BIDS FOR WH BEGIN

Bidding Begins For William Hill

The start of the first round of bidding for the European assets of William Hill with favourite at the moment being Apollo Global Management starts this week, the giant buyout firm that already owns Italy’s Lottomatica.

However speculation is building that some joint venture could materialise between Entain, Betfred and 888 Holdings.

Caesars Entertainment started what is believed to be the biggest asset fight of the year when buying William Hill and stating it wanted to sell off all its European business and retain just the US facing assets.

Apollo have already done due diligence on William Hill as it was at one stage going up against Caesars for the entire William Hill business and so knows more than its competitors on the value of the business.

But shareholders at 888 Holdings want to majority family owned Shaken Family to lodge a bid for William Hill, however it is speculated that this would only be online and the retail business could be sold off to Betfred.

Analysts believe that the Entain interest will not really materialise into a serious bid as it already holds Ladbrokes and Coral retail outlets in its portfolio and would have to sell the majority off to pass competitions regulation. Flutter Entertainments hopes of floating FanDuel on the US stock market is not going to happen anytime soon observers believe with the ongoing dispute with Fox Entertainment.

Fox who has a 2% stake in Flutter say they had an agreement with Flutter to purchase a large stake in FanDuel at some 6 times it current sales of Fanduel which would mean the Fox Corporation paying around £1.6 billion.

However FanDuels main competitor DraftKings is selling its stock at 12 times the sales estimate and that is what Flutter want to sell to Fox for, which would then mean Fox would have to pay some £3.2 billion.

Fox are suing Flutter in the dispute and it is not expected to go to a judgement till late in 2022, however Flutter wants to get an investment bank on board to start the IPO process and it is finding it very difficult given the ongoing legal process.

Should neither side come to an agreement before the court ruling then Flutters hope of listing FanDuel on the US stock exchange look slim before 2023.

FanDuel Listing Hitting Delays Due To Fox

Interview with Ivan Montik

BGaming Founder

Read the interview with Ivan Montik, BGaming Founder, and Malte Mueller-Michaelis, Member of the WBC Board of Governors and Women’s Championship Chairman

BGaming knows how to bring sportthemed slots to the next level of entertainment! The WBC Ring of Riches slot, one the the latest title in the brand’s lineup, becomes more and more popular. The game was produced in association with the World Boxing Council, the most reputable boxing organisation in the world. This allowed the provider to uncover the exciting atmosphere of boxing bouts to a wide audience and show that collaboration of powerful players leads to promising results and big wins. About what boxing and gambling have in common, how did the cooperation start, and why does the game not only give impressions, but also help many people?

WBC Ring of Riches slot is the first branded slot by BGaming in association with such a reputable organization as World Boxing Council. Who came up with the idea of the collaboration? Why did you find it promising?

Ivan: It started several years ago when SOFTSWISS launched an online casino targeting martial arts amateurs. It turned into a successful brand and showed that gaming has a lot in common with sports and boxing in particular. Thanks to our partner Harald Pia, who introduced us to the representatives of the WBC, we discussed how we could possibly cooperate. Besides being the most recognized and reputable boxing association in the world, WBC is well-known for supporting various programs and foundations helping children in need worldwide. We found the idea cool and donated to WBC Cares, their charity platform. Mauricio Sulaimán, WBC president, invited me and Marina Ostrovtsova, Head of BGaming, to visit the WBC 56th Convention in Kiev in October 2018. That’s where we first discussed the idea of launching a slot game together.

Mauricio Sulaimán immediately loved the idea. Boxing and gambling have always been closely connected. Many big fights have taken place in casinos. Las Vegas is not only the capital of gambling

Ivan Montik, BGaming Founder

but also the capital of boxing. So this cooperation definitely makes sense!

What opportunities did the project open for both BGaming and WBC?

Ivan: For BGaming, it was the first experience of cooperation with such a reputable brand and it was important in terms of enhancing our business image. It also opened the opportunity to reach a huge new audience - sport fans, to learn their preferences and see how we can create a top gaming experience for them. It’s always exciting to explore new boundaries and see how many areas are out there where we can implement our expertise as premium-quality game developers. Besides, we are glad that the WBC part of revenue coming from the Ring of Riches is all donated to their charity foundation, so it’s an opportunity for BGaming to further develop our CSR program.

For WBC, the collaboration with BGaming is an opportunity to get in connection with the igaming industry and enhance online presence. Thanks to the Ring of Riches, their brand will become more recognizable among the online audience. Our software engineers and designers made sure that the new slot with its outstanding graphics and topnotch features will contribute to the WBC reputation in the most positive way.

Boxing and gambling have a lot in common. Probably that’s why the game is an explosive mix of sports excitement and entertainment. Is this what you want to convey to the audience?

more than a sport. Boxing is life and life is boxing. As Joyce Carol Oates put it: “Life is a metaphor for boxing - for one of those bouts that go on and on, round following round, jabs, missed punches, clinches, nothing determined, again the bell and again and you and your opponent so evenly matched it’s impossible to see your opponent is you.” Playing this game is like entering the ring, stepping through the ropes and standing in that spotlight. It takes the players on this unique journey. I am sure everybody who plays it will know and feel what I mean.

