From the United States to Macau, there were some important headlines in the world of casino news that broke this week. Let’s take a look at three key storylines we’ve been following:
Caesars Entertainment Gets OK To Restructure
Caesars Entertainment has received permission to restructure their business in Nevada. As you might recall, the company is going through bankruptcy proceedings so after making progress in Nevada, they will now do the same in Louisiana and Missouri. The casino-operating part of Caesars filed for Chapter 11 bankruptcy in January 2015 as they were about $18.4 billion in the hole. Then they managed to get rid of about $10 billion by coming together with a subsidiary. Their next step was to separate the property side from their gaming assets.
In Missouri, Caesars has Harrah’s North Kansas City riverboat casino, but in Louisiana, they control Harrah’s New Orleans, Horseshoe Bossier City and Louisiana Downs. When the restructuring process is finished, the casinos will be run by Caesars Entertainment Corporation and the properties will be managed by creditors.
New Competitor Enters Macau Field
There’s a fresh face on the block in Macau as a new casino has opened up for business. The Royal Dragon Casino has debuted inside the Hotel Royal Dragon, a facility of 144 rooms. It will come with 20 gaming tables, although there will be room to expand to 25 in total. The casino is being operated under a license from SJM Holding Limited.
It was created by Chan Meng Kam, who is a well-known entrepreneur in China. Chan is also known for being the brains behind the Casino Golden Dragon, which is no longer in operation, along with the Casino Taipa Square. About $186 million was needed to get the Hotel Royal Dragon off the ground.
Chan would like to build his clientele off players that play at a number of different casinos and those that used to play at the Casino Golden Dragon. Chan also said that the Macau government should open up the casino market even more as six casinos in the country have their licenses expiring in 2020. That isn’t that far away and there is no certainty that they’ll be allowed to stay open. Although the assumption is that it won’t be a problem, the Chinese government has been known to pull a wild card out of their hand at any time when it comes to gambling. Investors want to see those licenses extended long term, so that they know their money is safe.
Instant Win Gaming Partners With Pariplay
Instant Win Gaming, a British company that specializes in instant-win games, has paired with Pariplay Limited to supply them with their entire portfolio of games. Pariplay, an online gaming aggregator based out of Isle of Man, will supply games to operators that have a Tier 1 rating, for example, 888 Holdings, GVC Holdings or Jumpan Gaming Limited. Instant Win Gaming only got in the market of offering its services out in late 2016, but being able to be involved with places like 888 Holdings will really boost their profile. Instant Win Gaming is known for games like Cash Buster and Slingo, and they’re going to make a couple of games that are exclusive for Pariplay Limited.