• Loading stock data...
Saturday, August 2, 2025
Tuned In returns to NYC on September 16. Hear from the biggest names in sports media. Click here to get your spot

MGM Seeks Full Control of BetMGM

  • MGM Resorts will seek to gain full control over BetMGM if DraftKings is successful in purchasing Entain.
  • DraftKings made a $22.4 billion bid for Entain.
BetMGM/Design: Alex Brooks

A $22.4 billion acquisition in the sports betting industry could set off a domino effect.

MGM Resorts will seek to gain control of its U.S.-based sports betting venture BetMGM if DraftKings succeeds in purchasing Entain.

DraftKings made a $22.4 billion bid for the British sports betting giant, and must present a formal offer for the company by Oct. 19, per United Kingdom regulations.

Entain and MGM Resorts each own 50% of BetMGM. Under the terms of the shared-ownership agreement, a new owner of Entain would need MGM’s approval before operating BetMGM in the U.S.

  • “We have 50% now. I would like more. I would need more,” MGM Resorts CEO Bill Hornbuckle said on Tuesday at the Global Gaming Expo.
  • BetMGM is expected to bring in over $1 billion in revenue next year.
  • MGM Resorts made an $11 billion bid for Entain in January.

Entain’s software provides sports betting odds, player management systems, and other core technology underpinning sports betting. Hornbuckle said that MGM wants long-term control over the tech, preferably through taking over BetMGM.

Last month, MGM Resorts paid $1.63 billion to become the casino and resort operator of The Cosmopolitan in Las Vegas as part of a $5.6 billion deal.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

DraftKings
exclusive

DraftKings in Talks to Acquire Prediction Market Railbird Exchange

Sportsbooks and prediction markets are becoming increasingly intertwined.
Sports are shown on TVs behind a bar as guests enjoy the grand opening of DraftKings Sports & Social in Ohio.

California AG Has Declared Daily Fantasy Sports Are Illegal. Now What?

The opinion might spark a broader DFS conversation in the state.
Dec 29, 2024; Philadelphia, Pennsylvania, USA; Dallas Cowboys quarterback Cooper Rush (10) passes the ball against the Philadelphia Eagles during the first quarter at Lincoln Financial Field.

California AG Says Daily Fantasy Sports Are Illegal

The AG rejected arguments that DFS are games of skill, not chance.

Featured Today

Coco Gauff at New York Liberty

How the New York Liberty Became the Hottest Ticket in Town

Once banished to the burbs, the Libs are now Brooklyn’s marquee attraction.
Las Vegas sign
July 29, 2025

College Sports Embracing Vegas After Years of Cold Shoulder

The Big Ten became the latest newcomer to Sin City.
2000, Jupiter, FL, USA; FILE PHOTO; Montreal Expos pitcher Hideki Irabu in action on the mound against the New York Mets at Roger Dean Stadium during Spring Training
July 28, 2025

Dead Sports Franchises Are Alive and Well on Twitter

The Expos, Sonics, and Whalers have active social media accounts.
Limited Hype
July 27, 2025

Sneaker Reselling Was Once Easy Money. Success Is Now Complicated

Vendors need to evolve what they’re selling and how they do it.
Emmanuel Clase

Emmanuel Clase Gambling Leave Not Costing Finlete Investors—Yet

Clase is the company’s only client currently in the majors.
Polymarket
July 21, 2025

Polymarket Set to Become Legal in U.S. After Buying Small Exchange

Derivatives exchange QCX was recently licensed by the CFTC.
Jun 21, 2025; West Sacramento, California, USA; Cleveland Guardians pitcher Emmanuel Clase (48) throws a pitch against the Athletics during the ninth inning at Sutter Health Park.
July 28, 2025

Guardians Star Closer Put on Paid Leave Amid Gambling Probe

Emmanuel Clase joins fellow Guardians pitcher Luis Ortiz on paid leave.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) reacts after giving up a home run during the fourth inning against the Cincinnati Reds at Progressive Field.
July 18, 2025

MLB Pitcher’s Paid Leave Extended Through August As Betting Probe Continues

Leagues have been dealing with a host of sports betting issues.
Mar 31, 2025; Washington, District of Columbia, USA; Miami Heat guard Terry Rozier (2) drives to the basket against Washington Wizards guard AJ Johnson (5) during the first quarter at Capital One Arena.
July 16, 2025

Terry Rozier’s Attorney Confirms He’s Still Under Federal Gambling Probe

Rozier finished the season playing for the Heat despite the federal probe.
The Department of Justice logo on a podium at the Louisville, Kentucky office. July 1, 2025
July 16, 2025

Prediction Market Platform Polymarket Says It Escaped Federal Probe

Prediction markets are having a moment.
A view of the FanDuel Sportsbook betting area at Belterra Park Cincinnati.
July 11, 2025

Flutter Acquires Full Ownership of FanDuel in $1.75B Deal With Boyd Gaming

FanDuel just got a $31 billion price tag.