The experts within our Media, Entertainment & Gaming Group maintain ongoing contact with a wide range of knowledgeable sources to stay abreast of the issues and trends that could impact the industry’s M&A climate or otherwise influence our clients’ businesses. Following are a few of the topics addressed in our most recent Media, Entertainment & Gaming Review, which is published quarterly.
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MEDIA, ENTERTAINMENT AND GAMING REVIEW (2010: Q2) (View complete report)
Media & Entertainment Outlook
Merger Activity Heating up as Goliaths Jockey for Position
Following the announcement of two mega-deals in late 2009, specifically the Disney acquisition of Marvel Entertainment, Inc. and Comcast’s play for NBC Universal, many within the media and entertainment industry had predicted big moves to follow. Instead, no significant announcements have followed and activity has generally been muted.
Looking more closely, we find that although the headline grabbing mega-deals remain far and few between since the global recession kicked off in late 2008, overall activity has been anything but silent. Traditional media players have been taking measured steps into the new media arena with strategically placed acquisitions and investments. Every once in a while, some of these deals do rise up to the national spotlight, such as the FOX acquisition of MySpace, but more often than not, these deals take place away from the limelight. Simply put, traditional media players, having heard the sirens calling for their demise, have gone on the offensive.
Gaming Outlook
Opening of Marina Bay Sands Highlights Significant Expansion of Gaming Industry’s Key Ports
Under much fanfare, Las Vegas Sands (NYSE:LVS) established a significant new beachfront in the Gaming World with the recent opening of its $5.5 billion Marina Bay Sands. After a 45-year ban on casinos, Singapore recently re-opened its doors to the gaming industry with an aim to double tourism revenue by 2015 and shed what Prime Minister Lee Hsien Loong called an “unexciting” image. Marina Bay Sands shares the new gaming venue of Singapore with Resorts World’s Sentosa property, which opened earlier this year in February.
Early results are encouraging. On June 28, the Singapore Tourism Board confirmed that 30.3% more visitors visited the city-state in May 2010 over May 2009, an improvement largely attributed to the soft launch opening of the Marina Bay Sands over the last weekend in April. The casino is projected to stimulate an additional $2.7 billion (0.8%) to Singapore’s GDP by 2015.
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