MGM Resorts International has extended its reach in Europe, building on its acquisition of established multinational igaming operator LeoVegas by launching its BetMGM brand in the UK. BetMGM began as a joint venture between the Las Vegas-based entertainment conglomerate and London-headquartered international group Entain. However, the UK brand will operate outside of this joint venture, using LeoVegas platform as well as …
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Laying out its plans for 2023 in its most recent earnings call, the leadership of MGM Resorts has made it clear that a potential acquisition of European partner Entain is not on the table. The company has been involved in a long-running joint venture with FTSE100 gambling group Entain since 2018, operating the US-facing BetMGM brand. However, an escalation of …
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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 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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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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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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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 …
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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 …
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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 …
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SBC Digital North America delivered on its goals of providing insightful conference content, showcasing the latest industry innovations, and creating an effective platform for making business connections, a survey of attendees has found. The online conference and exhibition for the sports betting and igaming industries achieved a Net Promoter Score (NPS) of 67, as the overwhelming majority of delegates who …
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