Tag Archives: Merger
US – Federal Trade Commission says no to DraftKings/FanDuel
The Federal Trade Commission is blocking the merger of the two largest daily fantasy sports sites, DraftKings and FanDuel, alleging that the combined firm would control more than 90 percent of the US market for paid daily fantasy sports contests. The FTC, jointly with the Offices of the Attorneys General in the State of California…
US – Shareholders at Eldorado and Isle of Capri approve merger deal
Eldorado Resorts and Isle of Capri Casinos have announced that, at separate Special Meetings of Shareholders today, their respective shareholders approved certain actions in connection with Eldorado’s acquisition of Isle of Capri. The deal was announced as a definitive merger in September last year and represented a total cost of $1.7bn, inclusive of $929m of…
Chile – Enjoy and Advent deal on hold
Chilean casino operator Enjoy has temporarily suspended its agreement with Advent International. The deal was initially agreed upon in September when, after an Extraordinary General Meeting of Shareholders, Enjoy approved a capital increase which would allow its new partner, Advent International, to enter the business and develop a joint venture. According to the terms of…
US – DraftKings and FanDuel agree to merge
The world’s two biggest daily fantasy sports operators DraftKings and FanDuel have decided to merge to give themselves more chance of overcoming the cost of regulatory and legal hurdles. The companies said the merger would allow greater investment in ‘growth opportunities and an accelerated path to profitability.’ DraftKings CEO Jason Robins said: “We’re excited to…
UK – Gala Coral and Ladbrokes must sell up to 400 LBOs
The UK’s Competition and Markets Authority has ruled that Ladbrokes and Gala Coral will have to offload up to 400 licensed betting shops if they want to go ahead with their proposed £2.2bn merger. The Competition and Markets Authority said that operating more than 4,000 betting shops in the UK would create a problem but…
UK – Rank and 888 team up for punt at William Hill
Rank Group, operators of Grosvenor Casinos and Mecca Bingo has joined forces with online operator 888 Holdings, forming a consortium that aims to buy British bookmaker William Hill. The deal between Rank and 888 would create a £2bn gambling group with reports they could pay up to £3bn for William Hill. The three way deal…
US – Caesars announces amended and restated merger agreement
Caesars Entertainment Corporation and Caesars Acquisition Company have announced that they have agreed to amend the terms of their previously announced, proposed merger. Caesars Entertainment and Caesars Acquisition initially entered into a merger agreement in December 2014. The amended terms of the transaction, as set forth in an amended and restated merger agreement, were disclosed…
Latin America – Dreams and Sun complete merger with Panama approval
The Panamanian Gaming Control Board has approved the merger between Dreams and Sun International. When making the announcement the newly formed company announced that the current shareholders of Sun International Dreams would share the property with about 50 per cent each. Immediately after the merger, both sides agreed that Sun International would acquire a greater…
UK – Ladbrokes and Gala Coral to sell up to 400 bookies to see merger through
Ladbrokes and Gala Coral will have to sell 100s of land-based betting shops if the Competition and Markets Authority is to agree to their proposed merger. The Competition and Markets Authority said that between 350 and 400 bookies will have to be sold on to allow the merger of the country’s second and third biggest…
