{"id":680,"date":"2022-09-10T23:14:39","date_gmt":"2022-09-10T20:14:39","guid":{"rendered":"https:\/\/xxbet-company.com\/entain-ceo-says-company-is-more-buyer-than-seller\/"},"modified":"2022-09-10T23:14:39","modified_gmt":"2022-09-10T20:14:39","slug":"entain-ceo-says-company-is-more-buyer-than-seller","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/de\/entain-ceo-says-company-is-more-buyer-than-seller\/","title":{"rendered":"Entain CEO Says Company Is More Buyer than Seller"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Inhaltsverzeichnis<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/de\/entain-ceo-says-company-is-more-buyer-than-seller\/#Entain_CEO_Walking_the_Walk\" title=\"Entain CEO Walking the Walk\">Entain CEO Walking the Walk<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/de\/entain-ceo-says-company-is-more-buyer-than-seller\/#Whats_Next_for_EntainMGM_Relationship\" title=\"What\u2019s Next for Entain\/MGM Relationship\">What\u2019s Next for Entain\/MGM Relationship<\/a><\/li><\/ul><\/nav><\/div>\n<p>Since early 2021 when MGM Resorts International (NYSE:MGM) offered more than $11 billion for the company, Entain Plc (OTC:GMVHY) has been viewed as one of the gaming industry\u2019s top takeover targets, but the Ladbrokes owner sees itself more as hunter than prey.<\/p>\n<figure aria-describedby=\"caption-attachment-231223\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-231223 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-142x80.jpg\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-142x80.jpg\" alt=\"Entain\" width=\"1200\" height=\"675\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-1536x864.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain.jpg 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-231223\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-142x80.jpg\" alt=\"Entain\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain-1536x864.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/entain.jpg 2048w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Entain CEO Jette Nygaard-Andersen at an investor presentation. She\u2019s the company isn\u2019t for sale. (Image: <em>Sky News<\/em>)<\/figcaption><\/figure>\n<p>Later in 2021, merger talks between Entain and DraftKings (NASDAQ:DKNG) dissolved after the latter floated <a href=\"https:\/\/www.casino.org\/news\/draftkings-pursuit-of-entain-leads-to-plenty-of-questions-says-analyst\/\" rel=\"nofollow noopener\" target=\"_blank\">a $22.4 billion cash and equity offer<\/a> after previously offering $20.5 billion. After fending off the barbarians at the gate, Entain CEO Jette Nygaard-Andersen sees her company positioned as more buyer than seller.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>We\u2019re not a business that\u2019s for sale,\u201d she said in a<em> Bloomberg<\/em> interview. \u201cI\u2019m very focused on growing this business. I see Entain as the consolidator.\u201d<\/p>\n<\/blockquote>\n<p>Her comments could quash hopes that MGM would return to the bargaining table with an elevated offer for its BetMGM partner. The two gaming companies each control 50% of what is the top iGaming provider in the US and one of the largest online sportsbook operators.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Entain_CEO_Walking_the_Walk\"><\/span>Entain CEO Walking the Walk<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When it comes to Entain\u2019s position as buyer not target, Nygaard-Andersen is backing up that assertion with plenty of action.<\/p>\n<div class=\"callout\">\n<p>This year, the Coral owner is one deal-making spree of its own, acquiring at least five gaming companies for more than $1 billion combined. Last month, Entain announced it is acquiring 75% of <a href=\"https:\/\/www.casino.org\/news\/entain-sets-its-sights-on-croatia-as-expansion-into-eastern-europe-commences\/\" rel=\"nofollow noopener\" target=\"_blank\">Croatia-based SuperSport Group<\/a>. In February, Entain announced it\u2019s paying nearly $235 million to acquire Deis Ltd., the parent company of Avid Gaming. It\u2019s an effort to bolster its footprint in Canada\u2019s newly liberalized sports wagering market.<\/p>\n<\/div>\n<p>Those are just two examples, but those transactions underscore the point that if Entain was actively shopping itself, it likely wouldn\u2019t be on a buying binge of its own.<\/p>\n<p>The operator\u2019s shopping spree serves another end. With the added heft and potential share price increases, <a href=\"https:\/\/www.casino.org\/news\/entain-buying-binge-could-ward-off-mgm-other-buyers\/\" rel=\"nofollow noopener\" target=\"_blank\">Entain becomes more expensive<\/a> for MGM or any other suitor. <strong>Some analysts believe it would take at least a 20% premium to its current market capitalization to get Entain to the negotiating table, but that price, owing to the stock\u2019s decline this year, is below what MGM previously offered and less than half DraftKings\u2019 bids.<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whats_Next_for_EntainMGM_Relationship\"><\/span>What\u2019s Next for Entain\/MGM Relationship<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MGM executives have made clear they\u2019d love to have full control of BetMGM. It\u2019s not of the realm of possibility that dream could be realized, but the casino operator would <a href=\"https:\/\/www.casino.org\/news\/mgm-could-make-another-bid-for-entain-says-citi-analyst\/\" rel=\"nofollow noopener\" target=\"_blank\">need to make an attractive offer<\/a> to get Entain interested.<\/p>\n<p>Even that might not be enough for the UK-based gaming company. In the <em>Bloomberg <\/em>interview, Nygaard-Andersen waxed bullish on the 2022 US football season and amid a regulatory crackdown in its home market, the geographic diversification attributable to the BetMGM stake is compelling for Entain and its shareholders.<\/p>\n<p><strong>Though undoubtedly less than the price of acquiring Entain outright, buying it out of BetMGM wouldn\u2019t come cheap due to the sportsbook operator\u2019s increasing market share and the fact that it\u2019s nearing profitability.<\/strong><\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-says-company-isnt-for-sale\/\" target=\"_blank\">Entain CEO Says Company Is More Buyer than Seller<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Since early 2021 when MGM Resorts International (NYSE:MGM) offered more than $11 billion for the company, Entain Plc (OTC:GMVHY) has been viewed as one of the gaming industry\u2019s top takeover targets, but the Ladbrokes owner sees itself more as hunter than prey. Entain CEO Jette Nygaard-Andersen at an investor presentation. She\u2019s the company isn\u2019t for <a href=\"https:\/\/xxbet-company.com\/de\/entain-ceo-says-company-is-more-buyer-than-seller\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/680"}],"collection":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/comments?post=680"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/680\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media\/681"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media?parent=680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/categories?post=680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/tags?post=680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}