Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand

Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand

If you bet that the $1.5 billion acquisition of slot machine manufacturer WMS Industries by Scientific Games Corporation would increase New York-based Scientific’s road cred on Wall Street, please step ahead: ding ding ding, we have a winner! The buyout is expected to create both WMS and Scientific Games in the neighbor hood of $100 million in complementary cost-savings between the two merged companies, and that is making investors’ ears perk up.

Lottery Satisfies Slots

Scientific has been on the lookout for the video slot maker for awhile now; the company provides lottery systems plus the equipment to run the same to numerous American states, Canadian provinces and even some foreign countries. Don’t rely on Nevada being one of those though; not gonna happen.

For WMS stockholders, life is great; Scientific Games shelled down $26 per WMS share, that was roughly 59 percent over just what the slot manufacturer closed at back on Jan. 31 of this season.

‘We carry on to grow more comfortable with the pending WMS acquisition from both a fundamental and more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at an investor meeting that is recent.

Gaming Platforms Will Benefit Lottery Customers

And although Nevada may not be getting a state lottery anytime soon, Scientific can nevertheless make good use of WMS’ social- and interactiv Continue reading “Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand”

Historic Cal Neva in Lake Tahoe Acquiring Multimillion Dollar Facelift

Historic Cal Neva in Lake Tahoe Acquiring Multimillion Dollar Facelift

The 1936 interior of Lake Tahoe’s Cal Neva Resort and Casino. The property is approximately to endure a multimillion dollar renovation.

The earliest continually licensed casino within the U.S. The Cal Neva in Lake Tahoe is getting some synthetic surgery, like any good old star. The main makeover begins this week, and certainly will close the historic property down for over per year as it undergoes a multimillion-dollar facelift.

Reviving Historic Property

Best-known for being once owned by popular singer Frank Sinatra, the home’s 6,000-square-foot casino and 10-story, 219-room hotel gets the renovations in an effort to bring it back in to its previous excitement and boost company, according to Robert Radovan, co-owner of Criswell-Radovan. Radovan’s Napa Valley, Calif.-based development business purchased the Cal Neva the 2009 spring, aided by the eyesight of having it right back on its feet.

‘Our goal would be to bring it straight back to its former glory also to make it just what it had been like in Sinatra’s day,’ Radovan told the Associated Press. ‘It has such great soul and character, and it is required this redo for many decades.’

The thing that was as soon as the shining star of the Hollywood jet set has fallen into disrepair, blamed on both the recession that’s affected so many casinos, as well as the apparent selection of more opulent and gaming that is accessible, in Reno, Las Vegas and vi Continue reading “Historic Cal Neva in Lake Tahoe Acquiring Multimillion Dollar Facelift”

Chinese Lottery Gets You A brand new Vehicle Maybe

Chinese Lottery Gets You A brand new Vehicle Maybe

In a bid to lessen pollution and smog surrounding the heavily polluted city that is chinese of (try stating that three times fast), a new type of lottery is being introduced. But winning this lottery doesn’t produce monetary independence as well as an extravagant lifestyle; rather it entitles you to purchase a vehicle that is new.

She’s Got a Ticket to Ride

Licenses to obtain a car into the town and allowing you to drive will be issued via a lottery, as the regional officials have had to take drastic actions to reduce the smog and carbon footprint of this city.

Shijiazhuang, the capital of this steel-producing Hebei province which surrounds Beijing, has now end up being the latest locality from the biggest auto market in the world to introduce this type of measure. Other cities that are chinese have imposed a restriction on vehicle acquisitions include Beijing, Guangzhou, Shanghai and Guiyang.

How many brand new vehicles in Shijiazhuang will likely be on a 100,000 for the 12 months, and households within the town will be limited to owning ‘just’ two cars each, according to the government website that is local.

The authorities go on to state that the true range brand new automobiles allowed will be further paid off to 90,000 in 2015, and those able to buy automobiles will be determined employing a lottery format.

Efforts to Lower Emissions

This move comes included in China’s vow to improve their efforts to lessen emissions Continue reading “Chinese Lottery Gets You A brand new Vehicle Maybe”