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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BetMGM had a positive update for Entain and MGM Resorts International investors today, as the US-facing joint venture reported positive EBITDA for Q2 2023 The joint venture between London-based, LSE-listed Entain and Las Vegas-headquartered, NYSE enterprise MGM was first launched in 2019, but so far profitability has eluded the sportsbook brand. In its latest update, BetMGM reported H1 revenue of …
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Following a series of departures from the firm’s Board, Kindred Group is reportedly accelerating plans for a potential sale of the company to a larger gambling conglomerate. Bloomberg reports that the Stockholm-listed 32Red and Unibet parent company is evaluating merger or sale options with Morgan Stanely, PJT Partners Inc and Canaccord Genuity Group. The business news outlet further asserts that …
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As 2021 began, the UK betting sector was fixated with the onset of the review of the 2005 Gambling Act review, the outcomes of which would become clearer as the year progressed. The overhaul of the UK’s regulatory gambling regime did not just catch the eye of industry leaders, however, as Chancellor of the Exchequer Rishi Sunak voiced his concerns …
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Dan D’Arrigo has joined the Board of Directors at Gambling.com, conducting oversight of its auditing, nominations and governance. His appointment became effective following the firm’s successful completion of an initial public offering on the Nasdaq Global Market on 27 July. The new appointee will serve as Chairperson of the Nominating & Governance Committee and as a member of the Audit …
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US casino giant MGM Resorts International has confirmed that it has proposed a merger with its US sports betting and igaming partner Entain plc, but has refused to say if a firm offer to acquire the company will follow. It has also been confirmed that the offer consists of 0.6 MGM shares for each Entain share, representing a value of …
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BetMGM has been named the Official Betting Partner of the National Basketball Association’s (NBA) Philadelphia 76ers, shortly after the mobile casino and sportsbook app’s Pennsylvania debut. The recent agreement will see the firm launch a range of 76ers branded casino games, in addition to featuring across all of the team’s digital and social media platforms including the official 76ers app. …
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MGM Resorts International has revealed its transition plan following the news of chairman and CEO Jim Murren’s decision to step down before his contract expiration. The search process is set to be run by a committee of independent directors formed by the board alongside a ‘nationally recognised’ executive search firm. In a statement issued, Murren expressed his gratitude to MGM …
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Japan’s Prime Minister Shinzo Abe has given the green light to approve new gambling resorts across the country, with hopes to open the first resort in Osaka by 2024. The government approved the opening of casinos in 2016, followed by the approval of another bill which would pave the way for the legalisation of integrated resorts. It is hoped that …
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MGM Resorts International has vowed to cut costs, improve efficiencies and prepare for a period of growth as announced in its new company-wide ‘MGM 20′ initiative. The company is striving to grow from its previous profit growth initiatives implemented in 2015, and expects to deliver annualised Adjusted EBITDA uplift of $300m (£238m) in aggregate, consisting of $200m (£159m) by the end of 2020 …
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