About this app
About White King
The move aims to clean up the gaming sector by cutting ties between casinos, cyber-fraud operations and untraceable money flows. Deputy Prime Minister and Minister of Interior Sar Sokha warned that any casino found breaching the suspension after it takes effect risks licence revocation and further legal consequences.
In August, Cambodia’s state news agency, AKP, reported that authorities had inspected 195 licensed casinos nationwide as part of a broader anti-scam crackdown. This resulted in the revocation of 20 licences and the suspension of 29 others, with an additional 23 licences lapsing naturally.
Touch Sokhak, deputy spokesperson of the Ministry of Interior, emphasised that the operation seeks to prevent Cambodia from becoming “a safe haven or money-laundering base for technology-related criminals”.
What is White King?
Several gaming entities have jumped into public trading recently, most notably, DraftKings. It saw a huge response when it launched its IPO last year, and Score Media hopes it can see a similar response. With operations in Canada, Colorado, Indiana and New Jersey, heavy interest is not out of the question, and the company is ready to capture a larger piece of the market. It added in its announcement, “[Score Media] currently expects that the net proceeds of the offering will be used to fund working capital and other general corporate purposes, including the continued growth and expansion of theScore Bet’s operations in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating.”
Trading on over-the-counter markets, Score Media was worth $30.59 at the end of the day yesterday. If it is able to sell all 5.75 million shares, even at $30.50, it could earn as much as $175.375 million. However, the company said in its IPO filing that it will offer the shares at $36.52, hoping to raise up to $183 million. If it succeeds, the market value would be right at $1.8 billion. Those interested in following the company on the NGSM can select the SCR ticker, the same ticker Score Media uses on the Toronto Stock Exchange.
The post Score Media launches IPO days after Canada approves single-game wagers appeared first on CalvinAyre.com.
How to play White King
Jonas projected on Friday (Sept. 18) in his Las Vegas room survey a soft third quarter. Jonas said Q3 rates for Las Vegas Strip casino rooms are “mostly lower,” with MGM Resorts rooms down 9% and Caesars Entertainment down 11%.
August rates trended lower, with Strip Proxy down -14%, MGM -17%, Caesars -18%, and Wynn Resorts flat. September is also lower with Strip Proxy down -10%, MGM -11%, Caesars -15% and Wynn +2%, as weekend rates were a bit higher but weighed down by the still soft weekday rates,” Jonas wrote.
Jonas said October is showing some signs of life, but November is mixed at this point.
