Category: Mergers-Acquisitions
Penn Value Outcomes Include Killing ESPN Bet, Selling theScore, Says Analyst
More talk of ESPN Bet’s potential death theScore could also be sold With the stock down 13% year to date, Penn Entertainment (NASDAQ: PENN) badly needs a jolt and avenues for restoring investor confidence. Those could come in the form of divestments and killing the sagging ESPN Bet mobile sportsbook. An image for Penn Entertainment. […]
Bally’s Makes 11th-Hour Bid to Save Star Entertainment
Bally’s offering AU$250 million in financing for embattled Star Regional casino operator believes its bid is superior to Hong Kong investor offer to buy Star Brisbane Bally’s (NYSE: BALY.T) has swooped in with an 11th-hour bid to save ailing Star Entertainment, offering the downtrodden Australian casino operator AU$250 million in financing in exchange for 50.1% […]
Entain Upheaval Could Prompt Fresh MGM Bid
MGM could consider new bid for Entain following CEO exit US casino operator tried to acquire BetMGM partner four years ago Following the recent departures of three high-level executives, including now former CEO Gavin Isaacs, Entain Plc (OTC: GMVHY) could draw a new takeover bid from MGM Resorts International (NYSE: MGM), its partner on the […]
Golden Entertainment to Be Selective on Acquisitions
Strat operator says it will be choosy when it comes to deal-making Could examine opportunities in Nevada and beyond Golden Entertainment (NASDAQ: GDEN) is open to mergers and acquisitions, but executives said the casino operator will be judicious on that front. Golden Entertainment’s Strat Las Vegas. The operator could consider mergers and acquisitions, but in […]
Caesars Could Sell More Assets in Bid to Further Pare Debt
Caesars still considering noncore asset sales Deals could be harder to come by this year Caesars Entertainment (NASDAQ: CZR) indicated it remains open to selling noncore assets, including casinos, as it continues debt-reduction efforts, but warned transactions could be harder to come by this year than in 2024. Planet Hollywood Resort & Casino on the […]
Bally’s May Be Examining Star Entertainment Buy
Bally’s could be among parties interested in Star Entertainment List of potential bidders for Aussie casino operator grows Add Bally’s (NYSE: BALY.T) to the list of “vultures” that may be circling the soon-to-be carcass that is Star Entertainment. Star Entertainment’s namesake casino in Sydney. Bally’s is rumored to be interested in making a deal. (Image: […]
Light & Wonder Paying $850 Million for Charitable Gaming Assets
Light & Wonder Paying $850 million for charitable gaming business Acquired company is profitable, deal expected to close in second quarter Light & Wonder (NASDAQ: LNW) said it’s paying $850 million in cash for the charitable gaming assets of Grover Gaming, Inc. and G2 Gaming, Inc. The purchase price could increase to $1.05 billion based […]
IAC Could Boost MGM Stake, Says Diller
IAC already owns about 22% of the casino giant Diller says MGM shares are deeply undervalued IAC/InterActiveCorp (NASDAQ: IAC) could consider boosting its already sizable stake in MGM Resorts International (NYSE: MGM), according to Chairman Barry Diller. Barry Diller in a 2021 interview. He said IAC could consider lifting its stake in MGM. (Image: CNBC) […]
Monarch Casino Mulling Acquisitions, Sees Strength in Colorado
Monarch delivered strong fourth-quarter earnings on Wednesday, driving share prices higher A strong balance sheet has Monarch considering new acquisitions Monarch currently owns two properties — Atlantis in Reno and Monarch Casino in Black Hawk, Colo. Shares of Monarch Casino & Resort (NASDAQ: MCRI) surged Wednesday after the gaming company delivered fourth-quarter earnings and revenue […]
Standard General Wraps Up $4.6 Billion Bally’s Acquisition
Bally’s (NYSE: BALY) and Standard General announced today that the investor completed its $4.6 billion takeover of the regional casino operator. Standard General founder Soo Kim. The hedge fund completed its acquisition of Bally’s. (Image: Meet AC/Casino.org) Standard General, the hedge fund that’s the largest Bally’s shareholder, offered $15 a share for the gaming company […]
