DraftKings digs deep for Golden Nugget
DraftKings acquires Golden Nugget Online Gaming A rich seam: DraftKings acquires Golden Nugget Online Gaming in an all-stock transaction valuing GNOG at approximately $1.56bn. The offer is at a 7.6x multiple on 2022E revenue and is a 51% premium on GNOG’s closing price on 6 August. GNOG will own 6.6% of DraftKings going forward. The […]
Scientific Games SciPlay buyout
Play it again: To no great surprise, Scientific Games has announced it is to buy the outstanding 19% of the free float of SciPlay that it doesn’t already own as it seeks to refocus on gaming following the news of the sports-betting and lottery division planned sales or IPOs. The all-stock deal involves circa $430m […]
Las Vegas Q2 preview
The beat goes on: Analysts are confident Las Vegas Q2 volumes will beat market expectations in the next few weeks. With May GGR on the Strip up 26.7% on May 2019 and up 35.6% MoM to $655.5m, analysts at Macquarie said their survey of Las Vegas operators pointed to “Q2 beats and continued momentum” for […]
SciGames sets up sportsbook sale or IPO
Scientific Games strategic review Open questions: The company has decided to divest its lottery and sports-betting businesses in order to rapidly shrink its long-term debt and zero in on a more gaming-focused entity. Each business will be either sold, separately listed via an IPO or using the SPAC route and the news immediately set the […]
Gamenet bemoans lack of license visibility
The top line Group revenues were down 61% to €57m, pre-tax losses were €32.7m compared to profits of €11.7m in Q1 2020. EBITDA was down 73.9% to €11.3m, all figures were caused by lockdowns, the group said. Online accounted for 99.7% of the group’s revenues at €56.9m and growth of more than 100% YoY. Online […]