Andrew Tottenham - September 24, 2018

Come together: Consolidation is the name of the game


The once-fragmented – and, hence, competitive – gaming sector has seen an increasing number of mergers and acquisitions in recent years, and the velocity has only increased in the last twelve months. The fever for consolidation started quietly a few… [see full article]




Andrew Tottenham -

An Alchemist’s Dream, Dust into Gold


The European gambling landscape is quite mature, with very few opportunities for meaningful expansion. There are still ways to grow profits, such as improving revenues through better marketing programs and doing cost reductions, but without new licenses becoming available the only way to substantially increase profits is to acquire other businesses. All three options have […]




Andrew Tottenham - February 11, 2015

Ail Caesars!


The big news recently is the filing by Caesars Entertainment Operating Company (CEOC), in the Chicago courts for Chapter 11 bankruptcy. The filing is not for the whole of Caesars Entertainment Inc. but for one of its many subsidiaries. This subsidiary owns a large part of the Caesars’ empire, mainly the competitively challenged older properties […]




Andrew Tottenham - September 4, 2014

Dire Straits


The European land based casino industry is not in a good place. Many countries have seen revenues contract sharply since the glory days of 2007/2008. For example, in 2013 in Greece total casino GGR has dropped almost 60% from the €744 million won in 2008. In the Netherlands GGR in casinos has declined from €627 […]




Andrew Tottenham - August 26, 2014

Why is it just so difficult?


There have been, in the past few years a number of initiatives to develop large scale casino destination resorts. The success or failure of these initiatives is usually a matter of geography. In Asia they have, thus far,been hugely successful. I am not talking about the commercial success of the facility but of the initiative; […]