Tag Archives: Merger
US – MGM linked with possible merger with Caesars to create gaming colossus
Reports out of New York are linking MGM Resorts with a possible merger with Caesars Entertainment to form a gaming colossus. MGM has reportedly hired investment bank Morgan Stanley and law firm Weil, Gotshal & Manges to analyse the synergies and benefits of such a deal although no offer has been put on the table…
UK – Gamevy and Glück to merge into one entity
Gamevy and Glück Games, long-term partners in the online space, are to merge to form a new group company called Gluck Group. Deciding early on that the opportunities for two small companies were greater in collaboration than competition, they joined forces to offer a broad range of games to lottery, bingo and casino customers. Together…
US – Dover Downs merging with Twin River
Dover Downs Gaming & Entertainment is merging with Twin River Worldwide Holdings, giving a physical presence for Twin River in the Mid-Atlantic region, a new geographic market. Twin River already operates gaming venues in the South (Biloxi, Mississippi), West (Aurora, Colorado) and Northeast (Lincoln and Tiverton, Rhode Island (opening shortly) regions. Dover Downs’ President and…
US – Paddy Power Betfair US completes merger with FanDual
Paddy Power Betfair and FanDuel have closed their previously announced merger, combining Paddy Power Betfair’s US businesses with FanDuel, making what they say is the largest online sports destination in the United States, with a range of products and experiences for all sports fans. The new company embodies the strengths of TVG, Betfair US and…
US – Penn’s deal to buy Pinnacle approved in Pennslyvania
The Pennsylvania Gaming Control Board and the West Virginia Lottery Commission have approved Penn National’s pending acquisition of Pinnacle Entertainment. The completion of the proposed transaction is contingent on receipt of additional regulatory approvals, as well as certain other conditions. “We are grateful for the prompt review by the PGCB and WVLC of the proposed…
US – Caesars rejects MGM’s opening bid in battle of the REITs
Las Vegas’ two heavyweight casino groups are dusting themselves down after an opening round saw Caesars fend off a bid from MGM who wanted to buy 20 of its casino resorts. MGM had publicised a letter it sent to Caesars pitching the deal atUS$5.8bn. Whilst ultimately involving the two biggest gaming companies in Las Vegas,…
US – Penn National confirms discussions with Pinnacle Entertainment
In light of recent market speculation, Penn National Gaming has confirmed it is engaged in discussions with Pinnacle Entertainment regarding a potential business combination, whereby Penn National would acquire Pinnacle in a cash and stock transaction. The company said: “These discussions may or may not lead to any transaction, and the Company does not intend…
Australia – Tribunal authorises proposed combination of Tabcorp and Tatts again
The Australian Competition Tribunal has given its approval again for the A$11.3bn merger of Australian betting giants Tabcorp and Tatts Group after the Federal Court asked for a second opinion. The second ruling was forced by rival company CrownBet has not ruled out a second appeal. The tribunal was satisfied that the proposed transaction would…
US – Merger deal over for FanDuel and DraftKings
DFS operators FanDuel and DraftKings will not challenge the US Federal Trade Commission’s decision to block a deal tying the two biggest companies in the sector together. The Federal Trade Commission the deal would create a company that would control over 90 per cent of the domestic market. FanDuel CEO Nigel Eccles said: “FanDuel decided…
