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MGM Resorts plans to buy out owner of several betting firms

MGM Resorts plans to buy out owner of several betting firms - Entain

 

In January, betting company Entain notified the public of the prospect of a takeover contract from US-based gambling giant MGM Resorts international. Entain (once called GVC Holdings) has several betting companies and betting brands like all slots casino at its disposal. These include betting operators Coral, SportingBet and Ladbrokes. 

 

However, the bookmaker's bosses stressed that the offer, although intriguing, is somewhat undervalued by the company: it is worth noting that the deal would be worth just over £8bn, according to preliminary estimates. Entain's press office also said that the company's board of chairmen had sent a request to MGM for a preliminary analysis on the rationality and strategic rationale for the merger. 

 

Either way, the bookmaker's share price soared in the days after news of the potential deal emerged. The increase in value per share was 1,434 points, a rise of 26%. 

 

According to The Wall Street Journal's editorial, the full price of the paysafecard online casino takeover process has not been announced by either company. Presumably, the value of the contract will be decided on the basis of the price per share, which as of January was $18, or £13. If the deal is successful, Entain could significantly strengthen its role in the online gambling sector and even in land-based gambling houses. 

 

Experts by and large reflect a consensus that the contract will be similar to the deal between Caesars Entertainment and provider William Hill. The value of the contract was $4 billion and the full merger will take place in March 2021. 

 

One of the representatives of GoodBody, gambling expert David Brohan, said that the takeover of the popular betting brand by such giant as MGM Resorts International is not at all an unpredictable fact for him. The specialist attributed this to the fact that US companies wish to control the entire sphere of the gambling industry. 

 

Recall that Entain is a British company founded back in 2004 in Luxembourg. The firm operates brands that focus on the consumer online gambling sector. The main betting brand, bwin, operates in Germany, France, Italy and Spain. The service is a full-service operator that offers slots, online poker and even table games. 

The Betboo division, founded in 2005, gives South American players access to online casinos, sports betting and interactive online bingo.




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