Rock Gaming Acquires Slice Of Caesars Interactive

Rock Gaming has been sold a small percentage of Caesars Interactive, an online gambling subsidiary of Caesars Entertainment.

Caesars Entertainment is the leading brand in the world of land casinos, having the largest casinos around. Their online gambling subsidiary, Caesars Interactive operates in Europe and also at the popular World Series of Poker tournaments, offering an online casino and poker room.

The Securities and Exchange Commission just registered the new filing, and this is big news, especially because online gambling is still illegal federally in the United States, and Caesars Entertainment has always been one of the biggest lobbyists for federal regulation of online gambling.

According to the filing made at the Securities and Exchange Commission, 12,300 shares were committed to Rock Gaming for $60.8 million. It was not stated what percentage that holding amounts to, but if it’s worth $60.8 million, it has to be quite a significant chunk. So far, Rock Gaming has purchased only half of the committed shares, and will acquire the balance by July 2. By November 15, 2012, Rock Gaming will be given the option to purchase more shares to the tune of $19.2 million for 3,140 shares.

Investing so heavily in online gambling ventures seems like a trend that is going to continue. Eventually at some point, online gambling will become legal again in the United States, and when that happens, many companies are going to be ready to take advantage of the opportunities made available to them because of their invest into online gambling ventures already.


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