Tag Archives: MGM Resorts

The board of LeoVegas AB has ‘unanimously recommended’ to investors an SEK 61 (€5.90) cash-per-share takeover offer submitted by US casino and entertainment group MGM Resorts. Publishing deal terms this morning, LeoVegas has advised shareholders to accept MGM’s offer, which has placed a 44% premium on the firm’s SEK 42.3 (€4.10) closing price on the Stockholm Nasdaq as of Friday, 29 …

Entain Plc has branded 2021 as another transformative year for its business that has expanded its global brand portfolio to service 31 regulated/regulating markets.    Publishing its full-year 2021 results, the company registered group net revenues of £3.88 billion, up 7% on corresponding FY2020 results of £3.63 billion. Headline performance saw its online portfolio declare a ‘ninth consecutive year of double-digit …

Entain Plc has upped its expected full-year 2021 EBITDA results to be in the range of £875-to-£885 million, as the FTSE100 gambling group delivers on its high-growth targets.  Publishing a Q4 trading update, Entain cites that FY2021 group net gaming revenues (NGR) will be up 7% on corresponding 2020 results. Growth is attributed to the robust performance of its online …

MGM Resorts and Entain Plc have issued a joint statement on their US venture BetMGM, that targets a net revenue result of $1.3 billion for 2022 trading.  Of significance, the venture will aim to be EBITDA results positive in 2023, marking a significant milestone for the business that was launched in the summer 2018.  The two group’s aim to maintain …

The final quarter of the year saw huge news across a range of areas of the international betting and gaming industry, as two major acquisition sagas concluded – with differing results – and the UKGC made a number of important announcements.  In the second half of 2021, the betting sector closely followed a prominent transatlantic development, as major US player …

Speculation mounts on the next M&A move of Entain Plc following weekend reports that the FTSE100 gambling group is preparing a $1 billion (€890m) takeover of Olympic Entertainment Group (OEG).  Entain’s new target was disclosed by Bloomberg, citing “sources who wish not to be identified, as the information is private”. Yet, neither Entain nor OEG have issued statements acknowledging any …

DraftKings has confirmed that it will not pursue a takeover of UK betting and gaming group Entain, putting an end to over a month of speculation and negotiation surrounding the potential merger. Despite this confirmation, DraftKings retains the right to disregard its statement should it come to further agreement with the board of Entain, if a third party makes a …

DraftKings has maintained confidence in a potential £20 billion buyout of Entain, after the latter extended its ‘Put Up or Shut Up’ deadline yesterday, requesting clarification on a number of issues relating to the transaction. The FTSE100 gambling group has pushed the deadline forward to 16 November 2021, requiring the US sports betting and fantasy sports operator to make a …

Entain Plc has extended its ‘put-up or shut-up’ deadline to DraftKings, as investors of the FTSE100 gambling group demand that its US suitor put definitive terms on its $20 billion acquisition bid. In an official announcement this afternoon, the gambling group detailed that it requires ‘a number of matters to be satisfactorily resolved ‘by no later than 5.00pm on 19 …

MGM Resorts CEO, Bill Hornbuckle, has hinted at a potential buyout of BetMGM, currently co-owned and operated with Entain, dependent on the possibility of the latter’s acquisition by DraftKings. As reported by Bloomberg, Hornbuckle made the comments whilst speaking at the Global Gaming Expo casino industry event and in a separate interview, highlighting ‘a lot of ways’ for a potential …