MGM Resorts Seeks Majority Control of BetMGM
Breaking News:
MGM Resorts International (MGM) has announced its intention to gain majority control of its online betting joint venture, BetMGM. This move comes amid speculation that DraftKings Inc. (DKNG), one of the leading online gambling operators in the US, may make an offer for Entain, BetMGM's European partner.
Key Points:
- MGM Resorts aims to increase its ownership stake in BetMGM, which is currently held jointly with other gaming companies, including Ballys Corporation, DraftKings, Entain, and FanDuel.
- BetMGM is a major player in the US online gambling market, ranked third behind FanDuel and DraftKings.
- MGM has stated that it has no plans to sell its stake in BetMGM, despite rumors of DraftKings' interest in Entain.
- The move by MGM reflects the growing importance of online gambling in the gaming industry, with operators seeking ways to expand their market share and revenues.
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