{"id":237994,"date":"2022-10-17T16:50:13","date_gmt":"2022-10-17T21:50:13","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=237994"},"modified":"2022-11-18T06:36:24","modified_gmt":"2022-11-18T12:36:24","slug":"mgm-resorts-could-make-another-acquisition-offer-for-entain","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/","title":{"rendered":"MGM Eventually Could Rebid for Entain"},"content":{"rendered":"

Entain Plc\u2019s (OTC:GMVHY) recently revealed third-quarter results were in line with analysts\u2019 expectations. But the eye catching detail in that report is growth at the BetMGM unit. Some experts believe that could compel MGM Resorts International (NYSE:MGM) to eventually revisit a takeover bid for the British gaming company.<\/p>\n

\"MGM
MGM Grand on the Las Vegas Strip. Operator MGM could make a run at buying Entain. (Image: YouTube)<\/figcaption><\/figure>\n

In its third-quarter trading report, Entain noted net gaming revenue (NGR) growth at BetMGM was a stellar 90%, surging to $400 million. Additionally, the online sportsbook operator is maintaining an approximately 23% market share in the marquee states in which it does business, including the ultra-competitive New York market.<\/p>\n

Earlier this year, BetMGM, which is controlled on a 50\/50 basis by the casino operator and Entain, revealed it\u2019s the largest internet casino<\/a> company in the US and the second-largest online sportsbook firm. Within the investment community, it\u2019s widely believe those are among the reasons why MGM could, in the future, make another offer for Entain.<\/p>\n

RoundHill Investments co-founder Will Hershey recently described BetMGM as a \u201ccrown jewel\u201d for MGM, noting it\u2019s possible the casino giant will eventually make another run at Entain. He didn\u2019t mention a specific time frame for such a move, and acknowledged the current market environment isn\u2019t conducive to large-scale mergers and acquisitions.<\/strong><\/p>\n

MGM\/Entain Marriage Not Impossible, But Difficult<\/h2>\n

In January 2021, the Las Vegas-based casino operator bid $11.06 billion for Entain.<\/a> But the British bookmaker said the offer wasn\u2019t adequate<\/a>. MGM didn\u2019t publicly up its offer, and the talks ultimately fell apart.<\/p>\n

\n

Here\u2019s part of the problem for MGM or any other prospective suitor for Entian: Later in 2021, DraftKings (NASDAQ:DKNG) offered north of $22 billion for the Ladbrokes owner. The target didn\u2019t accept that proposal, either, but that could be the new floor to get the Coral owner to the bargaining table. That means the pool of potential buyers is tiny.<\/p>\n<\/div>\n

Should it bid anew for Entain, MGM has the advantages of the US dollar being strong against the British pound and the possibility that Barry Diller\u2019s IAC\/InterActiveCorp<\/a> (NASDAQ:IAC) — MGM\u2019s biggest shareholder — could provide some financing for the deal.<\/p>\n

However, more capital is likely needed and lenders might not want to extend massive amounts of credit to gaming companies amid a rough macroeconomic backdrop. Additionally, Entain\u2019s been on a buying spree of its own, adding bulk that could ward off interested suitors.<\/p>\n

World Cup Look Ahead<\/h2>\n

Roundhill\u2019s Hershey noted the World Cup could provide a boost to European sportsbook operators, including Entain. Owing to Qatar being the host nation, the storied football competition runs from Nov. 20 to Dec. 18.<\/p>\n

The event is usually played in the summer at a time when the US sports calendar is slow. But this year, the World Cup will be competing with college football, the NFL, the NBA and college basketball, indicating it could be a nice assist, but not a needle-mover for BetMGM and other domestic sportsbook operators.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Entain Plc\u2019s (OTC:GMVHY) recently revealed third-quarter results were in line with analysts\u2019 expectations. But the eye catching detail in that report is growth at the BetMGM unit. Some experts believe that could compel MGM Resorts International (NYSE:MGM) to eventually revisit a takeover bid for the British gaming company. In its third-quarter trading report, Entain noted […]<\/p>\n","protected":false},"author":46,"featured_media":237997,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,1],"tags":[81903,81966,81967],"acf":[],"yoast_head":"\nMGM Resorts Could Make Another Acquisition Offer For Entain<\/title>\n<meta name=\"description\" content=\"MGM could mull another offer for Entain, but it could take awhile.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Resorts Could Make Another Acquisition Offer For Entain\" \/>\n<meta property=\"og:description\" content=\"MGM could mull another offer for Entain, but it could take awhile.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-17T21:50:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-18T12:36:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/MGMG.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/\",\"name\":\"MGM Resorts Could Make Another Acquisition Offer For Entain\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/MGMG.jpg\",\"datePublished\":\"2022-10-17T21:50:13+00:00\",\"dateModified\":\"2022-11-18T12:36:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM could mull another offer for Entain, but it could take awhile.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-could-make-another-acquisition-offer-for-entain\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/MGMG.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/MGMG.jpg\",\"width\":1280,\"height\":720,\"caption\":\"MGM Grand on the Las Vegas Strip. 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