US casino and entertainment conglomerate MGM Resorts has cleared major regulatory and governmental approvals in its pursuit of its LeoVegas acquisition. Based in Las Vegas, MGM is targeting Stockholm-headquartered LeoVegas with a bid of €575m, first announced in early May, representing a 44.1% premium on LeoVegas’ closing price of SEK 42.32. The company believes that the merger would generate strategic …
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Allwyn Entertainment and Cohn Robbins Holding Corp (CHRC) have moved forward with their merger plans, which would result in the former securing a listing on the New York Stock Exchange (NYSE). The US Securities and Exchange Commission (SEC) has ‘declared effective’ Allwyn’s submission of a registration statement in connection with the amalgamation, which the respective first parties first outlined plans …
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Much of the global betting industry’s focus over the past year has been on US developments, but Europe still has ample ‘greenfield space’ ripe for revenue cultivation. Having established itself in North America’s big tech space from its Silicon Valley headquarters, Branch.io has now looked to new avenues for success. Looking ahead, as the company’s Director of Business Strategy, Reed …
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Sportradar AG has upgraded its year guidance, forecasting full-year revenues in the new range of €695-to-€715m – representing a prospective growth of 24% over fiscal 2021 results. The Nasdaq-listed Sportstech group capitalised heavily on US market expansion during 2022, as Q2 revenues across all segments continue to grow, albeit with rising costs and expenses. Headline results saw Sportradar record revenue …
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Genius Sports has reported a robust opening to year trading, as its NYSE settled business narrows first-half 2022 losses to $45m. Total group revenue during H1 2022 amounted to $157m, a 43% increase on the 2021 figures of $109m, whilst income in the second quarter specifically rose by 27.3% to $71m (2021: $55.8m). Although losses were recorded during both the …
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BetCoco, a new online casino brand, is seeking to bolster its standing in the international crypto betting and casino markets, in particular the Americas. Crystal Wealth Group (CWG), Owner of BetCoco, has a history of land-based casino operations and is now bolstering its presence in online and crypto casinos space with its new brand. With a licence in Curacao, the …
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NYSE-listed games machine manufacturer and distributor PlayAGS has disclosed to markets that it has become an M&A target of gaming technology firm Inspired Entertainment Inc, according to a report from Reuters. This weekend, PlayAGS confirmed to US media that Inspired Entertainment had submitted a $10 per share cash offer to acquire the business at a proposed valuation of $370m. Inspired has …
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The group-wide revenue and profit of 888Holdings took a heavy hit across the first six months of the year, as the LSE-listed firm continues to adjust to its acquisition of William Hill. Publishing its interim report this morning, the FTSE250 group revealed that revenue and profit for H1 2022 were both down by 13% and 66%, standing at £332.1m and …
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Light & Wonder Inc has cited confidence in achieving its long-term financial objectives as the Nasdaq technology group continues to benefit from its ongoing corporate transformation. Publishing its Q2 trading results, Light & Wonder (formerly Scientific Games Corporation) generated $610m from ‘continued business units’ – up 5% on corresponding 2021 results of $580m. Q2 trading saw Light & Wonder complete …
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Shockwaves have been sent through US politics following confirmation that yesterday FBI agents raided the Florida Mar-a-Lago home of 45th President Donald Trump. Though yet unconfirmed, US media reports that the raid formed part of an ‘intensified investigation by the Justice Department into Trump’s affairs as President’. Reported to be in New York, Trump issued a statement condemning the FBI’s …
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