The New York-based real estate development and investment firm confirmed Wednesday it completed an $850 million capital raise. Raymond James led the equity private raise for the capital placement while Wells Fargo was in charge of managing the funding. Thanks to the capital raise, Dreamscape will finance a multi-phase renovation of its iconic Rio Hotel & Casino Las Vegas property.

This was Dreamscape’s first gaming property which the company acquired from Caesars Entertainment back in 2019. Famous as the first all-suite hotel to open in Las Vegas back in 1990, Rio Hotel & Casino holds a leadership position within the rich history of the gambling capital of the world.

Dreamscape confirmed it will modernize the two-tower venue and bring new amenities for the guests of the venue. At the same time, the company confirmed it plans to preserve the location’s rich legacy while ensuring supreme experiences for the visitors. It’s important to mention that the property will not be closed during the renovation.

Besides the renovation, the capital raise will contribute toward the launch of two new Dreamscape platforms. Those are Dreamscape Entertainment Integrated Resorts, a company operating hospitality, gaming and entertainment assets, as well as Dreamscape platforms: Dreamscape Entertainment Properties, described as “an experiential real estate investment trust that will own gaming, hospitality and entertainment assets.”

The Company Plans to Expand Further

Duane Bouligny, Wells Fargo Corporate and Investment Bank’s managing director, explained that last year was incredibly challenging for real estate and gaming developments. Still, he outlined: “Amidst this challenging economic environment, we are pleased to have successfully led the debt capital raise for Dreamscape as the company launches its new gaming and entertainment platforms, renovates its first gaming property, and continues to diversify and scale.”

“As Dreamscape continues to evolve and expand, we knew the gaming and entertainment sector would be a natural fit and become a central part of our business.“

Eric Birnbaum, CEO and founder of Dreamscape

Eric Birnbaum, Dreamscape’s CEO and founder, explained that on its path to further growth, the company identified the entertainment and gaming vertical as the perfect sector. He pointed out that Dreamscape is excited about delivering “dynamic lifestyle experiences.” Finally, Birnbaum predicted that the company will continue to grow and differentiate itself as a leading operator within the entertainment and gaming vertical.

Currently, Caesars Rewards is recognized as the largest loyalty program within the gambling industry. The program has more than 60 million members, putting Caesars at the helm of customer loyalty within the vertical offering unique experiences and benefits for its customers.

Ultimately, Caesars Rewards establishes a network of gaming, hospitality, entertainment, shopping, dining and other destinations. Overall, there are more than 50 destinations connected by the mobile product that enables members to redeem, earn and benefit from unique experiences.

At the moment, Caesars is in the process of obtaining a gaming license for a location at Times Square in a joint collaboration with SL Green and Roc Nation. The new location is expected to be at 1515 Broadway and now, Caesars confirmed its plans to team up with local merchants in New York in an effort to expand its loyalty program.

This marks a broader commitment by the trio to help support local businesses in light of the planned gaming and entertainment destination at Times Square. At the same time, teaming up with local merchants expands the reach of Caesars’ loyalty program and is expected to deliver new benefits for its loyal client base.

Building an Entertainment Destination That Fits New York

Marc Holliday, SL Green’s CEO, explained that the company plans to help develop a unique entertainment and gaming destination that fits the vibe of New York. He outlined that although visitors of the new venue can wager on site, they are also going to visit hotels, shops, local restaurants and other locations around the city. This, according to Holliday, delivers a unique opportunity for the expansion of Caesars’ loyalty program in New York. Finally, he explained that the collaboration reaffirms the commitment to the economic future of the city and formalizes the relationships with local businesses.

“Caesars Rewards is the largest and most successful gaming loyalty program in the world, and it is a natural fit to bring it to a city like New York.“

Tom Reeg, CEO at Caesars Entertainment

Tom Reeg, Caesars’ CEO, added that Caesars Rewards is globally recognized as the leading loyalty program in the world. Moreover, he predicted that the program will be well-received in New York. Reeg pointed out that investing in local businesses helps everyone involved in the process. Finally, he said that the expansion of Caesars Rewards will boost the city’s economy and provide vital support for local businesses.

The NYSE-listed Standard and Poor’s 500 international entertainment company has inked the transaction for $450 million in cash received from the Cherokee Nation Businesses’ subsidiary. The company with an impressive portfolio consisting of 31 global hotel and gaming destinations used Weil, Gotshal & Manges LLP as a legal counsel to complete the sale.

MGM Resorts, Ready to Grow 

MGM Resorts International’s president and chief executive officer Bill Hornbuckle called Gold Strike Hotel & Casino in Tunica “an iconic property in Mississippi,” with employees representative of southern hospitality at its finest. Hornbuckle also wished Gold Strike a bright and lucrative future ahead while speaking about their plans for the new proceeds. 

As explained by the treasurer and chief financial officer Jonathan Halkyard, MGM Resorts plans to use the money to strengthen its balance sheet, use more capital to enjoy more growth and return more capital to its shareholders. 

At the closing time of the transaction, the company’s master lease with VICI Properties, Inc., which also comprises Gold Strike, will be changed to cut the annual rent by $40 million. This will be done in order to account for the fresh sale of the Gold Strike operations. MGM Resorts anticipates obtaining net cash proceeds after taxes and fees estimated to be $350 million.

Cherokee Nation Entertainment to Own 11 Casinos

As a result of the newly sealed deal, Cherokee Nation Entertainment will operate and own 11 casinos. The list includes the Hard Rock Hotel & Casino Tulsa, three resort hotels, three golf courses, a horse-racing track, and a series of additional retail operations.

For the year ended December 31, 2022, the Gold Strike property recorded $47 million in net income and $98 million in Adjusted Property Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs.   

