MGM’s LeoVegas play; big deal with bigger implications
On its own, the deal is certainly not the biggest seen in the sector. That $607m can be more than covered by MGM’s money in the bank. LeoVegas generated revenues of €391.2m in 2021 and €43.3m of EBITDA. Accompanying the news Monday, LeoVegas also released its first-quarter earnings showing revenues for the three-month period up […]
Read MoreOSB tech control as important as ever for MGM
A recent note by the analysts at Jefferies says MGM could renew its attempt to acquire Entain in 2022. Wagers.com looks at the potential scenarios of how an MGM buyout of Entain might play out. Entain has a 50% stake in the BetMGM joint venture that is performing strongly for MGM and the UK group […]
Read MoreThe Wagers E+M Golden Alarm Clock Awards
The beats, beefs and boasts of Q3 Beef of the quarter: Deutsche Bank vs. Dave Portnoy As if Dave Portnoy didn’t have enough to worry about this past quarter, he also found himself the subject of an ad hominem attack via a Deutsche Bank analyst note. Wrote the DB team: “At present, we believe Penn, […]
Read MoreMGM *hearts* NY
MGM Resorts International Q3 The top line Revenue up 140% YoY to $2.7bn and consolidated adj. EBITDAR of $765m, Las Vegas revenues up 187% YoY to $1.4bn but down 8% on Q319. Adj. EBITDAR up to $535m from $15m in Q320 and up 21% on Q319. Margin up 943 bps on Q219. Regional revenues to […]
Read More‘Thanks but no thanks’: DraftKings pulls the plug on Entain bid
The wonder, perhaps, with the news that DraftKings has pulled the plug on its bid for Entain is why it took so long. “After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time,” the company said in a statement. Having received an extension […]
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