In a significant development within the mergers and acquisitions sphere, MGM Resorts International proposed a $607 million deal to acquire LeoVegas, a prominent gaming enterprise based in Sweden.
Both are active in theOntario sports betting The acquisition offer for LeoVegas is set at a value of SEK (Swedish Krona) 61, which translates to approximately $6.14 in U.S. dollars, reflecting a 44% premium in comparison to last Friday’s closing price of SEK 42.32 or roughly $4.26 in U.S. dollars.
MGM Resorts CEO Bill Hornbuckle emphasized their commitment to an 'omnichannel strategy' in his statement, articulating: 'Our aspiration is to establish ourselves as the leading gaming entertainment entity globally, and this partnership with LeoVegas represents a key opportunity for us to broaden our international footprint.'
Hornbuckle also highlighted that the strategies implemented in North America would be adapted for success in global markets.
'Our interactions with BetMGM in the U.S. have demonstrated outstanding results, and acquiring LeoVegas will enable us to amplify our digital gaming influence on a global scale,' he stated.
How Does Entain Figure In?
Established in 2011 by Gustaf Hagman and Robin Ramm-Ericson,LeoVegas is an international online gaming firm that holds licenses across eight different jurisdictions, mainly in the Nordic region and across other parts of Europe.
The timeline for accepting the offer is expected to commence around June and conclude in August. One key factor that remains uncertain is Entain's position in this scenario, as they are a joint owner of BetMGM with MGM Resorts International, and how this will impact Ontario is still to be determined.
Recent insights shared by Morgan Stanley, sourced through Sensor Tower, indicate thatBetMGM Ontario accounted for 11% of total app downloads in Ontario, while LeoVegas comprised 1%, as of April 23.
Busy Day in Ontario Sports Betting
Could this be the year that the Leafs finally manage to secure a victory in a playoff round? They face a tough challenge ahead against the Tampa Bay Lightning, with their best-of-seven series kicking off tonight at the Scotiabank Centre. Home-ice advantage could play a pivotal role for the Leafs, alongside the necessity for their youthful roster to adapt to the tougher playoff competition.
According to our friends atFanDuel Sportsbook Ontario : Bet activity on the Lightning has shifted the series price for the Leafs to -115. Currently, the Leafs are favored at -126 for tonight's game, while the anticipated lower playoff totals have adjusted the over/under to 6.5 (-122 on the under). Buch and shot artist Auston Matthews are listed at a pick 'em of -112 to score in Game 1.
FanDuel analysts have noted a surge in betting activity on various players within the Conn Smythe market, with the Avalanche players receiving the most attention and wagers well distributed among the team's top talent.
In an intriguing trend regarding betting selections,NHL betting : The Oilers are also gaining popularity among bettors and are currently substantial favorites, priced at -198 to secure victory in Game 1 and -230 favorites for their series against the Kings. The Oilers' performance has been steadily improving.
Other Sports to Bet On
After their weekend triumph over the Houston Astros, the Blue Jays are set to host the in-form New York Yankees this Monday. For Game 1 of the series, the Blue Jays are a -108 pick, with Ross Stripling taking the mound. The over/under for the game is set at 8.5 runs.
Turning to the NBA scene, even though the Raptors have exited the postseason, the Bucks are currently leading the odds at +190 to win the Eastern Conference after their victory in Game 1 against the Celtics. The Heat's odds have shifted to +200 from +150, and the Celtics have moved up to +230 from +130, while the Warriors have emerged as favorites at +110 to win the West following their Game 1 win over the Grizzlies. Meanwhile, the Suns remain at +130.
Fromdeereplanet.com
