Add-on Acquisition • Gaming

Caesars Entertainment Acquires Centaur

On November 17, 2017, Caesars Entertainment acquired gaming company Centaur from Clairvest Group for 1.7B USD

Acquisition Context
  • This is Caesars Entertainment’s 2nd transaction in the Gaming sector.
  • This is Caesars Entertainment’s largest (disclosed) transaction.
  • This is Caesars Entertainment’s 3rd transaction in the United States.
  • This is Caesars Entertainment’s 1st transaction in Indiana.

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M&A Deal Summary

Date November 17, 2017
Target Centaur
Sector Gaming
Buyer(s) Caesars Entertainment
Sellers(s) Clairvest Group
Deal Type Add-on Acquisition
Deal Value 1.7B USD

Target Company

Centaur

Indianapolis, Indiana, United States
Centaur is an owner and operator of the Hoosier Park Racing and Casino. Centaur operates a thorough bred and standardbred horseracing track in Andersen, Indiana, and an OTB network throughout Indiana. Centaur is based in Indianapolis, Indiana.
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Buyer Overview 1

Buyer

Caesars Entertainment

Las Vegas, Nevada, United States

Category Company
Founded 1937
Sector Gaming
Employees68,000
Revenue 8.2B USD (2018)
DESCRIPTION
Entrance to Caesars Palace in Las Vegas, Nevada.
Entrance to Caesars Palace in Las Vegas, Nevada.

Caesars Entertainment is a diversified casino entertainment provider with casinos and resorts in the US, South America, Europe, and the Middle East. In addition to casinos, Caesars' facilities typically include hotel and convention space, restaurants, and non-gaming entertainment facilities. Caesars Entertainment Corp. was established in 1937 and is headquartered in Las Vegas, Nevada.


Deal Context for Buyer #
Overall 4 of 4
Sector: Gaming 2 of 2
Type: Add-on Acquisition 4 of 4
State: Indiana 1 of 1
Country: United States 3 of 3
Year: 2017 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-30 Playtika

Herzliya Pituach, Israel

Playtika is a global social and mobile free-to-play games company. Playtika was formed in 2010 and is based in Herzliya Pituach, Israel.

Sell $4.4B

Seller Profile 1

SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.


Deal Context for Seller #
Overall 18 of 31
Sector: Gaming 2 of 3
Type: Add-on Acquisition 8 of 15
State: Indiana 1 of 1
Country: United States 7 of 17
Year: 2017 4 of 4
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-19 CRS Contractors Rental Supply

Brantford, Ontario, Canada

CRS Contractors Rental Supply LP is a provider of construction rental equipment and related merchandise. Founded in 2000, the Company grew from 4 to 21 locations in Ontario and over 400 employees dedicated to delivering superior products and customer service.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-22 Top Aces

Dorval, Quebec, Canada

Top Aces provides advanced airborne training to the world’s leading air forces (Canadian, German, and formerly Australian militaries). The mission-critical training offered by Top Aces enhances the operational readiness of combat forces by providing a realistic real-world experience while prolonging fleet life. Top Aces was founded in 2000 and is based in Dorval, Quebec.

Buy -