MGM, Fanatics Could Be Buyers if Sports Betting M&A Heats Up

Analysts widely expect consolidation inward the sports wagering industry to deepen this year, noting MGM Resorts International (NYSE: MGM) and Fanatics could be among the potentiality buyers.

Following dismal showings by sports wagering equities in the latter stages of 2021 and over last-place year, the industry’s increasing focal point on profitability and rock-bottom promotional spending is stoking renewed investor enthusiasm. Those factors also potentially conduce to a impudent flesh out of mergers and acquisitions activity inward the space.

Subject to marketplace conditions, i would anticipate to view a flurry of M&A activity in 2023 in the online gaming blank in the US and abroad,” said Ramy Ibrahim, managing theater director advising gaming and other industries at investment bank Moelis & Company, inward an question with Insider.

Analysts and strategists interviewed by the publication theorize that the world-wide sports wagering industry could be awash inward marquee transactions, including mergers and acquisitions, as 2023 unfolds. Some are familiar, piece others are unlikely to materialize.

BetMGM, Fanatics Drive Sports Betting Deal-Making

Analysts believe BetMGM and Fanatics testament likely follow among the magnanimous names driving deal-making in the sports wagering infinite this year.

In the pillow slip of BetMGM, consensus is rising that MGM Resorts International could displace to buy come out Entain’s (OTC: GMVHY) bet in the internet casino and online sportsbook operator. That’s not a stretch, because it’s more frugal than purchasing Entain outright — a trade MGM executives recently said isn’t in the offing. Each company owns 50% of BetMGM.

Likewise, in private held Fanatics — long committed to a slew of manufacture integration rumors — could finally get an acquisition aimed at bolstering its sports wagering footprint. The troupe isn’t opposed to deals, but has yet to run forrad with a sports betting-related transaction.

Consolidation in the manufacture this year may drive home to a greater extent transactions comparable to DraftKings’ (NASDAQ: DKNG) purchase of Golden Nugget Online Gaming, or check suitors get deals to get into specific markets or regions, according to Insider.

Other Interesting Deal Possibilities

In increase to a possible undulation of consolidation, the sports wagering manufacture may ascertain other marquee transactions this year. Those could include Fanatics commencing an initial public offering (IPO) and FanDuel parent Flutter Entertainment (OTC: PDYPY) itemisation its shares inwards New House of York to broaden its investor base.

Flutter direction already noted that such a displace would accept precedency o'er potentially spinning sour a portion of FanDuel to public investors.

As Insider reported, other freehanded transactions could come up in the organize of European sports betting behemoth Bet365 entering the US market, and Hard Rock International looking for to long pillow its iGaming/sports betting footprint inwards some form.

Hard John Rock is the gaming surgical procedure of the Seminole Tribe of Florida. Beyond land-based casinos inwards its place state, the fellowship operates brick-and-mortar venues in a change of other states, including Nevada, New Jersey, and Ohio — from each one of which has thriving sports wagering markets.

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