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Mergers and Acquisitions News

Disney Now Part Owner of DraftKings After 20th Century Fox Acquisition

The Walt Disney Company is now a part owner of DraftKings. When the global media giant announced its $71 billion acquisition of 21st Century Fox two months ago, it also received Fox’s share of the daily fantasy sports company, which started its own sportsbook in August. The news was first reported by John Wall Street,…Read More

MGM in Talks to Buy $2.6 Billion Encore Boston Harbor from Wynn Just Weeks Before Grand Opening

Encore Boston Harbor

Wynn Resorts is mulling the sale of its $2.6 billion Encore Boston Harbor in Everett, Massachusetts, to MGM Resorts. The two companies confirmed a sale could be in the cards in a joint press release late Friday after The Boston Globe reported discussions between Wynn CEO Matt Maddox and MGM CEO Jim Murren had kicked…Read More

New Acquisitions Shine as Stars Group Posts 48 Percent Growth in Q1

Stars Group

Analysts were swooning over Stars Group stock this week following an earnings update that saw the PokerStars parent book Q1 revenues of $580 million, up 48 percent year over year. The Motley Fool pounced on Thursday, designating Stars a “very hot buy,” despite a slump for PokerStars and an overall 63 percent dip in earnings…Read More

Blackstone Planning IPO for Spanish Casino Giant Cirsa, Private Equity Group Invests in Superbet

Blackstone Group Cirsa casino IPO

The Blackstone Group, one of the world’s largest private equity firms that has long been invested in the gaming industry, is considering an IPO offering for its Spanish casino giant Cirsa. The New York-based asset management and investment firm acquired Cirsa in April 2018 for an undisclosed sum, but the casino operator’s asking price was…Read More

Fox Sports Buys $236 Million Chunk of Stars Group, Will Be First US Broadcaster to Offer Sports Betting

Fox Sports

Shares in Stars Group skyrocketed 11 percent Wednesday on the news that Fox Sports has pledged to invest $236 million for a 4.99 percent share of the the PokerStars parent. As part of the deal, the Rupert Murdoch-controlled Fox will have the option to acquire up to 50 percent of Stars Group in ten years’…Read More

Billionaire Phil Ruffin Interested in Buying Caesars Entertainment Las Vegas Strip Properties

Phil Ruffin Caesars Entertainment Treasure Island

Treasure Island owner Phil Ruffin has confirmed he’s exploring a potential takeover of Las Vegas casino resorts currently owned by Caesars Entertainment. The 84-year-old billionaire – estimated by Forbes to be worth $2.8 billion – told the Las Vegas Review-Journal recently that his company is positioned well to acquire some of Caesars’ properties located on…Read More

New Casinos and Healthy Downtown Las Vegas Boost Boyd Gaming Earnings

Boyd Gaming

A vibrant downtown Las Vegas casino market and new acquisitions in the Midwest and South region helped propel Boyd Gaming to Q1 revenue growth of 36.5 percent, at $827.3 million, while net income rose 9.8 percent to $45.5 million. While visitors to Las Vegas piled into Fremont St, boosting revenues by 4.2 percent to $63…Read More

Failed Lucky Dragon Casino Sold for $36 Million to Become Non-Gaming Hotel

Lucky Dragon Casino

Doomed off-Strip casino project Lucky Dragon was sold for $36 million Monday to a developer who wants to turn the building into a non-gaming hotel and conference space. Don Ahern – who is the chairman and CEO of Ahern Rentals, a Las Vegas-based firm that hires out heavy construction equipment – confirmed to the Las…Read More

Scientific Games Continues Focus on Sports Betting With New Portfolio of Applications

Scientific Games Corp. announced late last week the launching of a suite of products for use by sportsbooks. The company, which processes more online sports bets than any other company, said in a statement that OpenSports is a slate of products designed to help enhance the experience for the customers of their sportsbook clients. In…Read More

Carl Icahn Ally Tony Rodio Named New Caesars Entertainment CEO

Tony Rodio

Veteran casino executive Tony Rodio was formally announced as the new CEO of Caesars Entertainment early Tuesday, confirming rumors that had been swirling since Sunday night. Rodio, who last year was appointed CEO of Affinity Gaming, is a longtime right-hand man to Carl Icahn, the billionaire activist investor who has acquired around 20 percent of…Read More

MGM Resorts Enters Ohio Gaming Market as MGM Northfield Park Opens Its Doors

Northfield Park

From Wednesday, gamblers visiting the Northfield Park racino, near Cleveland, will be greeted by a seven-foot-tall statue of Leo the Lion. That’s because the track, known as “the Home of the Flying Turns” and for its motto “Every nineteen minutes the place goes crazy,” is now an MGM Resorts property. Formerly the Hard Rock Rocksino Northfield Park,…Read More

Wynn Resorts Fires Security Chief James Stern Over Steve Wynn Spying Admission

Wynn Resorts

Wynn Resorts has fired its VP of corporate security, James Stern, following his testimony in front of the Massachusetts Gaming Commission (MGC) that he spied on former employees on behalf of the company’s disgraced former chairman and CEO, Steve Wynn. The Associated Press reports that the Wynn CEO Matt Maddox informed the MGC Tuesday that…Read More

Wynn Resorts Makes $7.1 Billion Play for Australia’s Crown Resorts (But Not for Long)

Crown Resorts

UPDATE 10:00 am PT April 9 — It’s a “thanks but no thanks” from Wynn Resorts to Crown, after the potential buyer walked away in a huff following the leaked revelations of a possible merger hit the media. The Associated Press in Sydney, Australia — where Crown is located — published the following less-than-friendly statement…Read More

Hard Rock to buy JACK Cincinnati Casino, Turfway Park in $780M Deal

JACK Entertainment LLC announced on Friday morning that it reached an agreement to sell its casino in Cincinnati, Ohio and Turfway Park, a horse racing facility in northern Kentucky, to Hard Rock International. Parties involved in the $780 million deal expect it to close later this year. The sale also will require regulatory approvals at…Read More

Caesars Entertainment and Eldorado Resorts in Reported Merger Talks

Caesars-Eldorado merger

Caesars Entertainment and Eldorado Resorts have initiated merger negotiations, according to Reuters. The news agency cited “sources familiar with the matter” who said Sunday the two casino operators were in the early stages of talks “exploring the possibility” of a combination. Caesars is understood to have provided Eldorado with a limited amount of sensitive financial…Read More