The U.S. gambling industry is still recovering from the effects of the 2008 recession, but it’s not too late to take advantage of opportunities in this space. With a well-established brand and the backing of an experienced management team, Entain has positioned itself as one of the leading gaming companies in Europe.
DraftKings is attempting to acquire the parent company of Partypoker for $3.6 billion.
On Tuesday, it was announced that DraftKings had made a bid to buy Entain, the parent company of partypoker, for $20 billion. If the offer is approved, the transaction will provide ROAR Digital, which operates the partypoker US Network, some intriguing dynamics.
In the United States, ROAR is a collaboration between Entain and MGM Resorts. In addition to sports betting, the business is a global leader in online gambling.
In the event of a transaction, DraftKings would own a piece of a significant rival in the US market. That’s something Entain has previously considered, and any prospective purchase would require a resolution of that issue.
In a statement to CNBC, MGM stated that any deal involving Entain or its affiliates owning a rival firm in the United States would need MGM’s approval. “As necessary, MGM will work with Entain and DraftKings to find a solution to the exclusivity agreements that satisfies the goals of all parties.”
Get your $25 bonus for joining BETMGM Poker right now.
When you sign up, you will get a $25 bonus.
Bonus of up to $1,000 on your first deposit
Partner at Borgata in New Jersey
Use the following bonus code: PLAYNJFREE
A look of partypoker’s activities in the United States
A deal between the two firms may have some interesting ramifications for the US poker market. The Partypoker US Network uses the following poker skins to provide legal, regulated online poker in three states:
All states in the network function in a “ringed-in” environment, which means that each state competes with its neighbors. However, when states complete interstate compacts, such player pools may be merged.
The impact of a possible DraftKings-Entain merger on the US poker market remains to be seen. MGM’s partner in the US business might be bought out in one scenario. MGM attempted to take out Entain earlier this year with an all-stock bid of $11 billion.
DraftKings has now raised the ante for Entain by offering a combination of stock and cash. CNBC estimates the worth at $20 billion, but other news organizations disagree. Some in the business think Entain is overvalued in the offer.
Other factors to consider
In any case, there are repercussions for the regulated online poker industry in the United States. Could all of ROAR Digital be added to DraftKings? That seems improbable, given that the firm already operates a significant sports betting platform in the United States.
MGM may not be able to justify giving up its own sports betting and online gaming platform. Sports betting is now legal in 25 states, as well as Washington, D.C., and the firm is optimistic about the future of the sector.
DraftKings would grow into a multibillion-dollar sports betting, online gaming, and online poker company. Partypoker is one of the largest online poker businesses in the world, having a platform that is accessible in a number of countries.
During the epidemic, the business enjoyed rapid expansion, which was shared by others in the industry. The World Poker Tour World Online Championships were recently held on the site by Party Poker.
This continues a collaboration with the tour, which is also taking place in the United States. The WPT Online Borgata Poker Open concluded in New Jersey on Tuesday, with Orson Young winning the tournament for $195,748.
Now is the time to join Borgata Poker and get a free $25 bonus when you sign up.
No Deposit Bonus of $25
On deposit, you may get a 100% bonus up to $600.
Use the following bonus code: PLAYNJ
Poker has a long history.
Partypoker was founded in 2001 by Mike Sexton, a member of the Poker Hall of Fame. During the poker boom, the business expanded rapidly, and GVC Holdings (now known as Entain) purchased the brand in 2016 for $1.1 billion.
The business has a long history with the WPT collaboration. From 2009 until 2015, Party/GVC controlled the WPT before selling it to Ourgame International for $35 million.
While sports betting and online casino betting are the major attractions, online poker may be a good fit for DraftKings. Millions of Party gamers are now prospective DraftKings clients.
Using the other services is easy because to seamless connectivity between poker, sports, and casino games. Anything is still conjecture at this point, and it will be fascinating to see whether Entain accepts the offer. In the meanwhile, the MGM/US problem must be resolved before proceeding.
★★★ Looking to join the partypoker US Network action? Click here for a detailed analysis of the site as well as special bonus offers from USPoker. There are also reviews and bonus offers for BetMGM and Borgata Poker. ★★★
Fanduel is a company that offers daily fantasy sports games. On October 8th, 2018, the company announced it would be attempting to acquire the parent company of Partypoker for $1.3 billion dollars. Reference: fanduel stock name.
- who owns fanduel stock
- flutter entertainment stock
- fanduel stock ipo
- draftkings merger
- draftkings stock