The owner of British bookmakers Ladbrokes and Coral, Entain, has been approached by MGM Resorts to deliver a sportsbook offering in the US.
However, Entain has rejected the £8.1 billion offer for the group, giving MGM Resorts until Feb 1 to come back to the table with a new offer or walk away.
If the pair do manage to come to an agreement, it would give MGM Resorts a massive advantage in the US Sportsbook world.
Entain rejects offer from MGM days before the final deadline!
American Sportsbook World is About to Boom
The American Sportsbook scene is just taking off, after New Jersey was allowed to offer Sportsbook betting back in 2018.
As of December 2020, 20 states have put regulations in place to allow Sportsbooks to operate in their states.
MGM Resorts is looking to get in arguably the biggest name in the Sportsbook world to help direct their exploration into the scene.
The rejected deal is worth a cool £8.1 billion, and would give Entain shareholders a 41.5% ownership of MGM, which would be huge.
If MGM can come back to the table with a new offer and Entain accepts, it would create a Sportsbook superpower in the US, a force to be reckoned with.
It would bolster BetMGM, MGM’s latest betting application, and give it a massive advantage over the other Sportsbooks operating in the US.
Caesars is expected to finish up a deal with William Hill worth £2.9 billion, giving Caesars a running start into the Sportsbook world.
William Hill is one of the biggest names in the British Sportsbook world, but Ladbrokes and Coral pip William Hill to the post for the Sportsbook crown.
If MGM can scoop up Entain, it would certainly put MGM back in the driving seat and let MGM rule the American Sportsbook world with a huge edge over the competition.
Casinos Still Suffering in the US
Unfortunately, casinos in the USA are still suffering heavily due to COVID-19.
Las Vegas has cut casino capacity down to 25%, with a view to keep this momentum going for the foreseeable future.
Other states have issued similar requests to casinos, or forced them to close down completely.
While many are trying to pivot to online offerings, the few casinos that are hoping for COVID measures to ease off are taking a massive hit.
If the situation doesn’t improve any time soon, we could see a total collapse of the smaller land-based casino brands, which would be devastating to local economies.
Macau is also suffering heavily, with its GGR down more than 70% in 2020. This has forced the gambling-focused SAR to look at diversifying into family friendly entertainment.
These new entertainment venues will include parks, water parks, open spaces and recreational areas, with the government hoping that tourism picks up with a different crowd, keeping the SAR afloat during times of crisis.
COVID has taken a huge toll on the land-based casinos, but online and Bitcoin casinos have flourished.
We’ve seen the biggest promotions ever go live and we’ve even seen some insane welcome bonuses emerge.
It’s safe to say that online and Bitcoin casinos have picked up the vast majority of players that can no longer head to their local casino for some reel action!
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