News in brief: Harrah's to go public (again); Playtech; Ora; Gaming VC; Weike; 113 East; Betfair, Rank; Microgaming 24/02/2010

HARRAH’S Entertainment, the US casino giant taken private by private equity firms Texas Pacific Group and Apollo Management two years ago, has declared its intention to take the company public again but has said it will need to wait for the economy to recover and for online poker to be legalised in the US first, Harrah’s chief executive Gary Loveman told delegates at a Reuters conference in New York this week. The private equity firms’ leveraged buyout of the casino giant for US$31bn in January 2008 doubled the casino group’s debt to US$19bn. Harrah’s launched an online business, Harrah’s Interactive Entertainment, in May last year, with HIE chief executive Mitch Garber predicting legal online gambling in the US.

Private Equity firm Ora, a Guernsey-listed subsidiary of Ora Capital Partners has bought 1.5 million shares in Gaming VC, equating to 4.97% of the issued share capital. For more on private equity and online gambling, see January’s feature.

Playtech has launched its new Mobile Web Apps cross-platform solution. The application allows customers to play games without the need to download, and is supported by the iPhone/iPod Touch and Android platforms. 

Weike Gaming Technology consultant Chris Rogers has left the Singapore-based business to focus on his own business, egaming distribution & consulting company 113 East, which is based in Macau. A new Macau sales agent will be announced in early March, and sales co-ordinator Chanel Leong has been promoted to sales co-ordination manager. 

British department store Marks & Spencer’s finance and operations director, Ian Dyson, has joined the board of Betfair as a non-executive director. Dyson brings gaming sector experience, having previously been financial director at Rank Group. 

Microgaming has launched five new games: Hellboy, based on the comic strip character and film of the same name and that was intended for launch last month; nautical exploration-themed Age of Discovery; Viking god-themed Thor Blimey! Premier Blackjack, and Dogfather, which has a canine organized crime theme.

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Posted: 24/02/2010