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Archives 2024

Sun International Enters US$400 Million Deal to Acquire Peermont Group

by admin Games News

On 14 December 2023, a leading casino and entertainment operator Sun International reportedly entered a deal to acquire casino and hotel group Peermont in South Africa for the purchase price consideration of around R7.3 billion (US$400 million).

Unique Growth Opportunity:

As reported by News24, Sun International considers the deal a unique growth opportunity. The acquisition of Peermont group will reportedly include the flagship Emperors Palace Resort being considered a “world-class and highly cash generative” business by the operator. Sun International is thus set to add the property to its enviable portfolio that includes the iconic Sun City casino and resort in South Africa.

The company will additionally expand its foothold in the regulated South African market through the integration of the eleven Peermont group’s properties developed across South Africa and Botswana since the group’s 1995 establishment. Sun International will use these to expand its land-based portfolio but will also benefit from the Peermont’s online sports and entertainment wagering site PalaceBet which will see the company’s online reach additionally extended, as News24 reports.

Emperors Palace Asset

At the same time, the value of Sun International is reportedly already estimated at almost R11 billion (US$600 million) on the JSE. The company operates four resorts and hotels, nine urban casinos, and the SunBet online operation in South Africa. The acquisition reportedly considers Emperors Palace the main asset for the buyer as this leading gaming destination in Gauteng includes four hotels and a wide range of leisure and entertainment amenities. The property is reportedly located in the vicinity of the OR Tambo International Airport to represent a travel convenience for high rollers from abroad.

According to the source, all these assets represent the opportunities for Sun International to use the group’s hotels, resorts, and the online sports and gaming business to generate large-scale revenues. The operator reportedly said that Peermont had also established an “excellent track record in the design, development, management, ownership and operation of multifaceted integrated resorts, including hotels, casinos, convention centres, retail centres, health spars, restaurants, bars and other sport and entertainment facilities.”

Sun International Enters US$400 Million Deal to Acquire Peermont Group

CEO Anthony Leeming reportedly stated: ‘’The addition of Peermont’s land-based casinos to our portfolio, underpinned by the flagship Emperors Palace Resort, will enhance the quality of earnings and cash flow generation of the group. This is consistent with the group’s strategic intent to focus its portfolio on large urban casinos with the ability to drive value-enhancing strategies across smaller regional assets and online growth.’’

As a consequence of the announced acquisition deal, shares of Sun International slightly rose in the morning of 18 December to aggregate a total growth of 13% in 2023.

Swedish success for 1X2 Network

by admin Games News

After ending last year by signing an integration deal with independent bookmaker BetVictor Limited, online casino games and aggregator platform developer, 1X2 Network, has now begun 2019 with a bang via the release of news that its content is now available to players in Sweden.

Swedish success for 1X2 Network

Subordinate content included:

The British firm used an official Monday press release to detail that iGaming aficionados in Scandinavia’s largest nation can now enjoy its full range of online slot and table games including those developed by its 1X2Gaming and Iron Dog Studio subsidiaries alongside a plethora of virtual sports titles from associate Leap Gaming.

Multiple operators:

1X2 Network inked an agreement in October that saw content from Gamevy Incorporated integrated onto its 3PI game aggregation platform while it explained that its own titles can now be enjoyed by players located in Sweden via the locally-licensed domains from operators such as Bethard Group, Betsson AB and LeoVegas AB.

Latest success:

Kevin Reid, Chief Commercial Officer for Hove-based 1X2 Network, stated that his firm is already licensed by regulators in the United Kingdom, Colombia, Gibraltar, Malta, Italy and the Isle of Man and intends to announce the receipt of similar certifications ‘throughout the year.’ He moreover declared that entering the newly-regulated iGaming market of Sweden forms part of the developer’s ‘international expansion plans’ and comes less than two months after it was given the green light to go live in Spain.

Reid’s statement read…

“We have ambitions plans to enter core regulated markets around the world and Sweden was a top priority for us. We are thrilled to be among the first game developers to provide content to operators in the re-regulated market and look forward to playing a key role as it matures.”

Tatts Group Limited merger with Tabcorp Holdings Limited suffers setback

by admin Games News

In Australia, the proposed multi-billion-dollar merger of bookmaker Tatts Group Limited with giant rival Tabcorp Holdings Limited has reportedly been dealt a significant setback following a ruling from the nation’s highest civil court issued earlier today.

Tatts Group Limited merger with Tabcorp Holdings Limited suffers setback

According to a report from The Sydney Morning Herald newspaper, the Wednesday decision from the Federal Court of Australia was prompted by an appeal from the Australian Competition and Consumer Commission and quashed an earlier approval for the $8.8 billion deal granted by the Australian Competition Tribunal.

The pair initially agreed to merge in October of 2016 and create a new entity offering a wide range of sportsbetting, lottery, keno and gaming services. In order to make this plan a reality, the duo reportedly took the unusual step of bypassing the approval process of the Australian Competition and Consumer Commission to make their case directly to the Australian Competition Tribunal.

The newspaper reported that the Australian Competition Tribunal’s subsequent approval of the merger earlier this year came despite objections from the Australian Competition and Consumer Commission and other operators regarding the large market influence the combined entity could command.

In response, the Australian Competition and Consumer Commission reportedly asked the Federal Court of Australia for permission to conduct a “judicial review” of the approval process due to allegations that the Australian Competition Tribunal had made “reviewable errors” in its assessment of the damages any merger could cause.

Although it ruled that the reasons for its decision would not be made public for at least five days, the Federal Court of Australia reportedly “set aside” the previous approval for the merger on Wednesday and ordered the matter to be “referred back to” the Australian Competition Tribunal for consideration.

