Inside Asian Gaming

inside asian gaming January 2017 44 Baazov drops Amaya takeover bid David Baazov, the controversial founder of Amaya Gaming, has dropped his US$4.1 billion bid to privatize the company. The 36-year-old announced in November that he planned to buy out Amaya for a total of around US$6.7 billion – including more than US$2 billion in the company’s debt – after being forced to stand down as CEO two months earlier due to insider trading allegations. Baazov is still facing those charges in Canada, where he has pleaded not guilty to the alleged use of privileged information when trading company shares between December 2013 and June 2014, when Amaya purchased online poker giant PokerStars for US$4.9 billion. Baazov currently owns 17% of Amaya but has cited cost as the reason for pulling out of his takeover bid. “The decision to terminate my attempted acquisition of Amaya was not an easy one,” Baazov said. “I retained a full suite of advisors, arranged committed financing and engaged in constructive negotiations with Amaya’s board of directors. I submitted an unconditional, fully financed offer of US$24 per share, higher than my original announced intention to submit a US$21 per share offer. However, during the discussions it became evident that the share price premium demanded by certain shareholders exceeded the price at which my investors and I would be willing to complete a transaction.” Caesars joins Las Vegas paid parking trend Caesars Entertainment has announced that it will follow the lead of MGM Resorts and introduce paid parking to some of its Las Vegas Strip properties. Caesars began phasing in its paid parking scheme at two of its resorts, The Linq and Harrah’s, in late December with other properties to follow suit at an unspecified time in 2017. The off-Strip Rio, home of the World Series of Poker, will remain free. The new charges will apply to valet services initially and to self- parking once the necessary machinery is installed. Local residents INTERNATIONAL BRIEFS with approved ID and high-tier members will be allowed to continue parking for free. In a statement, President of Hospitality at Caesars Entertainment Bob Morse said the move aimed “to improve the parking experience” for locals and members of its Total Rewards loyalty program. “Guests who stay, game and shop at our resorts have said that parking spaces and valet services have become increasingly scarce,” Morse said. “So we believe that implementing a paid parking program while also investing in LED parking guidance systems will help address these issues.” Caesars Palace, Harrah’s, Flamingo, Bally’s and Paris Las Vegas will get new parking guidance systems which help drivers identify occupied and unoccupied self-parking spaces by displaying either a green or red light above each space. Caesars owns nine properties either on or near the Strip. Icahn battle with New Jersey heats up Atlantic City casino mogul Carl Icahn has threatened to leave his shuttered Trump Taj Mahal casino dormant due to an ongoing dispute with local union officials and the New Jersey state Legislature. The Trump Taj Mahal closed its doors in October following a long-running strike by casino workers’ union group Local 54, which was seeking to have health and pension benefits that had previously been terminated in bankruptcy court restored. However, rather than sell the property, Icahn is insisting Trump Taj Mahal is not for sale and has applied to surrender its casino license to ensure any future owners can’t use it as a casino unless they pay him a fee. “We are not looking to sell it, not at today’s prices,” Icahn told Associated Press . “I made my fortune buying things cheap.” New Jersey’s legislature has responded to the closure of the Trump Taj Mahal by passing a bill that would strip the casino license for five years from any owner who shut down an Atlantic City casino after January 2016 – a bill that applies only to Icahn and would impact his ownership of another Atlantic City casino, Tropicana. It is unclear at this stage whether Governor Chris Christie will sign the measure into law. Notably, the bill was written by state Senate President and