Gaming

CEOs don’t deserve bonuses just for going shopping

1 Dec 2016

Activision's Bobby Kotick will receive an extra payout for doing a "transformative" deal. Investors have to benefit, but only for a limited time. Sensible M&A is part of what CEOs are already paid for. There's no need to reward them twice – or to encourage risky acquisitions.

Aussie gambling deal faces better odds as takeover

19 Oct 2016

Betting group Tabcorp is buying larger rival Tatts for almost $5 bln in stock and cash. The set-up makes more sense than last year's aborted merger, and the combined group would be better placed to take on foreign bookies. The real gamble is with antitrust regulators.

William Hill’s second fold raises the ante

18 Oct 2016

The $3.3 bln UK bookmaker called off a merger with Canada's Amaya after activist fund Parvus objected. That follows the decision to spurn a takeover bid from rivals 888 and Rank. With deal partners falling, revenue shrinking and no CEO, William Hill is playing a bad hand alone.

Crown highlights risks of courting Chinese VIPs

17 Oct 2016

Shares in Crown Resorts crashed after China detained some staff. Investors had cheered moves by Australia's top casino company to distance itself from Macau. But this episode shows Chinese gamblers, and official attitudes, are crucial to gambling groups across the region.

William Hill’s new card partner looks a better bet

10 Oct 2016

The UK bookmaker and Canada's Amaya, which owns PokerStars, are in talks to create a $5.5 bln company. A pending legal case at Amaya means William Hill needs to tread carefully. But with more online and abroad, Amaya looks more promising than recent suitors 888 and Rank.

Macau casino revival depends on Chinese fun police

14 Sep 2016

After an anti-corruption campaign on the mainland crushed gaming revenues in the Chinese gambling enclave, signs of recovery are starting to emerge. But magnates like Sheldon Adelson and Steve Wynn will have to deliver on family-friendly promises to avoid another smack-down.

Mario takes Nintendo up a level in mobile gaming

8 Sep 2016

Nintendo unexpectedly unveiled a Super Mario game at Apple's new phone launch. Following Pokemon's wild success, this confirms the Japanese group is no longer dragging its feet on reform and is ready to use top characters on mobile. It boosts the case for the new-look Nintendo.

Tencent is sturdiest rock inside China’s firewall

18 Aug 2016

China's closed internet has allowed giants Baidu, Alibaba and Tencent to thrive. The fortunes of the trio are diverging, however. While Baidu has stumbled and Alibaba too often goes off track, Pony Ma's focus makes the $240 bln Tencent look like the best of the bunch.

William Hill could turn tables with tilt at Rank

11 Aug 2016

The UK bookie has spurned a joint offer by 888 and Rank despite potential pre-tax cost savings of 100 mln stg. The pair might snare William Hill by giving it half the company and piling on debt, but 888 could end up worse-off. Or the hunted could turn hunter with a bet on Rank.

Chinese investors up the ante in online games

1 Aug 2016

Gaming outfit Shanghai Giant, Alibaba boss Jack Ma, and partners are buying Israel's Playtika for $4.4 bln. This looks pricier than Tencent's recent purchase of the firm behind Clash of Clans. Plus, casino-style games are even more at risk of being overtaken by the latest hit.

Review: Trump foretold his own grander artifice

22 Jul 2016

Despite recent misgivings by its ghostwriter, "Art of the Deal" is a useful volume to revisit as the Republican convention points to the November election. The blustery façade even in 1987 masked a dearth of substance. Potemkin showmanship was, and is, Trump's greatest skill.

Tencent displays financial skills in Supercell buy

21 Jun 2016

A consortium led by the Chinese gaming giant will buy 84 pct of the Clash of Clans maker for $8.6 bln. Tencent will have voting control, yet will invest less than half that sum in equity. It’s a shrewd way to reduce the risks of buying into a notoriously hit-driven business.