Acropolis casino up for sale

**jetset** · 23rd October 2007, 10:30 AM

ONLINE CASINO OLDTIMER FOR SALE

Leisure and Gaming puts Acropolis on the block

One of the longer established online casinos, Acropolis Casino.com is up for sale at a price of $500 000 according to AIM-listed Leisure and Gaming plc which owns the operation through subsidiary Grouse Entertainment NV.

eGaming Brokerage.com has listed the online venue, revealing that L&G is "....exploring the possibility of selling its subsidiary, Grouse Entertainment NV, being the legal entity that owns and operates the Acropolis Casino www.acropoliscasinos.com."

Grouse / Acropolis holds a Curacao gaming license and owns its own fully depreciated equipment. The site uses the Playtech
casino software and outsources payment processing and customer services.

Despite no marketing in recent times, and a decline in net win since 2006 levels, Acropolis Casino has been generating an average of $100 000 per month in net win and $16 000 per month in EBIT since the beginning of 2007 through returning players, its established and recognised brand and good natural search engine optimisation. The casino has a database of some 24 000 non-US cash players.

**Casinomeister** · 23rd October 2007, 10:34 AM

Wow. Doesn't 500k seem rather low if they were making 100k per month? A buyer could cover his purchase costs in less than a year.

**chuchu59** · 23rd October 2007, 10:44 AM

Originally Posted by Casinomeister

Wow. Doesn't 500k seem rather low if they were making 100k per month? A buyer could cover his purchase costs in less than a year.

This depends on whether the average of $100K is based on a declining trend since the beginning of the year. If it started at $200K in Jan and is now about $30K per month, it could be worrying. The pool of players has dwindled so dramatically that it is likely that many will cease operation within the next 12 months. Playtech powered casinos are the worst hit as the software forbids players located at the US to play while some MGs and RTGs still allow this. The only ones that could survive are those who offer sportsbook services like Bet365 and Betfred. They are finacially strong and can weather the storm.

**Casinomeister** · 23rd October 2007, 10:56 AM

Originally Posted by chuchu59

This depends on whether the average of $100K is based on a declining trend since the beginning of the year. If it started at $200K in Jan and is now about $30K per month, it could be worrying. The pool of players has dwindled so dramatically that it is likely that many will cease operation within the next 12 months. Playtech powered casinos are the worst hit as the software forbids players located at the US to play while some MGs and RTGs still allow this. The only ones that could survive are those who offer sportsbook services like Bet365 and Betfred. They are finacially strong and can weather the storm.

Good points - especially the sportsbook buffer zone. But this casino is well branded, it's not just some GoldenVegas123casino.com site

There is a lot of potential here.

Damn, we've seen some domain names fetching more than 500k.

Makes me wish I had an extra 500k lying around

**brutaldeluxe** · 23rd October 2007, 09:10 PM

Extra 500k ? So you do have 500 k then ?

**mycatscalledenr** · 24th October 2007, 12:00 AM

Massively risky investment. Sitting around twidling your thumbs waiting for someone to hit a royal flush on 50play Video poker then grabbing your notebook and running to well er Costa Rica I guess.

MCCE.

**YodaJedi** · 24th October 2007, 02:13 AM

What kind of checks or licensing would one have to go through if they were to buy it? Are there any? Or could anyone with 500k just purchase it? Does anyone know how much a new Playtech license goes for? Not that I have 500k but this just seems really cheap to me.

**lojo** · 24th October 2007, 02:33 AM

I assumed it came with the license... ???

**YodaJedi** · 24th October 2007, 03:46 AM

Originally Posted by lojo

I assumed it came with the license... ???

I assume it does also. What I meant was is there any check on the person or requirements to assume that license? Or can anyone who is willing to pay 500k just get it? And as a separate question, how much does a new Playtech license cost?

**chuchu59** · 24th October 2007, 03:48 AM

I have given this some thought. IMO some of the financially sound casinos could purchase Acropolis at this price or rather about 250K pounds. What came to my mind is 32 RED. I know they are MG but cant they have one brand and 2 different software to support them. They were not seriously hurt by the (ban) on US players as this had never been their customer base all along. Besides the intake of former Acro players, their own players could be given more choice of games. MG and Playtech are quite different and if a casino adopts both we can expect some dynamics especially when there does not seem to be a Playtech top dog at the moment. 32 RED could well see a massive boost to their client base and retain customers who are sick of MG. Playtech should be keen to solicit them although this might not rest comfortably with MG.

Actually, I would love to stick with a casino where I can enjoy the best of both worlds. If comps , or in this case rubies, can be earned and used at both versions of the casino, it would be simply adorable. What do you guys think. Is this workable?