Tag Archives: MGM Resorts

UK Gambling PLCs take centre stage on Budget week

UK gambling will be at the forefront of global business headlines and further M&A speculation this week as its ‘big-three’ PLCs declare their end-of-year results having navigated the events of an unprecedented 2020.    Opening the FTSE bell on Tuesday 2 February, Flutter Entertainment will publish its 2020 financial results, with City and Wall Street eyes eager to gauge the …

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SBC Leaders: Lessons learned from 2020 and the road to recovery

SBC Leaders

Drawing upon lessons learned can help build the foundation for strong future performance, explained Elen Barber, Chief Marketing Officer at Kindred Group. An exclusive interview with Barber kicks off the first 2021 edition of SBC Leaders, delving into all things marketing, sponsorship, regulation and responsible gambling. Yet as the magazine title would suggest, Barber is far from the only leader …

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Diversified Entain rides out 2020 retail storms

Diversified Entain rides out 2020 retail storms

Entain plc has lauded its ability to maintain a strong trading momentum in Q4 2020, with its diversified portfolio being attributed as a key driver for growth.  Delivering its 20th consecutive quarter of growth, Entain has projected that full-year net gaming revenues (NGR) will grow by 27%. Closing 2020 trading on a high, the FTSE100 group delivered double-digit NGR growth …

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MGM ends Entain speculation by withdrawing all offers

MGM Resorts International has this afternoon communicated that following ‘careful consideration’ it will not submit a revised offer for Entain Plc. The confirmation ends weeks of speculation surrounding the proposed takeover, which saw MGM’s initial offer of 0.6 MGM shares for each Entain share, representing a value of 1,383 pence per share and a premium of 22% to the company’s …

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FuboTV advances sportsbook plans with Vigtory takeover

US streaming service FuboTV has acquired sports betting and gaming firm Vigtory as part of an ambitious plan to enter the burgeoning American gambling market. The financial terms of the deal have not been fully revealed, but it has been confirmed that the streaming service will incorporate Vigtory’s sportsbook and digital gaming operations. It has also been confirmed that Vigotry …

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Entain seeks new CEO as Segev departs to DAZN

Entain CEO Shay Segev has resigned as Group CEO of the FTSE100 online gambling group to join DAZN as ‘joint-chief executive’ of the global sports OTT platform. “Shay has a notice period of six months and will remain in his current role for that period or until a successor is in place,” read Entain’s statement. “The Board, having considered succession issues …

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Entain says £8bn MGM Resorts offer ‘significantly undervalues’ company but asks for more information

Diversified Entain rides out 2020 retail storms

Responding to press speculation, the Board of Entain has confirmed that it has received proposals from its US partner MGM Resorts International (MGMRI) concerning a possible offer for the company, but has quickly poured cold water on any deal being agreed in the short-term. Reports emerged in the Wall Street Journal yesterday that MGM had made a fresh approach for …

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MGM Resorts makes moves to acquire Entain Group

US casino giant MGM Resorts is attempting to acquire the Entain Group, the new name for the recently rebranded GVC Holdings, according to the Wall Street Journal. Entain operates several global gaming brands, including Ladbrokes, Coral, Bwin, PartyPoker , SportingBet, Gala Bingo, Eurobet and Betboo, but is already a partner with MGM in the burgeoning US sports betting and gaming …

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Scott Longley: Penn prepares for its ‘one chance’ with Barstool

US wagering to date has been dominated by conservative marriages between US casino giants and established European sportsbook operators. Flipping the script, last January Penn National acquired controversial US sports publisher Barstool for $450m, stating its intent to develop America’s dominant mass-market sportsbook proposition. Scott Longley explains why if you are still a ‘sportsbook romantic’… you should really care about …

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Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling

Jason Ader has stated that his company SpringOwl, an ‘independent sponsor and buyout firm’, is tracking all developments of a disrupted global gambling landscape as ‘the pandemic has opened the market’. Speaking to SBC, Ader stated that he is neither undeterred by talk of ‘doom-and-gloom’ nor swayed by easy rhetoric related to ‘business accelerations’. Instead, Ader recognises that global gambling …

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