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MGM Growth buys Hard Rock Rocksino

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MGM Growth Properties has acquired of Cleveland’s Hard Rock Rocksino Northfield in a $1.06 billion deal.

As part of the deal, MGM Growth will inherit a 200,000-square foot casino with 2200 video lottery slot machines, along with the Northfield Park harness racetrack, from previous owner Milstein Entertainment. The REIT, an MGM Resorts spin-off, is also in the process of finalizing the acquisition of the famous Yonkers Raceway and its accompanying Empire City Casino.

MGM Growth was formed in 2016 and launched and its IPO on the New York Stock Exchange shortly afterward, raising $1.2 billion. It is 70 per cent owned by MGM Resorts International.

A real-estate investment trust (REIT) is essentially an investment vehicle formed to acquire and own properties, offering investors both large and small the chance to own shares of high-value commercial real estate.

REITs receive special tax considerations and can trade at higher stock market prices, potentially offering investors high returns.

On its formation, MGM Growth took over ten MGM Resort properties, including Mandalay Bay, The Mirage, New York-New York, Luxor, and Excalibur, which it leases back to MGM Resorts to operate.

The Hard Rock Rocksino Northfield Park will be rented to its majority owner for $50 to $60 million a year, the company has said.

The REIT model makes sense for large casino operators managing dozens of properties as a means to raise funds which can then be spent on further acquisitions.

Penn National started the ball rolling in 2013, and has since been joined by MGM and Caesars Entertainment, which created VICI Properties last year, as a way of easing its passage out of Chapter 11 bankruptcy.

MGM Growth CEO James Stewart said in an official statement on Friday he was “excited” about the first official addition to the REIT’s portfolio, which he added would bring “further geographic diversification” to the MGM brand.

“[A REIT] improves the balance sheet of MGM Resorts, it provides another growth vehicle for the company and it will…provide a different investment opportunity, as [Growth Properties] goes out and can acquire assets,” MGM Resorts CEO Jim Murren further explained about the spin-off.

Known as the “The Home of the Flying Turns” and for its motto “Every nineteen minutes the place goes crazy,” Northfield Park is the venue for the Battle for Lake Eerie, which has grown from its 1980s inception to become one of the premier events on the Free-For-All pacing calendar.

It also operates Cedar Downs, the only off-track betting parlour in Ohio.

 

Source: casino.org


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Viva Las Vegas, the new video slot by Red Rake Gaming!

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Viva Las Vegas, the new video slot by Red Rake Gaming!Reading Time: 1 minute

 

The game developer based in Valencia (Spain) has launched a new 5×4 reel video slot where music, fun and entertainment are the real stars of the show.

With this new launch, Red Rake Gaming aims to give players the genuine Las Vegas atmosphere. Lively music that just makes you want to sit down, play and enjoy. An attractive design and a seemingly endless string of incredible prizes make for maximum gameplay enjoyment.

This new video slot adds an original bonus feature with its heart gauge sidebar where players will receive free spins when achieving 4 or more straight respins, as well as having the opportunity to multiply their prizes.

During the Free Spins Bonus feature, the featured “Viva Las Vegas” symbols – inspired by the legendary sign welcoming visitors to the city – will operate as Wilds, offering even more prizes in turn.

Come, enjoy and remember… Anything can happen in VIVA LAS VEGAS!


Source: Latest News on European Gaming Media Network

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BetConstruct brings its latest enhancements to G2E Vegas

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BetConstruct travels to the byword of gambling and entertainment, Las Vegas, to impress all the top figures and decision makers of the industry in the US with its market-leading products.
As the doors open up for online sports wagering in the United States, BetConstruct joins G2E Vegas, a critical event for all companies in the igaming industry. This year at Stand 4818 we are proud to show an even wider line-up of our products which have not been featured in the US in the past.

“The key for BetConstruct at G2E is to show the immense capabilities of our products and our team and to show our commitment to the US market,” comments Jonathan Aiwazian, BetConstruct Regional Director in the US. “We are looking to make big moves in the US market for the rest of 2018 and into 2019, and the plan is to use G2E to ignite some of these plans. With all the leaders in the industry in one place, we will look to exchange ideas and strengthen our path forward.”

Due to the recent changes in the US legal landscape and the intense demand by land-based casinos to get their hands on sportsbook technology, Sportsbook is in the center of the attention. BetConstruct being a veteran in the European sports betting market, will eagerly show off its new American view of Sportsbook tailor specifically for the market.

With our huge library of live match betting choices, we are looking to educate the US market on the excitement of in-game betting, which has become so popular outside the country.

Live Casino have also shown to be quite popular in the states. We look forward to display our Live Studio solution featuring real-life croupier as it presents an amazing opportunity to unearth new players and new revenues. So does our Fantasy Sports software which met a huge appeal during World Cup 2018 enhanced with Tournaments mode and redesigned interface.

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iSoftBet partners up with Betsoft

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iSoftBet continues to position itself as a market-leading casino content provider with another major games developer integration.

The company’s Game Aggregation Platform (GAP), which already boasts over 2,000 titles from 35+ providers, will now see the likes of Stampede, Legend of the Nile, SugarPop! and recently launched Dragon Kings added to its offering following the integration of the complete suite of Betsoft games.

The integration means operators on GAP can access even more blockbuster content across desktop and mobile, and distribute a wider portfolio content among their players in regulated markets such as Romania and Italy.

Michael Probert, Chief Commercial Officer at iSoftBet, said: “As we continue to strive to build a large, high quality network of games provider partners, it was imperative that a deal be struck between iSoftBet and BetSsoft.

“Our operators in Italy and Romania particularly have been awaiting this partnership and we’re excited to be able to provide them with the Betsoft suite of games via GAP.”

Annamaria Anastasi, Marketing Director at Betsoft, said: “This is an exciting development for all concerned. We are delighted to be delivering our games to operators via iSoftBet’s Game Aggregation Platform.

“This opens up new doors for Betsoft as we continue to expand into new markets around the world. With our newly acquired Romanian license and continuous growth in Italy, this partnership made perfect sense.”

Alongside its popular Game Aggregation Platform, iSoftBet has built a formidable reputation for designing and developing some of the most popular original and branded slots and table games in the market.

The supplier’s latest release, Hot Spin, has been a major success with operators and players alike and is available for all key regulated markets including the U.K., Portugal, Romania, Denmark and Lithuania.


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