Category: Mergers-Acquisitions

Emmett Opposes PlayAGS Takeover Bid, Says Brightstar Offer Undervalues Company

Emmett Investment Management, a money manager focusing on mid- and small-cap stocks, penned a letter to PlayAGS (NYSE: AGS) investors on Tuesday telling them they should oppose the $1.1 billion takeover offer floated on May 9 by Brightstar Capital Partners. A slide from a PlayAGS investor presentation. Emmett Investment Management is opposing Brightstar Capital’s takeover…

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Former Rank Group CEO Henry Birch Eyed for Entain Job

Online gambling giant Entain is considering the appointment of the ex-CEO of Britain’s biggest land-based casino group as a replacement for previous boss Jette Nygaard-Andersen, who resigned late last year. Henry Birch, above, addressing the Retail Week Live conference while CEO of the Very Group. He is believed to be one of a few names…

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MGM Will Be Held to Host City Agreement in Possible Springfield Casino Sale, Say Officials

Nearly two months ago, reports surfaced that MGM Resorts International (NYSE: MGM) is mulling the sale of its regional casinos in Ohio and Springfield, Mass. Officials in the Massachusetts city said they intend to hold the gaming company to the terms of the host city agreement should a transaction materialize. MGM Springfield. City officials said…

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Golden Entertainment Sees Buybacks Preferable to Nevada Acquisitions

Golden Entertainment (NASDAQ: GDEN) dramatically reduced debt while announcing its first-ever quarterly dividend. Such efforts, including share buybacks, could be the casino operator’s preferred avenues for returning capital to shareholders rather than acquiring gaming venues in Nevada. Golden Entertainment’s Arizona Charlie’s Casino. The operator prefers share buybacks over Nevada acquisitions. (Image: Las Vegas Review-Journal) Last…

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PlayAGS Soars on Deal to Be Acquired by Brightstar for $1.1B

Shares of slot machine maker PlayAGS (NYSE: AGS) surged 26.56% Thursday on volume that was 35 times the daily average after the company said it has agreed to be acquired by Brightstar Capital Partners for $1.1 billion. PlayAGS slot machines, seen above. The company is being acquired by Brightstar Capital for $1.1 billion. (Image: PlayAGS)…

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Caesars Open to Selling ‘Non-Core’ Casinos to Reduce Debt

Shares of Caesars Entertainment (NASDAQ: CZR) rebound Wednesday from a post-earnings report slide late Tuesday and the gaming company’s reiterated commitment to reducing debt could be one reason behind today’s bounce back by the stock. Caesars CEO Tom Reeg in a 2021 CNBC interview. He said the company is open to parting with “non-core” assets.…

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Tipico Mulling Sale of US Sportsbook, MGM Rumored Suitor

German sportsbook operator Tipico is reportedly evaluating a sale of its US operations and rumors are circulating that MGM Resorts International (NYSE: MGM) could be a suitor. An ad for Tipico Sportsbook. The company is reportedly a takeover target and MGM is rumored to be interested. (Image: Tipico) Tipico is majority owned by CVC Capital…

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GLPI Execs Say Tropicana Met Usefulness, Interested in Bally’s Chicago

On the real estate company’s first-quarter earnings conference call, Gaming and Leisure Properties (NASDAQ: GLPI) executives signaled the recently Tropicana Las Vegas met its shelf life and the fate of the venue operating as a casino resort wasn’t in the long-term cards. A slide from a Gaming and Leisure Properties presentation. The REIT is open…

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Inflation, Interest Rates Weighing on Gaming Industry M&A, Says Analyst

Entering this year, it was widely expected that the Federal Reserve would pare interest rates from 20-year highs, potentially unleashing a wave of mergers and acquisitions activity in the casino gaming industry, but that scenario hasn’t materialized. The Las Vegas Strip. High interest rates are weighing on gaming industry mergers and acquisitions activity, says an…

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Jacobs Entertainment Sells Reno’s Oldest House for One Dollar

Jacobs Entertainment has sold what is believed to be among the oldest homes in Reno for just one dollar. The historic home located at 347 West St. in Reno has been sold for a dollar after Jacobs Entertainment paid $1.2 million for the property in January. The buyers agreed to relocate the home, which is…

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