competitors computers at a Caesars hotel in Atlantic City.
According to researchers, over $2.5 billion was spent on illegal offshore gambling websites in 2012, with Gov. Christie’s administration estimating a first year tax revenue of $180 million and Nevada estimated between $3 and $50 million all eyes and ears are on the November deadline and the hope that compacts will determine how the states will split revenues.
As per custom to close out this edition of the Dirty Stack we live you a few words from the APCW with J. Todd’s views on “European Regulation and American Poker.”
“There are negotiations being made that are going to answer all of your questions and solve all of your problems. That’s all I can tell you right now.” – Michael Corleone