DraftKings Ends Efforts to Acquire Entain

DraftKings Ends Efforts to Acquire Entain Thumbnail

Couldn’t see eye to eye DraftKings’ pursuit of Entain is over. On Tuesday, the sports betting and daily fantasy sports leader said it has ended talks with Entain about acquiring the partypoker parent company. Neither company gave specifics as to way no deal could be agreed upon. According to UK law (Entain is headquartered in… Read more »

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DraftKings Ups Bid for Entain to $22.4 Billion

DraftKings Ups Bid for Entain to $22.4 Billion Thumbnail

Apparently that wasn’t DraftKings’ best offer Late Tuesday, after partypoker’s parent company Entain confirmed that DraftKings had put forth an offer to buy the UK-based gambling company, Entain pulled back the curtain further, revealing that it was already considering a second offer from DraftKings. The original offer, according to CNBC, was for $20 billion. Entain… Read more »

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DraftKings Agrees to Buy Golden Nugget Online Gaming for $1.56 Billion

DraftKings Agrees to Buy Golden Nugget Online Gaming for $1.56 Billion Thumbnail

DraftKings has announced that it will acquire Golden Nugget Online Gaming (GNOG) for $1.56 billion. The purchase will be an all-stock transaction, no cash. The sports betting company will get GNOG’s brand, products, and arguably most importantly for DraftKings, its database of 5 million customers. “Our acquisition of Golden Nugget Online Gaming, a brand synonymous… Read more »

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Element Partners Completes $105 Million Acquisition of World Poker Tour From Allied Esports Entertainment

Element Partners Completes $105 Million Acquisition of World Poker Tour From Allied Esports Entertainment Thumbnail

WPT on the move The World Poker Tour has a new home. On Monday, Allied Esports Entertainment announced that it has completed the sale of the venerable poker institution to Element Partners, LLC. Allied stockholders officially approved the divestiture on July 1. Element’s total purchase price was $105 million for all of Allied’s poker-related businesses… Read more »

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Golden Nugget Parent Company to Go Public

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Fertitta Entertainment, the parent company of Golden Nugget, announced Monday that it will once again be a publicly traded company after being private for the last decade. It will make the move not via an initial public offering (IPO), but through a merger with FAST Acquisition Corp, a special purpose acquisition company (SPAC). A SPAC… Read more »

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MGM Explains Why It Wants to Buy Entain

MGM Explains Why It Wants to Buy Entain Thumbnail

Entain believes it’s worth more When Entain announced on Monday that it had rejected MGM Resorts International’s £8.1 billion ($11.1 billion) acquisition offer, it said that it wanted MGM to “provide additional information in respect of the strategic rationale for a combination of the two companies.” As it turns out, MGM did provide that additional… Read more »

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Entain Rejects MGM’s $11.1 Billion Takeover Offer

Entain Rejects MGM’s $11.1 Billion Takeover Offer Thumbnail

Entain says try again MGM Resorts International has made an £8.1 billion ($11.1 billion) offer to buy online gaming company Entain (formerly GVC Holdings), but Entain says it is not enough. On Monday, the owner of partypoker confirmed publicly that MGM did, in fact, receive a proposal from MGM, but that it “significantly undervalues the… Read more »

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Paysafe Going Public Via $9 Billion SPAC Deal

Paysafe Going Public Via $9 Billion SPAC Deal Thumbnail

Quick way to become publicly traded Online payment processing company Paysafe Group has agreed to a merger with the special purpose acquisition company (SPAC) Foley Trasimene Acquisition Corp. II (FTAC). As a result, Paysafe will become a publicly traded company. The deal values Paysafe at $9 billion. FTAC is led by billionaire Bill Foley, hence… Read more »

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Evolution Completes NetEnt Acquisition, Hundreds of Employees to Be Laid Off

Evolution Completes NetEnt Acquisition, Hundreds of Employees to Be Laid Off Thumbnail

