BUSINESS

Caesars Interactive Entertainment and KGM Gaming Ink Deal

TAGs: caesars interactive entertainment, kgm gaming, New Jersey Online Gambling

Caesars Interactive Entertainment (CIE) and KGM Gaming have inked a deal that will see the latter providing its remote gaming server (RGS), and suite of games, to be used in their New Jersey online casinos.

KGM Gaming and CIE have joined forces in a partnership that will see the KGM remote gaming server (RGS), and series of top quality games, used at the CaesarsCasino.com and HarrahsCasino.com within the New Jersey iGaming jurisdiction.

caesars-kgm-partnership

KGM have been preparing for this moment for almost six months, when it became the first of its kind to create and submit and fully functioning RGS for online gaming to the New Jersey Division of Gaming Enforcement.

In addition to the RGS, and games, KGM also has the ability to flick the mobile switch whenever it needs to, with a fully integrated mobile option built into the system.

Jason Peters, President of KGM Gaming commented, “Our agreement with Caesars Interactive Entertainment is a natural fit. We’ve both approached online gaming with a start-up mentality that allows us to remain nimble and react quickly and aggressively to opportunities and challenges that arise through this process.”

CIE Senior Vice President Geoffrey Stewart added: “Together with KGM, we are committed to providing the most diverse and highest-quality content to our players on CaesarsCasino.com and HarrahsCasino.com.  It is an added benefit that we are able to work with a local US gaming company like KGM.”

The deal was made possible due to KGM’s relationship with Spin Games, which allowed KGM to offer their services through their license.

Hold the Phone…. Caesars Damaging Caesars!

With just over a week of New Jersey iGaming under its belt Caesars Entertainment Corporation has acknowledged that online gaming in New Jersey may harm the revenue coming out of its brick and mortar casinos in Atlantic City.

In a filing with the US Securities and Exchange Commission, Caesars stated that the company is facing a new threat from Internet gambling, including from their own iGaming operations.

“Online gaming may reduce customer visitation and spend in our traditional casinos in Nevada and New Jersey, which could have an adverse impact on our business and result of operations,” the documents state. “Our Atlantic City properties may be further impacted because all casino games will be permitted online.”

Caesars Atlantic City and Bally’s Atlantic City are the two Caesars owned properties that are currently offering an online gambling option in the Garden State.

News of the filing appeared in the Press of Atlantic City, which also included a quote from Gary Thompson, a spokesman for Caesars, who said:

“We don’t know exactly whether or not (online gambling) will help. We think it will, but we can’t say for sure,” Thompson said. “We have to cover ourselves if someone decides to sue us because we said it was going to increase business.”

Well there you are then.

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