MGM Resorts International is preparing to make a move to acquire Entain to help boost the company’s online gambling service.
Entain, previously known as GVC Holdings, has several prestigious and well-known betting brands under their umbrella such as Ladbrokes and Coral to name but a few.
MGM and Entrain have already been partnered together since 2018 under the joint name of BetMGM. This aimed to create a new gaming operator using Entain’s technology and MGM’s licenses and branding.
These new games are already in operation across 10 states, including Nevada and New Jersey. There are also plans to expand them further as more and more American states approach the issue of and legalise online gambling.
The value of the offer has not been announced, but it is thought to be approximately £12.85 a share.
If Entain accepts the offer, they will be able to significantly boost their presence for both online and land-based casino opportunities. As interest in a legal and well-regulated gaming market grows in America, deals like this are likely to be watched closely.
This current transaction feels very similar to the arrangement agreed by Caesars Entertainment and William Hill, which is due to be finalised in March.
Affiliates interested in the American betting markets should be on the lookout for deals such as these as they could provide some excellent opportunities to pursue.
