{"id":15406,"date":"2015-01-26T13:39:47","date_gmt":"2015-01-26T21:39:47","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15406"},"modified":"2015-01-26T13:39:47","modified_gmt":"2015-01-26T21:39:47","slug":"golden-scientific-on-the-move","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/golden-scientific-on-the-move\/","title":{"rendered":"Golden, Scientific on the move"},"content":{"rendered":"

Golden Gaming<\/strong> continues to absorb its competitors. Its latest acquisition is Lakes Entertainment<\/strong>, one of the most venerable names in Midwestern gambling. Golden will pay a \"Sartini\"<\/a>37% premium to purchase Lakes at $9.57 a share. While 64% of shareholders will be Lakes ones, the power shift is decisively in Golden’s favor. The latter’s Blake Sartini<\/strong> (right<\/em>) becomes CEO and chairman of the merged, publicly traded company, Golden Entertainment<\/strong> (and receives 7.8 million shares of stock), while longtime Lakes CEO Lyle Berman<\/strong> moves down to board member and consultant. A similar arrangement will be made for Lakes CFO Tim Cope<\/strong>.<\/p>\n

The merger brings Golden’s already-considerable slot inventory to 9,250 one-armed bandits in over 600 locations<\/a>, virtually all in Nevada<\/strong>.\u00a0It also puts Golden in the driver’s seat<\/a>\u00a0of Maryland<\/strong>‘s Rocky Gap Casino<\/strong>, giving it an East Coast presence for the first time. Golden is projecting $348 million in revenue this year. There’s some addition-by-subtraction in the deal: Golden will divest 10% interests in Horseshoe Cleveland<\/strong> and Horseshoe Cincinnati<\/strong>. It will also unload a pair of horse tracks, one in Ohio<\/strong> and one in Kentucky<\/strong>, for a mere $750,000.<\/p>\n

* Scientific Games<\/strong> is very much in the news today. It has inked a pact with Carnival Cruise Line<\/strong> to offer iOS<\/strong>– and Android<\/strong>-enabled mobile games. This is Scientific’s first big deal<\/a> since last autumn’s absorption of Bally Technologies<\/strong>. And since the agreement could put Scientific software aboard 100-plus ships, it’s definitely something to crow about.<\/p>\n

It was also announced that New York City<\/strong>-based Scientific will pull up stakes and move to \"scientific-games-corp-logo\"<\/a>Las Vegas<\/strong>. The shift\u00a0will put Scientific into an otherwise-redundant Bally manufacturing building. The company is also in the process of winding down the Waukegan<\/strong>, Illinois<\/strong> manufacturing operations of its other prize acquisition, WMS Industries<\/strong>. Scientific plans to invest another $5 million in local construction, including a 400,000-square-foot soundstage. To this end, it has obtained $2.5 million worth of construction incentives from the State of Nevada.<\/p>\n

The move doesn’t mean complete centralization of Scientific’s operations. “WMS game development, engineering, support operations the interactive division, will continue to be based in Chicago<\/strong>,” reported<\/a> the Las Vegas Review-Journal<\/em>. “The operational headquarters of Scientific Games\u2019 lottery division will remain in Georgia<\/strong>.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Golden Gaming continues to absorb its competitors. Its latest acquisition is Lakes Entertainment, one of the most venerable names in Midwestern gambling. Golden will pay a 37% premium to purchase Lakes at $9.57 a share. While 64% of shareholders will … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[77,97,67,29,116,72,71,160,92,8,38,89],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15406"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=15406"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15406\/revisions"}],"predecessor-version":[{"id":15407,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15406\/revisions\/15407"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}