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MGM Growth buys Hard Rock Rocksino

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MGM Growth buys Hard Rock RocksinoReading Time: 2 minutes

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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Betsoft Gaming Jumps Ahead in Curaçao with Jumba Bet Content Agreement

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Betsoft Gaming Jumps Ahead in Curaçao with Jumba Bet Content AgreementReading Time: 3 minutes

 

 Betsoft Gaming remains a leader in the Curaçao regulated market, signing the latest in a series of far-reaching content agreements with customer-focused casino Jumba Bet.

eement covers all Betsoft games licensed for the jurisdiction, including player favourites and cutting-edge titles from the Slots3TM series.  The partnership also provides for the integration of further content over time, allowing Jumba Bet’s players to experience new innovations in upcoming games like the genre-redefining Max Quest: Wrath of Ra.

Founded in 2016, Jumba Bet is an upbeat online casino, presenting players with a choice of more than 130 of the industry’s finest slot games, accessed through a joyful, jungle-inspired user experience.  Jumba Bet has maintained a focus on customer satisfaction from its inception, with the promise of “positive gambling mojo” backed up by personalised service available around the clock.

“Jumba Bet has built its name on brand identity and trust, and this combination has seen them become one of the fastest-growing casinos in the market” explains Annamaria Anastasi, Marketing Director for Betsoft.  “We are thrilled to be able to help Jumba Bet sustain that pace of growth, providing its players with an uncompromising experience across a broad range of different games.”

A key criterion for Jumba Bet’s choice of content provider was consistency and quality across different devices, as Jumba Bet’s Patrick Duncan explained:

“We are one of the fastest-growing casino brands, and this is in part due to our ability to offer the best and most innovative games anywhere, at any time.  In this sense, Betsoft’s suite of HTML5 content is a perfect fit for the kind of experience we want to present to our players: only the best, whatever their device.  This partnership will provide us with access to a rich library of exciting, modern games, making it a match made for success.”

 

About Betsoft Gaming:

Betsoft Gaming develops innovative casino games for desktop and mobile.  Its portfolio of more than 190 RNG titles reaches players through partnerships with many of the iGaming industry’s leading operators.  Under the SLOTS3TM banner, Betsoft is elevating players’ expectations; these cinematic, true-3D slots blend rapid, gratifying gameplay with an audio-visual excellence more typical of movies and videogames.

An early entrant to mobile gaming, Betsoft launched the ToGoTM collection in 2012.  More recently, Betsoft revealed the ShiftTM environment, which supports truly cross-platform development at the same time as increasing performance, drastically reducing file size and streamlining integration.

Casino Manager, Betsoft’s comprehensive back-office platform, rolls reporting, management, marketing, promotion, and administration into a single compelling package.

Betsoft is headquartered and licensed to operate in Malta, and holds additional licenses in Romania and Curaçao.  Contact sales@betsoft.com or visit www.betsoft.com for general information and enquiries.  For press and marketing enquiries, email press@betsoft.com.

 

About Jumba Bet:

Since launching in 2016 under the Funky Fortune brand licensed in Curaçao, Jumba Bet already has a strong following of loyal players because of their stable reputation and how easy it is to play and win at this entertainment destination.

Providing players with only the best, Jumba Bet uses Saucify, a software provider with more than 15 years’ experience who understand what it takes to create a one-of-a-kind online playing experience.

Not only boasting a selection of games that are completely different to any other operator, the casino also hosts the very exclusive and interactive Spin16 slots where the reels spin up, down, left or right to increase those winning chances.

This vibey, jungle themed casino has already established a powerful reputation of trust amongst members due to its 97% pay-out ratio. It too, has completely revolutionised gaming with their innovative and incredible selection of over 130 amazing games which are unlike anything you’ll find anywhere else.


Source: European Gaming Media

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Best Gambling secures Gambling Commission licence

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Best Gambling secures Gambling Commission licenceReading Time: 1 minute

 

Best Gambling Ltd are very pleased to announce that they have been granted an Operator’s Licence from the UK Gambling Commission.

This allows Best Gambling to provide a new platform for gambling start-ups (or scale-ups) with great product ideas and who want to operate in the UK.

Ian Beauchamp, CEO of Best Gambling, commented “Securing a Gambling Commission licence is a major achievement for the business, that, in addition with, the senior management team receiving their respective Personal Management Licenses will take us to the next level in the growth of the company. Best Gambling can now accelerate towards launching the first, of what I believe will be, an exciting and innovative range of products into the UK market.”

“We look forward to meeting with start-up / scaling enterprises and potential investors alike as we grow the business”.

 

For further information: www.bestgambling.co.uk


Source: European Gaming Media

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NetEnt beta-launches affiliate business

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NetEnt beta-launches affiliate businessReading Time: 1 minute

 

Today NetEnt announces the beta-launch of its own affiliate business. Via a brand-new games section at www.netent.com, video slot fans will now be able to try out all the NetEnt games while at the same time receive great bonus offers from operators.

The aim is to create a place where players can enjoy the complete portfolio of NetEnt games for free, while operators can offer traffic-driven bonuses to players that are interested in the full experience, playing for real money. Offers and bonuses from Leo Vegas, Casumo, Cashmio and ComeOn will be available to NetEnt fans through this beta-launch.

Working with affiliates is a proven method for operators to reach new customers in a cost-efficient way. The method is rapidly growing and has been successful in verticals like travelling and e-commerce.

Therese Hillman, CEO of NetEnt, comments: “This is both an important and natural step for us, positioning us in an attractive part of the value chain, as we continue to offer the ultimate entertainment experience. This new strategic initiative is a great way for us to strengthen our relationship with both operators and players.”

“We know that we create entertaining slot games and our brands have a strong position on the market with a lot of fans and dedicated players. Through our affiliate site we’ll be able to supply operators with traffic and provide Netent fans with great content and offers when they play our games.”

NetEnt’s affiliate business is launched alongside a brand new and innovative game section at www.netent.com. On the new site NetEnt fans can enjoy the full NetEnt portfolio, play their favorite games, find similar titles through playlists and themes and then go on to play the games they like with our secure and trustworthy affiliated operators.

 


Source: European Gaming Media

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