|
 Gamesys which runs The Sun's online bingo platform has been approached by Caesars Entertainment (formerly known as Harrah's Entertainment) for a possible takeover. The London-based company has been in negotiations with Caesars for the past few months but despite having rumored to offer the company as much as £300m it is understood that the Gamesys has no plans to sell.
Gamesy shareholders have been happy with the performance of the company and are confident in its future. The company revealed pre-tax profits of £21m on £74m of revenues this past year and it paid out almost £29m in dividends, mostly to its founders, Noel Hayden, Andrew Dixon and Robin Tombs.
Shareholders must feel pretty comfortable to turn down such a lucrative deal.
This isn't the first time that a major company has shown interest in buying out Gamesys. Back in 2006 Party Gaming attempted to purchase the company for £200m, but eventually pulled out when its market value was slashed by 60% following the US ban on online gambling.
Caesars Entertainment appears to be preparing for a day when online gambling becomes legalized and regulated in the US. Since they can't have Gamesys they are likely to look elsewhere for an online bingo platform.
As always, stay tuned to Casinofan for more news and updates.
|
Subscribe to this comment's feed
