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Legal
March 19, 2024
Entain Says BetCity’s Failings Have Incurred Damages of $63-169M
Entain’s legal battle against BetCity’s former owners continues as the former company claims damages of between €58 million and €156 million ($63-$169 million). The former company used two different methods to calculate the damages, Casino Nieuws said. For reference, Entain acquired BetCity in a $482 million deal in January 2023. The major acquisition allowed the […]
Business
March 18, 2024
MGM Boss Optimistic about BetMGM, Eyes Tech Firm Acquisition
In addition to expressing his confidence in opportunities in the UAE and Thailand, MGM Resorts president Bill Hornbuckle also teased that his company is considering an acquisition of a sports betting tech company. Hornbuckle commented on MGM’s plans and ambitions at the recent JP Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. While the […]
Business
March 14, 2024
Entain Puts Ladbrokes and BetCity on the Chopping Block in Mulled Sale
Entain, one of the biggest gambling companies in the United Kingdom, is reportedly considering selling some of its brands. People familiar with the matter told the Financial Times that the UK-based gambling powerhouse has hired Wall Street boutique advisory Moelis to advise the board on what brands to divest. A potential divestment of assets could […]
Business
March 13, 2024
Entain Strengthens Board with Former Wynn Resorts President
Entain, the global sports betting and gaming conglomerate, has appointed Ronald J. Kramer, former president of Wynn Resorts, to its board of directors as an Independent non-executive director. Kramer’s extensive experience in the gaming industry, coupled with his corporate finance background, is expected to fortify Entain’s position in the US market. Kramer’s Arrival and Share […]
Business
March 12, 2024
Entain Reportedly Eyes Potential Sale of PartyPoker
In an effort to counter activist investors and keep its focus on core operations, the owner of Ladbrokes, Entain, is reportedly exploring options for selling PartyPoker. Last year, industry analysts suggested Entain may consider selling its stake in MGM, media reports confirmed at the time. Another option Entain may explore, as suggested by expert analysts, […]
Business
March 7, 2024
Entain Reports Favorable FY 2023 Results Despite Setbacks
Global betting and gaming powerhouse Entain has published its FY 2023 report, highlighting favorable results across the board despite the recent decline in share price. As reported by the company, its total group net gaming revenue increased by 14% to £4.83 billion. Entain emphasized that 100% of its revenue came from regulated or regulating markets. […]
Legal
February 28, 2024
Defense Deadline Extended for Former BetCity Owners in Entain Lawsuit
Late last month, Entain, the leading gaming and entertainment giant, filed a lawsuit against the former owners of BetCity, a leading online betting and sports brand it acquired last year. The lawsuit came after a couple of undisclosed accidents that involved the brand and ultimately resulted in monetary penalties. Entain alleged that BetCity’s former owners […]
Industry
February 22, 2024
Coral Launches Milestone Promotional Campaign Ahead of Cheltenham Festival
Leading UK bookmaker Coral has unveiled its new brand campaign, “We’re Here For It,” featuring a series of TV ads focusing on horse racing and gaming. This campaign, the first by Wonderhood Studios since they became Coral’s lead creative agency, unites various types of racing, sports, and gaming fans through their shared passion. The TV […]
Business
February 14, 2024
Entain Shares Drop 4% After MGM Excludes Takeover Bid
Recently, MGM Resorts’ chief executive officer, Bill Hornbuckle, was asked about any change of heart following the company’s latest public statement on the acquisition bid topic. His answer led to a 4% drop in Entain’s shares. Last fall, it was speculated that MGM Resorts would possibly make a new acquisition bid for global gaming giant […]
Business
February 12, 2024
Entain Explores Bid for Free-to-Air TV in Australia
Global gambling giant Entain is reportedly exploring a bid to secure direct access to a free-to-air TV channel targeting Australian audiences. The move aims to broadcast racing events, explore synergies, promote gambling products, and challenge the monopoly of Tabcorp-owned Sky Racing. Entertain’s previous broadcasting experience should provide substantial benefits, helping leverage a potential agreement. Entain […]
