Lippo-Caesars Southern Korea Casino Project Clouded by ‘Uncertainties’

Lippo-Caesars Southern Korea Casino Project Clouded by ‘Uncertainties’

Hong Kong-based estate that is real Lippo Ltd. stated earlier in the day this week that its joint project with United States gaming giant Caesars Entertainment Corp. for the construction of a built-in resort in Incheon, Southern Korea might not be materialized due to ‘a quantity of uncertainties.’

Later in 2014, the consortium of Lippo and Caesars Entertainment subsidiaries reached a deal that is conditional the purchase of a 90,000-square-meter portion of land for the planned hotel and casino resort from vendor MIDAN City Development Co. Ltd. Lippo holds a 55% stake within the second business.

Previously this week, however, it became clear that the involved parties have actually perhaps not agreed upon all the necessary conditions concerning the sale associated with the said part of land. Here it is important to note that the purchase agreement is set to expire on 31, 2015 december. Lippo stated in a filing to your Hong Kong Stock market that they might never be able to proceed using the casino project due to ‘a number of uncertainties.’

The real-estate developer explained that the said ‘uncertainties’ are related to if the conditional land deal would in the course of time be finalized and whether or not the consortium user would acknowledge various investment terms.

LOCZ Korea Corp., because the consortium happens to be called, comprises Lippo Worldwide, a wholly owned subsidiary of Lippo, OUE International, an organization partly owned by the Hong Kong-based property developer, and Caesars Entertainment’s Caesars Korea. Weiterlesen

Sportech Racing and Digital to Deliver Desktop and Cellphone Betting methods to Penn National Gaming

Sportech Racing and Digital to Deliver Desktop and Cellphone Betting methods to Penn National Gaming

Sportech PLC’s racing and digital division Sportech Racing and Digital announced previous today so it will supply its latest pari-mutuel wagering solutions for both desktop and mobile phones up to a Penn National Gaming Inc. affiliate.

At present, Sportech is the provider that is official of forms of pari-mutuel gambling options to the gambling operator, which manages a complete of twelve racetrack venues and four off-track betting ones in nine jurisdictions. What is more, the internet gambling technology supplier has been providing its solutions to Penn National Gaming’s eBetUSA online gambling brand as it went live in 1999.

Underneath the regards to the agreement that is new Penn nationwide is going to be given the alleged Digital Link and G4 platforms. Those are required to further boost the power of the already installed BetJet betting terminals and Quantum System computer software. The Sportech items will give Penn nationwide gambling customers the opportunity and convenience to utilize one account plus one electronic wallet across all available betting channels.

Quite simply, players will be able to make use of a solitary Penn National account on desktop, over their mobile phones (through the Digital Link mobile app), with a betting terminal located within some of the 16 land-based venues, etc.

Sportech Racing and Digital President Andrew Gaughan said they are particularly happy to further expand their company relations with Penn nationwide, that is considered to be the largest owner and supervisor of racetrack and associated gambling venues over the United States. Weiterlesen