Mergers and acquisitions market in the casino and betting world heats up

Mergers and acquisitions market in the casino and betting world heats up

Article brief provided by Sports Handle
  • Jeff Edelstein, Sports Handle
August 18, 2021 10:01 PM
  • Jeff Edelstein, Sports Handle

    The pace of mergers and acquisitions in the sports betting and online gaming world has certainly picked up steam in the last few months, most notably with Penn National Gaming buying Score Media and Gaming in a $2 billion deal and DraftKings swooping in to purchase Golden Nugget Online Casino for $1.5 billion in stock.

    These are both eye-opening numbers, and there’s nary an analyst out there who thinks that the M&A activity will be ending with these two deals.

    In fact, according to a tweet from Ryan Butler of The Action Network, former William Hill CEO Joe Asher — whose company was bought by Caesars for $3.7 billion — said it’s “inevitable” that the market will consolidate even further.