By TheNuts - Jan 04, 2021
MGM Looking To Buy PartyPoker
According to today’s Wall Street Journal, MGM Resorts International is trying again to buy PartyPoker owner Entain PLC, which turned down MGM’s earlier offer of $10 billion in cash. Entain is the new name for GVC Holdings, which also owns bwin, Coral, Ladbrokes, Sportingbet and several other online gaming brands and operates over 3000 betting shops throughout the UK and is licensed in over 18 countries. MGM owns several casinos in the USA, including MGM Grand in Las Vegas, Borgata in Atlantic City, National Harbor in Baltimore and MGM Macau in China.
MGM and Entain are already in business together via the BetMGM online gaming site, which uses Entain technology. When online gambling was legalized in New Jersey, PartyPoker provided the backend technology used by Borgata.
In an email sent to TheNuts on December 9th, 2020, Entain explained their name change:
GVC Group is being re-branded as Entain PLC.
In turn, GVC Affiliates will become Entain Partners.
We want to start a revolution in our industry.
A revolution that dares to change the face of gambling. That combines technology and entertainment to create exciting products and experiences that push the boundaries and protect players like never before. We have the power to make this happen and we’re not afraid to do it.
We will transform our sector for our players, for ourselves and for the good of entertainment.
In a sign of things to come, Caesar’s Entertainment purchased William Hill in September 2020, beating out several rival bids.
The irony of all this is that the biggest opponents to online gambling over the last 15 years in the USA have been the brick & mortar casino operators. It appears the loss of traffic caused by Covid-19 and the explosive growth of online gaming has changed their minds.
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