Ivan: It’s also about the chances to win big prizes and become part of the luxurious life. The opportunity of becoming a champion is out there for you, that’s what we wanted to convey to the audience.

What do you like most about the WBC Ring of Riches slot?

Ivan: I’m a passionate hobby boxer myself, so I really enjoy the realistic atmosphere of a boxing ring that it brings me into. It has all of the authentic elements, like the WBC belt, gloves, girls and golden cups. All the sounds are original and even Michael Buffer’s voice with his trademarked catchphrases and the recognizable announcing style is there. I hear “Let’s get ready to rumble!” and get the feeling of fighting myself. It really keeps me on the edge of my seat and I hope other players feel the same.

Malte: I can also say that the slot is full of wonderful details. The whole team did a fantastic job and the result is spot on. The graphics, the sound, the look and feel, the character of the game. It’s just an amazing experience.

How was WBC involved in the developing process?

Ivan: WBC provided all its assets, like the official images of the WBC belt and cup, as well as the original sounds. We also discussed which boxing champion’s image we should use as the main character. The choice of the legends was big: Mike Tyson, Evander Holyfield, Vitali Klitschko, or even Muhammad Ali. However, we decided to unite all champions under one roof and created an image of a mysterious fighter whose face is hidden under the hood of a boxing robe. We agreed it would leave scope for imagination and let every player see their favourite boxing idol as the game protagonist.

Malte: We were indeed in close touch to the developers throughout the process. The team was always thankful for our input and implemented all of our ideas. They did most of the work - and we were very impressed how fast and efficient they were throughout the process. Just great people to work with.

As we know, WBC aims to donate the funds from the game to the WBC Cares organization. Why did you make this decision? What areas of work do the project have?

cussed this project we saw it as a way to support our charity initiative WBC Cares. The main goals of WBC Cares are to unite the world, inspire people and fight for freedom, peace and equality. This includes projects to prevent domestic violence and drug abuse, an anti-bullying campaign and events where our World Champions visit youth centers, schools, hospitals, orphanages and gyms or help with supplies in disaster areas. As Ivan already mentioned, we presented WBC Cares to BGaming and they immediately made a donation to help us with our projects. We also have the José Sulaiman Boxers Fund which helps former athletes in desperate situations. Our slot is a good opportunity to bring attention to these initiatives and raise funds to help those who need it most.

The production of branded slots is a promising area of work for BGaming, isn’t it? What do you expect from this in the future?

Ivan: Branded slots are always good as they allow targeting specific audiences. It’s a matter of market research to define the areas or industries in which people are interested in gambling, on the one hand, and find brands that are willing to promote themselves in online casino games, on the other. BGaming never stops researching new opportunities and looking for partnerships to create exciting content devoted to specific topics. I believe that’s a good start of a win-win relationship between BGaming and WBC, and we are open for new collaboration opportunities.

What would you like to say to players who choose the WBC Ring of Riches slot?

Malte: I just hope that everybody who plays the game really enjoys it and sees all the effort we put in. Now I can say to players: “Seconds out - Round 1!”

“Barbecue Pork” Resort In Korea Delayed

Caesars Entertainment’s first ever venture into Asia with the formerly named Caesars Korea Resort Complex is still being delayed and not expected to open till at least 2025. Now called Midan City Resort Complex under new ownership with Caesars completely out of the business was supposed to be open this year with 720 rooms, a conference centre, live entertainment and a foreigners only casino.

However construction which started back in late 2017 was delayed with financing issues which led to the construction company not being paid.

But with new owners Guangzhou real estate development company R&F Properties tasked with now completing the project by early 2022, however the company has said that with the minimal amount of construction done it is highly likely the development will not be completed till 2025.

Even with this timeline the development company has yet to find a prospective casino management team to operate the casino when it is completed.

Caesars had hoped this venture would be a leading light for them in Asia as the company missed out on a casino license for Macau, however given the delay and financial issues it was earlier this year that Caesars Entertainment CEO Tom Reeg said in an investors call that: “Korea has gone, we sold it for some barbecue pork. We sold it back to our partners and have no more commitment. We’re out.” The Rank Group who operate Grosvenor casinos and Mecca bingo brands issued a trading statement on their current performance stating that at present the company is “in line with management expectations”.

Given that current COVID restrictions are impacting on business Rank said that although London is being effected more so than provincial, with trading there similar to 2019 levels, however London with the lack of tourism and the continuing travel at night is impacting to the tune of 38% lower figures.

Average weekly non gaming revenues (NGR) for the casino division totalled £5.5 million and Mecca £2.6 million which are both down on comparable 2019 figures by 17% and 20% respectively.

On the companies digital business it remarked that it expected to come in towards the same figures as in Q2 & Q3, which would be disappointing given that all other online gaming companies had posted improved numbers given the current pandemic.

Rank Group Post Trading Update