Hard Rock to Seminole Gaming -- U.K.-based leisure company Rank Group announced today that it had agreed to sell its Hard Rock Café and casino business to the Seminole Tribe of Florida for $965 million. The company said the Hard Rock disposal was part of its plan to overhaul, focusing instead on the impending casino liberalization in the United Kingdom. Following the sale, Rank intends to return $688 million to shareholders via a special dividend, equivalent to $1.27 a share. Seminole Gaming Chief Executive Jim Allen was reported as saying the group intended to expand the hotel and café business through selected vacation destinations around the world, and would expand Hark Rock casinos internationally, but not in Britain. Allen said gaming was the main revenue earner for the tribe, which also produces citrus, cattle and tobacco.
Partnering -- World Poker Tour Enterprises (WPT) announced Wednesday an agreement with London-listed operator PartyGaming, which will provide international television sponsorship of the WPT and the Professional Poker Tour (PPT). WPT spokesmen said that the agreement will help solidify and expand the international WPT brand via PartyGaming's marketing resources. PartyGaming subsidiary PartyPoker.com will, in return, receive exclusive in-show branded integration during WPT televised events.
Growth Predicted for Mobile Entertainment Industry -- A recent report by business intelligence provider Juniper Research estimates that the global mobile entertainment market is worth $17.3 billion and will rise to $76.9 billion by 2011. Despite the recent I-gaming ban in the United States, mobile gambling is expected to grow significantly in Asia and Europe, the report states. Currently North America makes up only 14 percent ($2.4 billion) of the total global market for mobile entertainment content. Asia-Pacific is the dominant region worldwide for mobile content (41 percent), followed by Europe (39 percent). Still, Juniper predicts that North America will begin to take an increasing global share of revenues--19 percent by 2011.
Launched -- Microgaming-powered casino system provider Spin3 announced Wednesday that Vegas Partner Lounge has launched Crazy Mobile Casino, also powered by Microgaming technology. The product, which includes 10 casino-style games, will be available to content providers in the United Kingdom, South Africa and elsewhere.