When it comes to dealmaking, Loveman points out that his company's strong point in dealmaking is his firm's ability to imagine how a possible target would perform as part of his company. One of Loveman's favorite deals is the acquisition of the World Series
of Poker, a tournament his company purchased for $14 million in 2005. Today, Caesars has grown it to a profitable franchise that is televised around the world on ESPN. Loveman also likes his company's buy of Planet Hollywood Casino and Resort.
Wapner wondered where the opportunities might be. Loveman said that there are opportunities in Asia, including Japan, Philippines and Vietnam. He says that financing a deal is difficult in this atmosphere and as a buyer one has to avoid unreasonable assumption of
revenue for strategic assets.
To help possibly pay for new deals, Caesars is expecting to go public in the near future with a limited IPO of $50 million. Loveman hopes that he'll still be around when the company goes public and is confident he can steer it as a public one as he did prior to going private.
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