• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

MGM calls for input after DraftKings makes US$20 billion offer for UK online gaming giant Entain

Newsdesk by Newsdesk
Wed 22 Sep 2021 at 05:46
Massaging the IR Model
43
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

MGM Resorts has demanded a say in any potential transaction following reports that US sports betting and fantasy sports giant DraftKings has made a US$20 billion offer to acquire UK online gaming firm Entain PLC.

Entain and MGM are 50/50 joint partners in BetMGM, the sports betting arm that has quickly established itself among the clear leaders in the nation’s rapidly growing sports betting market.

According to a report overnight by CNBC, since confirmed by Entain itself, DraftKings has made an offer comprising US$20 billion in cash and stocks, exceeding Entain’s enterprise value of £13.2 billion, or US$18 billion. It also far exceeds the US$11 billion offer made by MGM to acquire Entain earlier this year, which was knocked back.

Nevertheless, MGM has issued a statement demanding a say in any such deal considering its potential impact on the BetMGM business.

“MGM is Entain’s exclusive partner in the US online sports betting and iGaming market through our highly successful 50/50 joint venture BetMGM LLC,” it said.

“As a consequence, any transaction whereby Entain or its affiliates would own a competing business in the US would require MGM’s consent.

“MGM’s priority is to ensure that BetMGM continues to capture the growing US online opportunity and realizing MGM’s vision of becoming a premier global gaming entertainment company. MGM believes that having control of the BetMGM joint venture is an important step towards achieving its strategic objectives.

“MGM will engage with Entain and DraftKings, as appropriate, to find a solution to the exclusivity arrangements which meets all parties’ objectives.”

As recently reported by Inside Asian Gaming, MGM has also flagged a global vision for BetMGM as part of its long-term expansion plans.

RelatedPosts

Guiding light

Light & Wonder maintains year-on-year growth trajectory in 1Q25 on strength of US and Australia gaming markets

Thu 8 May 2025 at 06:45
Konami’s Gaming & Systems revenue slightly down to US$122 million in six months through September

Konami, Aristocrat drive 7.8% increase to AGEM Index in April

Wed 7 May 2025 at 05:05
Genting Malaysia to form part of new merged entity taking full ownership of New York’s Empire Resorts

Genting Malaysia to acquire full ownership of US entity Empire Resorts from Lim family vehicle

Sat 3 May 2025 at 05:58
The show must go on

Fitch: Not implausible to see US operators forced to sell Macau casino interests should US-China relations deteriorate further

Fri 25 Apr 2025 at 06:26
Load More
Tags: BetMGMDraftKingsEntain PLCMGM Resorts InternationalNorth Americasports betting
Share17Share3
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Melco prices US$750 million Senior Notes offering

Melco smashes revenue and profit estimates in 1Q25, gains market share on powerful performance of Macau resorts

by Ben Blaschke
Fri 9 May 2025 at 05:36

An impressively strong performance in Macau was enough to see Melco Resorts & Entertainment comfortably beat consensus in 1Q23, with the company reporting a 10.8% year-on-year increase in total operating revenues to US$1.23 billion including a 12.2% rise in gaming...

Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

by Ben Blaschke
Thu 8 May 2025 at 14:03

Macau’s Galaxy Entertainment Group (GEG) reported total net revenue of HK$11.2 billion in the first three months of 2025, including gross gaming revenue of HK$10.9 billion (US$1.36 billion) – up 13.6% year-on-year although slightly lower than the HK$11.0 billion (US$1.38...

Solutions Showcase: Angel – Tech Minded

Baccarat side bets now contribute close to 50% of Macau baccarat revenues

by Ben Blaschke
Thu 8 May 2025 at 13:32

Baccarat side bets now contribute between 45% and 50% of Macau’s gaming revenues, representing a generational shift in player preferences thanks to the deployment of smart gaming table technology. Stakeholders told IAG that such side bets previously comprised only a...

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

by Pierce Chan
Thu 8 May 2025 at 11:11

After a five-year hiatus, City of Dreams’ epic production House of Dancing Water held its premiere on Wednesday 7 May ahead of an official opening to the public on Friday. The newly reimagined resident show is produced by Giuliano Peparini,...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語