Rock Gaming is reportedly buying into an undisclosed percentage of Caesars online sector, Caesars Interactive. The price tag attached to this is an alleged $60.8 million. The reports first surfaced in Newsnet5.com and stated that an SEC filing by Rock shows that it has the option to up its shares in the company by roughly 25 percent down the road for $19.2 million as well.
“Rock Gaming is pleased to expand our relationship with the Caesars organization through an investment in Caesars Interactive Entertainment,” the company said in a prepared statement.
“Through our existing joint venture to develop full-service urban casinos in Cleveland & Cincinnati… we believe that an investment in CIE is a natural next step to align our interests & talents with Caesars.”
The latest news indicates that there is money to be made in social gaming. In Newsnet5’s opinion: “The potential is evident by looking at companies like Zynga, which offers Texas Hold™em Poker & many others on Facebook,” the station notes, pointing out that when Facebook went public earlier this year it was revealed that Zynga made up about 12 percent of the social networking giant’s revenue.
It also added that the laws governing online gambling in the U.S. are in a state of change following last year’s interpretation of the Wire Act by the Justice Department that altered its long-held view that all online wagering was illegal. The new position implies that the act applies to only sports betting.
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