“The Australian Competition and Consumer Commission is pleased that the Full Federal Court has set aside the decision,” Rod Sims, Chairman for the Australian Competition and Consumer Commission, reportedly told the newspaper. “However, the reasons for the decision are not yet public.”

Melbourne-based Tabcorp Holdings Limited declared earlier this month that its merger with Tatts Group Limited could be completed as soon as November with the combined entity set to have a market capitalization of approximately $6.9 billion. However, The Sydney Morning Herald described today’s ruling as a “huge setback” while both firms instituted a trading halt just minutes before the judgement was delivered.

Tabcorp Holdings Limited takeover of Tatts Group Limited delayed

by admin Games News

In Australia, the national competition regulator has reportedly extended its deadline to make a final determination on the long-awaited $4.8 billion takeover of Tatts Group Limited by rival bookmaker Tabcorp Holdings Limited.

According to a report from local newspaper The Australian, the merger was due to be completed before June 13 after initially being agreed in October but a growing list of objections from other domestic operators has seen the Australian Competition Tribunal postpone its final decision by another three months with an ultimate ruling now not expected before September.

“Tabcorp Holdings Limited today announces that, as foreshadowed during its hearings last week, the Australian Competition Tribunal has confirmed that it has formally extended the period in which to make its determination on Tabcorp Holdings Limited’s application for authorization to proceed with its proposed combination with Tatts Group Limited to no later than September 10, 2017,” read a Thursday statement from Tabcorp Holdings Limited. “Tabcorp Holdings Limited and Tatts Group Limited are progressing the other government and regulatory approvals required for the transaction and working towards implementing the transaction in the third quarter of 2017.”

Melbourne-based Tabcorp Holdings Limited has a reported market capitalization of around $3 billion and operates Australia-facing brands including Sky Racing and Tab.com while having experience in the United Kingdom thanks to a partnership with The Sun newspaper. The merger would allegedly create the biggest gambling company in Australia worth around $8.2 billion and provide stiff competition to established operators such as Ladbrokes, William Hill, Unibet, and Bet365.

Tabcorp Holdings Limited reportedly explained that the three-month delay was due to the Australian Competition Tribunal needing “additional time” in order to ensure that its final determination complies with its previously-established “confidentiality regime” while the bookmaker additionally declared that a successful ruling on the proposed takeover of its Brisbane-based rival could see the body need further added period “in order to finalize the conditions prior to the formal granting of that authorization”.

Tabcorp Holdings Limited takeover of Tatts Group Limited delayed

The Most Effective Sports Betting Methods Make Use of Proven Sports Betting Units

by admin Games News

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Pragmatic Play releases new Might of Ra video slot featuring player-favorite theme

by admin Games News

A hugely popular theme among players, Ancient Egypt is the setting for Pragmatic Play‘s new online slot title, Might of Ra, which centers on the most powerful of all the Egyptian gods. The king of all the deities, Ra has the ability to bestow riches on those who brave the sun-scorched reels in this high volatility game that is “filled to the brim with extensive bonus features and modifiers.”

Available on any device, the 6-reel, 4-row grid has a return to player (RTP) high of 96.49 percent and 50 fixed paylines, with a max win of  22,500x the bet. Here, winning combinations are formed by landing at least three matching symbols from left to right on adjacent reels starting from the leftmost reel.

Symbols and features:

There are nine regular symbols including 10, J, Q, K and A card icons, which for six of a kind are worth from 2.5 to 5 times the bet while a scorpion, a flaming phoenix, a stallion and a ferocious serpent are worth 7.5 to 15 times the bet for six across a row. The all-powerful Ra serves as the game’s one and only wild symbol and appears on all reels, substituting for all symbols with the exception of the golden scarab/scatter bonus. The bonus symbol can only land on reels.

When a Ra wild symbol hits, it can randomly change into a full-reel wild, with a 3x multiplier applied to any winning combination it is part of. Wilds are also able to form combinations themselves, with a line of five worth up to 25x the bet. The bonus symbol can land on reels 2, 3, 4, or 5 and landing at least three of them triggers the extra spins feature, with players awarded 15 spins.

During extra spins, a new Ankh symbol appears, with each one collected and added to the meter located to the left of the reels, so that players can track their progress. Players trigger additional rewards when they collect at least five Ankh symbols, allowing them to level up.

Players have a chance to win up to 22,500x in the base game and extra spins feature. The feature can be retriggered if a player is able to land two, three, or four bonus symbols, awarding an additional three, six, or nine extra spins, respectively.

Popular theme:

In a company press release, Yossi Barzely, Chief Business Development Officer for Pragmatic Play, had the following to say about the new video slot…

“Filled to the brim with extensive bonus features and modifiers, Might of Ra provides players with free spins and the opportunity to trigger big wins.

“Ancient Egypt remains a very popular theme with players, and we wanted to bring something exciting and new to operators and fans alike.”

Recent business:

The new ancient Egyptian themed game follows recent releases Elemental Gems Megaways™, The Ultimate 5, and Colossal Cash Zone™, each of which is part of a portfolio of more than 200 HTML5 titles.

Mighty Ra also comes hot on the heels of the multi-product content provider’s new partnership with Argentinean firm OneBitTech.

The deal will see the Latin American platform provider supply its operator partners with Pragmatic Play’s player-favorite slots, such as Sweet Bonanza CandyLand, which transforms its 2019 hit slot Sweet Bonanza into a mega wheel-style game with two exciting bonus games, Wolf Gold, and the Greek mythology-themed title Gates of Olympus, which won the Game of the Year award at the EGR Operator Awards on November 25, 2021.

Pragmatic Play releases new Might of Ra video slot featuring player-favorite theme