Posts Tagged ‘caesars’

Big Gambling Brands Dying by Way of Netflix?

Saturday, November 22nd, 2014

CVC Capital Partners, the largest private equity firm in Europe, has recently given their vote of confidence on behalf of the online gambling industry. The private equity investors agreed to purchase a hefty controlling stake in the online gambling company, SkyBet. In fact, it was the largest purchase made by private investors in the quickly changing industry that is iGaming. At a sizable $1.25 Billion, this purchase secured for CVC Capital Partners is roughly 80% of SkyBet.

Seeded by the UK’s Sky Satellite Broadband Company (much beloved for their SKySports sector), SkyBet initially made it’s mark via online sports betting, and has since established itself in the realms of online poker and other online casino games. Having such a robust and respected private equity firm place it’s bet in favor of the company says a great deal about the shift that is taking place in general perception concerning the online gambling industry’s ability to be a thriving, dependable economic powerhouse.

This shift can be observed in multiple similar investments and partnerships that have begun to dot trade publications in recent years. For instance, when software conglomerate, Amaya, made their $4.9 billion buyout of the popular PokerStars, the credit division of the world’s largest private equity firm, Blackstone Group, backed the deal with a $1 billion credit line. This groundbreaking change in how mainstream business regards online gambling put banking heavyweights like Deutsche Bank and Barclays in the position of holding assets rooted in the online gambling industry. Not surprisingly, Amaya’s shares have enjoyed a swift upswing since.

What is of main interest here is the somewhat less hearty investment being made by private equity into the online division of the land-based casino giant, Caesars Entertainment. It has yet to be confirmed if this is a reflection on the current struggle Caesars’ finds itself in, or if it is a preference for the specialization that companies solely focused on online gambling offer. For example, which company would likely woo more investment at this point? Twitter, or a new Short form social media product created by Microsoft?

Well, it probably wouldn’t be going out on a limb to say that Twitter would win due to its advantage of having established the first product of this nature (nor ro mention the fact that all of the company’s assets are focused in that single area). This preference differs a great deal from the original predictions that land-based casinos would overwhelm the online market and take over with brand power.

Could land-based casinos go by the way of Blockbuster vs Netflix ? Luckily, given that Caesars is already working to get ahead of the curve, they are more likely to ensure their survival in a digital future. Other land-based companies do not seem to be quite as prepared. One way or another, a simple prediction to make is that as the world’s money holders become invested in the success of online gambling, the governmental resistance to the legalization of it will surely wither.

Betfair Gets Six Month Extension in NJ

Friday, October 10th, 2014

New Jersey online gambling regulators have share some developments that will keep Betfair in the fold for at least another six months. Together, Betfair and Caesars Entertainment have reached a deal that will keep the online casino software company running in the Garden State for another half year or more. The deal has already been accepted by the New Jersey Department of Gaming Enforcement.

Just under a month ago, when Trump Plaza – Betfair’s brick ’n mortar partner for online casino wagering, closed up in Atlantic City – it was largely thought that Betfair would set up shop through another Trump property in Atlantic City – the Trump Taj Mahal. After all, both properties are owned by the Trump Entertainment Resorts. Betfair even had backend facilities for online wagering set up at the Taj Mahal.

Not so fast was the case, as Trump Entertainment resorts itself went under last month. Alas, Betfair has had its eye on the ball ever since learning of potential bankruptcies with the Trump casino brand. Within a few days of that news, Betfair was dealing with Caesars.

Because licensed software providers are required to work with one of Atlantic City’s land based casinos to legally operate online sites taking real money wagers in New Jersey and because so many casino properties in Atlantic City are already online with software brands, the need to find a new home could have been a bit dicey for Betfair.

The Department of Gaming Enforcement permitted Betfair to keep a license to operate for a short period of time while seeking out a new partnership. The new deal with Caesars will give Betfair some time to work out a longterm plan for its future in the largest online casino market the US currently has to offer.

The approved extension allows Betfair to run online from Bally’s Atlantic City, which is a well known Caesars sub-brand.

Betfair is based in the UK and is a long standing, yet somewhat beleaguered brand (as of late). The UK holds one of the most highly regulated and largest online gambling markets in the world. Interestingly enough, Betfair has had its share of battles regarding revenue generation in the steady but not entirely growing New Jersey market. A partnership with an aging Trump casino brand was probably not the best situation for the brand.

