Flutter, Skillz Named as Takeover Targets as Gambling M&As Continue
Flutter Entertainment and mobile esports company Skillz are possible acquisition targets, according to recent reports. Las Vegas casino giant MGM Resorts International and an unidentified technology company are mentioned as possible suitors for Skill. The mobile esport provider went public last year through a combination with special purpose acquisition company Flying Eagle Acquisition Corp.
Flutter owns major online gambling brands Betfair, PokerStars, Sky Bet and FanDuel. It completed the acquisition of The Stars Group for $12 billion just over a year ago. The company has $1.26 billion in cash after the second quarter of the year. Flutter currently owns a 95% stake in Fanduel, which is said to have a 45% share in the US regulated sports betting market.
