Profile: Caesars Acquisition Co (CACQ.O)
21 Feb 2017
Caesars Acquisition Company (CAC), incorporated on February 25, 2013, is formed to make an equity investment in Caesars Growth Partners, LLC (CGP LLC), a joint venture between CAC and Caesars Entertainment Corporation (Caesars Entertainment). CAC's primary asset is its membership interest in CGP LLC and does not have any operations other than through its interest in CGP LLC. CGP LLC has over two operating units: Caesars Interactive Entertainment, Inc. (CIE), and Casino Properties and Developments. CAC serves as CGP LLC's managing member and sole holder of all of its outstanding voting units. Certain subsidiaries of Caesars Entertainment hold all of CGP LLC's outstanding non-voting units. CGP LLC is a casino asset and entertainment company focused on acquiring and developing a portfolio of operating assets, and equity and debt investments in the gaming and interactive entertainment industries.
CGP LLC is focused on developing assets with value creation potential and leveraging interactive technology with online brands. CGP LLC's Interactive Entertainment business consists of over three operating units, such as social and mobile games, the World Series of Poker (WSOP) and regulated online real money gaming. CIE is an interactive social and mobile game provider. CIE's portfolio of games includes Slotomania, House of Fun Slots, Bingo Blitz, the Caesars Casino game and The World Series of Poker. CIE has a license in Nevada to operate online poker and also operates WSOP.com. CIE is offering over three regulated online real money gaming Websites, such as CaesarsCasino.com, HarrahsCasino.com and WSOP.com in the United Kingdom under the Caesars, Harrah's and WSOP brands. Its Websites primarily focuses on poker, casino and bingo related games. CIE operates WSOP.com and HarrahsCasino.com in New Jersey on 888 poker software's (888) platform, and operates CaesarsCasino.com in New Jersey on the NYX Gaming Group (NYX) casino platform. The WSOP is an organizer of a regional poker tour. CIE markets the WSOP brand through over three platforms, such as live events, licensing and sponsorships.
CGP LLC's Casino Properties and Developments include Planet Hollywood, The LINQ Hotel & Casino, Bally's Las Vegas, The Cromwell, Horseshoe Baltimore and Harrah's New Orleans. Planet Hollywood includes an approximately 2,500-room hotel, which offers deluxe guestrooms and suites, and over 64,500 square foot casino with approximately 1,090 slot machines and over110 table games. The facility also has food and beverage outlets, an outdoor pool area and a spa that is leased to a third party. Planet Hollywood also has over 80,000 square feet of convention, trade show and meeting facilities, including a main ballroom, pre-function space, breakout space in separate rooms and a theater, which is owned by Planet Hollywood and has a booking and marketing relationship with Live Nation, a concert promoter.
CGP LLC's Cromwell is a boutique lifestyle hotel and casino located in the Las Vegas Strip. The Cromwell has over 190 luxury hotel rooms, the GIADA restaurant, an approximately 40,000 square foot casino with over 410 slot machines and approximately 50 table games, and a rooftop indoor/outdoor dayclub/nightclub called Drai's. The LINQ Hotel & Casino is located on the Las Vegas Strip next to The LINQ Promenade, an outdoor retail and dining area. The LINQ Hotel & Casino has over 2,250 rooms, an approximately 62,200 square foot casino with over 750 slot machines and approximately 70 table games, a range of bars and restaurants, including the Hash House A Go Go and Guy Fieri's Las Vegas restaurant, as well as a range of entertainment offerings, including Divas Las Vegas and Recycled Percussion.
CGP LLC's Bally's Las Vegas is located on the Las Vegas Strip. It has over 2,810 rooms and suites, an approximately 66,200 square foot casino with over 1,000 slot machines and approximately 70 table games, over eight restaurants, including a BLT Steak restaurant, an Olympic-sized pool, a spa and salon, and retail shopping. Harrah's New Orleans is a French-themed resort and casino located in New Orleans, Louisiana. It has over 450 rooms and suites, an approximately 125,100 square foot casino with over 1,720 slot machines and approximately 150 table games, restaurants and bars (including the Ruth's Chris Steakhouse, Besh Steak and Acme Oyster House), as well as the Masquerade nightclub. Horseshoe Baltimore is an approximately 122,000 square foot casino that offers over 2,200 slots, approximately 180 table games and a WSOP-branded poker room. It has a range of nightlife options, such as 14Forty, a 24 hour multi-level entertainment venue, and signature restaurants from celebrity chefs.
The Company competes with Zynga Inc., Glu Mobile, Inc., IGT, King Entertainment plc and Electronic Arts.
Caesars Acquisition Co
1 Caesars Palace Dr
LAS VEGAS NV 89109-8969
Company Web Links
- BRIEF-Caesars Entertainment Corp and Caesars Acquisition Company report amendment to merger agreement
- BRIEF-Caesars Acquisition Company's Q3 revenue rose 1.1 percent
- BRIEF-Caesars Acquisition Co - co, units entered into an amendment to CIE proceeds
- BRIEF-Caesars Acquisition enters new employment agreements with CFO Craig Abrahams, General Counsel Michael Cohen
- CORRECTED-UPDATE 1-Caesars strikes deal to end main unit's bankruptcy