ANOTHER HUGE TRANSATLANTIC GAMBLING TAKEOVER? MGM LOOKS TO ACQUIRE ENTAIN

US gambling giant MGM Resorts International is looking to acquire Entain (previously ‘GVC Holdings’). 

The acquisition of Entain, which operates well-known betting brands including Ladbrokes, Coral, SportingBet, bwin, Eurobet, and partypoker, would help MGM significantly boost its online betting and gaming offering. 

MGM & Entain have been working together to operate BetMGM, which is aimed at the US sports betting market, since 2018. The brand runs on Entain’s platform and tech, but uses MGM’s US licenses and well established brands. 

BetMGM is currently available in over 10 US states, including Nevada, New Jersey, Indiana, and Pennsylvania, and should be launched in another 10 or so over the course of 2021. 

Though the financial details of MGM’s offer for Entain have not been revealed, according to The Wall Street Journal, it is likely to amount to around £12.85 GBP ($17.56 USD) per share. 

The acquisition would closely parallel Caesars Entertainment’s acquisition of William Hill, which is worth around $4B USD, and should conclude in March 2021. 

Staying with Entain, last month the company announced it had entered the rapidly expanding Colombian market. 

All original content featured on this site is © Pentagon Digital Limited, 2020.