This could all change if Caesars takes the brand to its consumers with a fresh, new marketing strategy. After all, Caesars online casinos are the most successful thus far in New Jersey. BetfairCasino.com brought in a mere 7% of the overall New Jersey online gambling revenue just two months ago in August, which lands at a few thousand dollars over $700,000. It’s safe to say that the online gambling industry in NJ did not save the Trump properties in its last ditch chance to stay afloat.

Betfair’s Ultimate Gaming withdrew from New Jersey previously after the fledgling Trump brand had little ability to promote it in the manner that other operators were marketing their casinos online.

Another thing to consider is Betfair’s online poker site, which is another struggling site that even uses competing software – Ongame – with Caesars own poker room. Caesars powers its more successful WSOP.com poker room using 888 software.

Will Caesars move forward with two rooms using two different software platforms? That’s anyone’s guess, as the industry waits to see how the Caesars brand actually serves it to the market, perhaps in another, more successful way.

Caesars Entertainment’s Bet Smart Recieves Accolades

Friday, August 8th, 2014

Caesars Online Casino Play Responsibly

Caesars Entertainment, whose Caesars Interactive Entertainment subsidiary is operating three online casinos within the New Jersey online gambling market (read the OCS review of Caesars New Jersey Online Casino), is continuing to garner praise with its successful Operation Bet Smart program. This year’s Responsible Gaming Education Week (RGEW), held last week, honored Caesars Entertainment for its continued efforts to support healthy gambling, online and off.

Caesars was the initial casino brand to break new ground in combating problem gambling, and in fact, has been an advocate of this topic for some 25 years, even before online casinos took off. Operation Bet Smart was created many years ago and is still working diligently to ensure Caesars players at its online casinos and brick ‘n mortar locations are safe, secure and educated properly about problem gambling.

As the computer age has inherently changed the landscape of gambling, Caesars has kept up without missing a beat where proper game play is concerned. As technology has changed, policies and programs surrounding responsible gaming have changed as well – And Caesars Entertainment strives to continue with its award winning advocacy and awareness initiatives.

In 1998, The American Gaming Association (AGA) created RGEW to promote responsible gambling across the board in order to enhance awareness about improper gambling issues within the ever changing industry. What is interesting here is that Caesars was already anchored with the pro-healthy gambling environment even before the AGA created RGEW.

Caesars Entertainment has a history of working together with the US National Council on Problem Gambling since 1995 to develop the first resources to promote healthy casino gambling. In fact, Caesars helped the Council establish utilitarian resources, such as the first phone help lines. Caesars has since been awarded by the Council many times over.

Most recently, Operation Bet Smart has morphed into a major sector of the brand, and Caesars now heavily markets its awareness brand and continues to develop new initiatives and outreach programs designed to ensure that its business practices encourage responsible casino activity.

Caesars has used Operation Bet Smart to effectively train and certify more than 200 Responsible Gaming Ambassadors (RGAs) throughout the US gambling market. In addition to Operation Bet Smart, Caesars works to combat underage gambling with Project 21. These types of advancements have come in very handy since the online casino gambling industry has evolved into a multi-billion dollar industry.

Caesars’ notable achievements regarding responsible gaming include developing the very first self-exclusion feature where online casino and land based players are able to remove themselves from the ability to gamble online or off. They have even worked with developing software that tracks unstable behavior when placing bets online. These initiatives include the policing of proper banking transactions and services.

Caesars has spent nearly $3.5 million to develop defenses within technology to enforce its innovations and has even taken to the TV screen for advocacy of proper gambling whether from home or at a casino in person.

Last week’s Responsible Gaming Education Week is the perfect platform for both consumers and casino brands to better understand the very importance of safe gambling online and at casino properties located within regulated markets.

The three online casinos in New Jersey where Caesars Interactive Entertainment hosts gambling from include the aforementioned CaesarsCasino.com, WSOP.com and HarrahsCasino.com. All three casinos online have the support of all resources regarding safe, secure and healthy gambling.

While all major casino operators have various features in place for safe gambling, success-wise, there is no relative comparison to the support of proper online or land-based play that we see from the Caesars brand. The video below says it all: