Day: 20 January 2021

888 Holdings Inks Multi-Year Extension of Its Exclusive Online Poker Deal with Caesars Entertainment

Wed 20 Jan 2021 10.04 Olivia Cole
888 Holdings Inks Multi-Year Extension of Its Exclusive Online Poker Deal with Caesars Entertainment

UK gambling company 888 Holdings has continued its pursuit of an expanded US online gambling presence with a new poker deal with American casino giant Caesars Entertainment. As revealed by the two companies yesterday, they inked a multi-year extension of their exclusive agreement that would put an end to the concerns that the US casino operator might make changes to its domestic poker business, ceasing the involvement of foreign organisations. Under the new deal extension, 888 will continue to supply Caesars’ casino platform and provide content on a business-to-business basis…

Read More

Gambling Markets with Recent Tax Hikes

Wed 20 Jan 2021 7.34 Harry Evans
Gambling Markets with Recent Tax Hikes

The gambling industry has been thriving over the last years. When it comes to gambling laws, each country crafted its framework regarding the legality of this pastime. While some jurisdictions took tough measures to ban gambling, others decided to benefit from its profitability and regulate the industry. Gambling has been viewed as a “cash dispenser”. Often, countries that were strong opponents of gambling changed their approach in an attempt to decrease gaps in the economy and create new job opportunities. The tax regime varies greatly between the different countries that…

Read More

MGM Resorts Withdraws from Pursuit of Entain’s Acquisition After Failure of £8.1-Billion Bid

Wed 20 Jan 2021 6.00 Olivia Cole
MGM Resorts Withdraws from Pursuit of Entain’s Acquisition After Failure of £8.1-Billion Bid

The US casino company MGM Resorts decided not to pursue an acquisition of Entain. After the UK gambling giant rejected its initial £8.1-billion takeover bid earlier in January, with the Ladbrokes and Coral owner saying that the offer underestimated its value, MGM Resorts made a decision not to push further. The Las Vegas casino company had until February 1st to make a firm takeover offer under the UK legislation after media hubs reported it had made a proposal to acquire Entain. Together, the two companies already run a US-based joint…

Read More