Shareholders happy, employees out of work Despite all the problems this year, 2020 has been great for online gambling companies because everyone has spent much more time at home. But while things have been lucrative for companies, hundreds of employees of NetEnt are about to find themselves unemployed. On Tuesday, online gaming company Evolution, which… Read more »

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Caesars Entertainment to Acquire William Hill for $3.7 Billion

Caesars Entertainment to Acquire William Hill for $3.7 Billion Thumbnail

Paying a premium Well that was fast. Just two days after Caesars Entertainment confirmed that it was in “advanced talks” to acquire London-based bookmaker William Hill, the deal got done. On Wednesday, the companies announced that Caesars has purchased William Hill for £2.9 billion ($3.7 billion). Caesars paid 272p ($3.52) per William Hill share, a… Read more »

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Caesars Bids $3.7 Billion to Acquire William Hill

Caesars Bids $3.7 Billion to Acquire William Hill Thumbnail

Following a statement last week from William Hill, Caesars Entertainment confirmed on Monday that it is “advanced” talks to acquire the UK-based sports betting leader. The offer on the table right is for Caesars to pay 272p ($3.50) per William Hill share, making the total value of the potential takeover £2.9 billion ($3.7 billion). The… Read more »

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Rush Street Interactive to Go Public in SPAC Merger

Rush Street Interactive to Go Public in SPAC Merger Thumbnail

Online casino and sports betting company Rush Street Interactive announced on Monday that it is merging with dMY Technology Group in order to become a publicly listed company. The combined company has an estimated value of $1.78 billion. dMY is a special purpose acquisition company (SPAC), also called a “blank-check” company. It sells no products… Read more »

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Golden Nugget Online Gaming to Become Publicly Traded Company

Golden Nugget Online Gaming to Become Publicly Traded Company Thumbnail

Reverse merger Golden Nugget announced on Monday that it will taking its online gambling business unit, Golden Nugget Online Gaming, Inc. (GNOG), public. Once the process comes to fruition, GNOG will become the second “pure” online casino company, as the announcement put it, to be publicly traded. GAN was the first, going public in early… Read more »

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Flutter Entertainment Acquires The Stars Group

Flutter Entertainment Acquires The Stars Group Thumbnail

In stunning news this morning, The Stars Group, owner of PokerStars, announced that it has agreed to be acquired by Flutter Entertainment plc. Flutter Entertainment is the parent company of PaddyPower, Betfair, FanDuel, Adjarabet, sportsbet, and TVG. A new behemoth is formed It is an all-share deal, with shareholders of The Stars Group receiving .2253… Read more »

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Major Investment Bank Downgrades Major Online Gaming Stocks

Major Investment Bank Downgrades Major Online Gaming Stocks Thumbnail

A major investment bank has taken the surprising step of downgrading the “price targets” – or the future price of a stock – for several of the top performing online gaming and poker sites. The reason? The improvements in technology have become so good that it allows for artificial intelligence – or “bots” – to… Read more »

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GVC Holdings to Buy Ladbrokes Coral Group

GVC Holdings to Buy Ladbrokes Coral Group Thumbnail

Merry Christmas, Ladbrokes Coral Group shareholders. Last week, GVC Holdings, the parent company of partypoker, announced that it has come to an agreement to buy UK gaming powerhouse Ladbrokes Coral in a deal that could be worth as much as £4 billion. “In its relatively short time as a merged entity, Ladbrokes Coral has demonstrated… Read more »

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Scientific Games to Buy NYX Gaming Group

Scientific Games to Buy NYX Gaming Group Thumbnail

Gaming technology developer Scientific Games recently announced that it has agreed to acquire digital gaming provider NYX Gaming Group Limited. According to a press release, the purchase – financed with a combination of cash and debt – will be for CAD $2.40 per outstanding share of NYX, amounting to a total of approximately CAD $775… Read more »

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