Caesars Finances Criticized By Fitch Ratings

Fitch Ratings conducted a holistic review of Caesars Entertainment’s capital structure and described this casino’s overall growth and cash flow as way below par. Caesars “waning asset worth” and meagre “impending market cap” were described as disconcerting since the operator tried to lessen its overall debt by prolonging maturity dates and purchasing back segments of debt, in the hope of reviving its company’s revenues.  According to the report Caesars Entertainment’s deficit has increased from US$23bn from $25bn since its buyout in January 2008.

Pirc a reputable corporate governance consultancy firm based in the UK requested Sportingbet’s shareholders to veto the company’s compensation details and stop two non-executive directors from being re-elected again. Investors were notified to ask for the authorization of a £100,000 to be utilised as a political costs and to thwart Nigel Payne and Sean O’Connor from being re-elected as reported by the Independent newspaper.  Pirc is of the opinion that Sportingbetbet’s board has “no autonomous representation”.

Scientific Games Corporation just started a new online gambling site for its Minnesota State Lottery which will allow players to buy subscriptions to its Powerball and Mega Millions games.

Three major distribution levels have been announced by Sportech: expand its current influence in the United Kingdom, South America and the Caribbean. Football Pools a creation by the company could be seen on Ladbrokes.com in the UK its set to go live soon all over the Caribbean and South America via Sol Mutuel in the first quarter of 2011. It will open up a new office in Chile via its Sportech Racing brand it also concluded agreements with Hipodromo Chile and Club Hipico de Santiago. It will offer pari-mutuel horseracing gambling systems and terminals to various horse racing vendors.

For the month of December Microgaming the world’s premier internet casino software provider has released four new games of which a Christmas-themed video slot “Santa’s Wild Ride”, “Caribbean Draw Poker” and “15-line slot Royal Feast”. The last game to be introduced in this group is “Premier Roulette”, it will enable players to modify table layouts and it also includes a 3D wheel zoom.

The Jackpot Capital Group just sold its GrandeVegasCasino.com site to Tigress Management, included in this business transaction as well is GrandeVegasAffiliates.com affiliate programme.