Tag Archives: MGM Resorts

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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Entain ups 2021 EBITDA guidance as units clear operating high bars 

Jette Nygaard-Anderson, Entain CEO

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 …

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Year in Review Part Four – UKGC reaches conclusions and M&A sagas come to a close

SBC News Year in Review Part Four - UKGC reaches conclusions and M&A sagas come to a close

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 …

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Entain weighs up $1bn buyout of OEG to gain total Baltic dominance 

SBC News Entain weighs up $1bn buyout of OEG to gain total Baltic dominance 

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 …

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