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Just days after it was revealed that Donald Trump’s camp was in talks with 888 Holdings, the Las Vegas Review Journal on Wednesday reported that Caesars Entertainment Corp. has sold an undisclosed percentage of its online poker subsidiary to its partner in two Ohio casinos for $60.8 million.
The casinos in question are part of the Rock Gaming Group, which just happens to be controlled by the same man who owns the NBA’s Cleveland Cavaliers, Dan Gilbert. Caesars Internet poker arm is also tied to 888 Holdings. Caesars and Rock Gaming are partners in two Ohio casino developments in Cincinnati and Cleveland.
In a filing with the Securities and Exchange Commission, the company said Rock Gaming purchased 50 percent of the more than 12,300 shares on Friday. The remainder are due to be acquired by July 2.
Rock Gaming has an option to purchase an additional 3,140 shares for $19.2 million by Nov. 15, Caesars said in the filing.
Ohio is one of the states currently considering opening its doors to online poker following a US Justice Department opinion late last year that poker does not violate a 1960’s Wire Act.
Ironically, Rock Gaming has filed a gaming license application to operate a slot machine-only casino in Baltimore, Maryland. That state has aggressively gone after Internet gambling websites operating offshore in recent years.
- Chris Costigan, Gambling911.com Publisher
