Tag Archives: MGM Resorts

LeoVegas revenue hits €99.5m in debut quarter of MGM ownership

Gustaf Hagman, LeoVegas CEO

LeoVegas AB has published its latest results from the Nasdaq stock exchange after integration into MGM Resorts portfolio, reporting positive trading in Europe although some international markets proved difficult. Total group-wide revenue over the three-month period rose 1% to €99.5m (Q4 2021: €98.2m), although various business costs meant that adjusted EBITDA fell by 77% to €3.7m (€11.6m), with a margin …

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MGM reconsiders fresh Entain bid once White Paper clears UK air

BetMGM - MGM and Entain joint venture

US gambling giant MGM Resorts is once again considering a bid to acquire its BetMGM joint-venture partner Entain Plc, as dealmakers await for the UK Gambling Review to be concluded. Citing ‘city sources’, the Daily Mail’s This is Money business news page stated that an M&A move would likely be reconsidered after the White Paper on the Gambling Act review …

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LeoVegas nets €2m EBITDA loss ahead of MGM takeover 

LeoVegas

LeoVegas AB has detailed stable trading ahead of its business takeover by MGM Resorts, set to be concluded by end-of-year trading.  The Stockholm-listed online gambling group published its likely last quarterly trading update, registering corporate revenues of €98m, which reflected a near 1% decline on 2021 comparative results of €99.4m. Period highlights saw LeoVegas maintain growth in its home Nordic …

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LeoVegas shareholders unanimously approve MGM buyout 

Gustaf Hagman, LeoVegas CEO

MGM Resorts has notified this afternoon that its public tender offer has been accepted by 96% of LeoVegas AB shareholders.    Initiated on 2 May, the board of MGM proposed an SEK 61 (€5.90) cash-per-share takeover offer to acquire LeoVegas outright at a deal consideration of approximately $604m (€600m). Securing LeoVegas investor approval, MGM governance announced that settlement of the share …

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MGM one step closer to acquiring LeoVegas after passing regulatory hurdles

SBC News MGM one step closer to acquiring LeoVegas after passing regulatory hurdles

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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Jette Nygaard-Andersen: M&A continues as key to Entain’s growth

Jette Nygaard-Andersen takes charge of Entain as new CEO

Following its Q2 2022 earnings update, Entain has detailed continued focus on its M&A strategy as well as sustainability, as regulatory judgements in the UK loom.  Sharing their perspectives in an investor earnings call, group CEO Jette Nygaard-Andersen and CFO Rob Wood explained that the FTSE100 gambling firm’s acquisition strategy was ‘active as ever’.  Assessing Entain’s global operations, Nygaard-Andersen pointed …

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MGM targets $607m takeover of LeoVegas to move igaming vision beyond US shores

SBC News MGM targets $607m takeover of LeoVegas to move igaming vision beyond US shores

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 …

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Entain nets FY2021 profit rise against heavy retail drags

Jette Nygaard-Anderson, Entain CEO

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 …

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