Cherokee National plans on further expanding its gaming and hospitality businesses while putting its strategic plans of growth into action. The new acquisition is expected to contribute to the growth of the Cherokee Nation’s economy while also attracting positive changes in the local economies.

MGM Resorts decided to sell the Mississippi property as a means of narrowing its focus in the region to just one resort, Beau Rivage Resort & Casino. The company also decided to dedicate more time and resources to driving the success of this world-class property. 

Beau Rivage is a waterfront casino resort located in Biloxi and it is owned by Vici Properties. It provides a full range of hotel, dining, and entertainment services, including non-stop casino options.

In April 2022, MGM Resorts added Aristocrat’s Buffalo Zone game to Beau Rivage casino’s offering. 
In December 2022, MGM Resorts International announced it would invest $2 billion in its Chinese subsidiary as a result of the Macau concession’s extension.

The jackpot, which is the largest lottery jackpot in the history of the US, was hit with just one winning ticket that was sold to Edwin Castro in Los Angeles County, an unincorporated community in the foothills northeast of the city of Los Angeles. The ticket with winning numbers 10, 33, 41, 47 and 56, and 10 as the red Powerball number, was sold at Joe’s Service Center in Altadena right on time for the big drawing that took place in November. 

Lucky Draw of a Long Rolling Sequence 

Millions of other lottery players tried their luck at the mouth-watering multibillion-dollar jackpot that had eluded players for several months prior to Castro finally hitting it on its 41st draw of the same rolling sequence. 

The Powerball jackpot is initiated at a value of $20 million and grows in size every time no one manages to win it. Over 11.2 million tickets won cash prizes during the same drawing held on November 7, 2022 drawing, including two additional big winning tickets in California which each matched five numbers and have prizes worth more than $1 million each.

Similar to other jackpot winners, the player who denied giving any interviews and making any public appearances was presented with two choices: to receive the entirety of his winnings in the form of a lump sum or to opt for 30 annual payments. 

Castro, who is an ex-student of the California public school system, opted for the cash value of the jackpot, which represented a grand total of $997.6 million. The center that is owned by Joe Chahayed also earned $1 million in bonus money for selling the winning ticket to the player. This happened because California Lottery winners do not have to necessarily be residents of the state in order to be granted a win. 

“Shocked and Ecstatic”

California laws require jackpot winners to be part of public records. However, any other personal information including age and address is not to be disclosed to the public. 

Not wishing to be in the spotlight, the big winner sent a written statement to the California Lottery, saying that he felt “shocked and ecstatic to have won the Powerball drawing,” while calling the California public school system the true winner. This is because the California Lottery is known to generously fund the public schools and colleges in the state. 

Reminiscing about his own studies completed at a public school in California, Castro called it “gratifying” to learn about the perks that the California school system will be benefiting from as a result of his own good fortune. The self-supporting state agency anticipates the state’s auditing process will conclude that the lottery delivered public schools in the state a record amount of $2 billion in the fiscal year 2021- 2022. 

The lottery also contributed $1 billion to support public schools on a yearly basis over the course of the past 22 years.

In January, a Powerball lottery ticket sold in Washington brought its lucky player a $754.6m jackpot. 

Real Madrid is the defending champion, but Los Blancos’ 2022-23 journey could come to an end sooner than expected. It’s because, in the first round of the UCL knockout stage, they’re taking on Liverpool who will probably go all-in.

Liverpool vs Real Madrid Odds

*Odds taken from bet365 on Thursday, February 16, 2023.

When, Where, and How to Watch?

• Place: Anfield, Liverpool, England
• Date: Thursday, February 21, 2023
• Time: 3:00 PM ET
• How to Watch: CBS

Liverpool’s Only Chance to Win Silverware

The Reds from Liverpool are sitting in the middle portion of the Premier League table with almost 20 points fewer than the table leaders. That said, they practically stand no chance of winning the Prem this season. Jurgen Klopp’s men are also out of the two English cups – the FA Cup and the Carabao Cup.

What this means is that their only chance to salvage the 2022-23 season is to win the Champions League. Their form suggests they don’t have a good chance of making this dream come true, but the fact is that they do have a pretty decent roster. The only problem is that many of their key men are injured.

In fact, injuries are what caused Liverpool to play poorly throughout this campaign. The good news, however, is that some of their crucial players are going to return within the next couple of weeks – Diogo Jota, Luis Diaz, Virgil van Dijk, etc.

With these guys in top shape, the Reds do look capable of challenging the UCL trophy. But can they knock Real Madrid out of the competition without those guys on the pitch?

Los Blancos Seem to Love Playing Against Liverpool

Real Madrid won five of their last five duels with Liverpool. The last time they lost to the Reds was in 2009. Further, the last time these two met, Los Blancos defeated the Reds 1-0. It happened last year in the Champions League Final at Stade de France in Paris.

Even though Liverpool had significantly more goal chances than Real, the Spanish heavyweight managed to make its chances count. Los Blancos had only one shot at goal, and it went it.

We expect to see Carlo Ancelotti go with basically the same tactic this coming Tuesday. His team will be the one to defend at Anfield, looking for their chances from set-pieces and counterattacks.

Liverpool vs Real Madrid Prediction

Despite being far from impressive this entire season, Liverpool have been great at home. At Anfield, they’ve only suffered one loss this season, which is proof of how important home turf is for this team. We expect them to play well on Tuesday, meaning that we’re almost 100% certain they’re not going to lose. But can they beat the reigning UCL champions?

We think they might. Liverpool will go all-in as the Champions League is the only competition in which they can win a trophy.

Picks: Liverpool to win and over 2.5 goals