Category: Mergers-Acquisitions
Cherokee Nation Chairman Says Not ‘Just Yet’ on Tribe Buying Las Vegas Casino
Cherokee Nation Entertainment, the casino gaming arm of the Native American tribe of the same name, doesn’t operate a Las Vegas venue, but it’s not opposed to the idea over the long-term. Part of the Las Vegas Strip. Cherokee Nation Gaming Commission Chairman John Sparks said it could be a little while before the Tribe…
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MGM, Caesars Supported by Strip Resilience, Penn Takeover a Stretch, Says Analyst
Las Vega Strip trends remain sturdy and that’s good news for MGM Resorts International (NYSE: MGM) and Caesars Entertainment (NASDAQ: CZR). Looking elsewhere in the gaming industry, a near-term takeover of Penn Entertainment (NASDAQ: PENN) appears unlikely. The Las Vegas Strip at night. An analyst is bullish on Strip giants MGM and Caesars. (Image: Getty)…
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Accel Entertainment Buys Fairmont Holdings for $35M in Stock
Accel Entertainment (NYSE: ACEL) announced the acquisition of Fairmont Holdings for $35 million in equity, adding a horse racetrack to the video gaming terminal (VGT) firm’s portfolio of assets. Horses break from the starting gate during a race at FanDuel Sportsbook & Horse Racing in Collinsville, Ill. Accel Entertainment is acquiring operator Fairmont Holdings for…
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Mazaii to Be Acquired by Las Vegas SPAC in $500 Million Deal
Mazaii, a Canadian provider of iGaming games and solutions, will be acquired by blank-check firm Relativity Acquisition Corp. (NASDAQ: RACY) in a deal valuing the target at an initial enterprise value of $500 million. The Mazaii logo. The iGaming tech firm is merging with SPAC Relativity Acquisition Corp. (Image: PR Newswire) The deal signals there’s…
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Rush Street Interactive Sale Could Be Imminent, According to Report
The long rumored sale of Rush Street Interactive (NYSE: RSI) could materialize in two months or less, according to a recent report. A Rush Street Interactive advertisement. The company could be acquired in the weeks ahead, according to a report. (Image: X) Citing unidentified sources, the Off Shore Gaming Association (OSGA) noted that a deal…
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Bally’s Plugs Chicago Casino Funding Gap in $2B Deal with GLPI
Shares of Bally’s (NYSE: BALY) surged Friday after the gaming company announced it will strike deals with Gaming and Leisure Properties (NASDAQ: GLPI) for an aggregate of $2.07 billion in financing. That closes an $800 million shortfall the operator faced on its Chicago casino hotel project. Bally’s temporary casino in Chicago. The operator announced a…
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Macau’s 13 Hotel Quietly Reopens After Sale Flounders
The 13 Hotel in Macau has reopened in a limited capacity after the resort’s parent company failed to find a buyer for the $1.6 billion financial catastrophe. The 13 Hotel in Macau. The resort designed for high-end travelers reopened recently after sitting closed for more than four years. (Image: Ticati) TDM Radio Macau broke the…
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Casino REIT Stocks Could Improve as Interest Rates Stabilize
Shares of VICI Properties (NYSE: VICI), and Gaming and Leisure Properties (NASDAQ: GLPI), the two largest casino landlords, are off an average of 11.27% year to date while the S&P 500 is higher by 16.69%. But, some analysts believe gaming real estate investment trusts (REITs) could soon deliver better performances. Harrah’s on the Las Vegas…
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Caesars Boosts Sports Betting Tech with ZeroFlucs Acquisition
In a move aimed at bolstering its sportsbook technology, Caesars Entertainment (NASDAQ: CZR) said today it is acquiring ZeroFlucs Group Pty Ltd. Visitors entering Caesars Palace Las Vegas. The operator is acquiring ZeroFlucs to add to its sports betting tech stack. (Image: David Paul Morris/Bloomberg) The Australian company is a software provider whose products allow…
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Penn Pops on Rumor of Flutter Joining Boyd in Takeover Bid
On a mixed day for gaming stocks, Penn Entertainment (NASDAQ: PENN) rallied 4.70% on a report that Flutter Entertainment (NYSE: FLUT) is considering joining Boyd Gaming (NYSE: BYD) in a takeover bid for the regional casino operator. The Flutter logo as seen in an investor deck. Reports surfaced that the gaming company could join Boyd…
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