Ready for war: how global gambling firms are targeting US domination with hostile takeovers
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New Jersey went to the Supreme Court in 2018 in a bid to overturn the Professional and Amateur Sports Protection Act (PASPA).
The Supreme Court ruled that PASPA is unconstitutional. 27 states have legalized sports betting. Canada has also passed legislation that will allow bettors to place single sports wagers. The industry is predicted to be worth $130 billion within five years. Major companies are already taking notice and investing in the sector. They are looking for partners from abroad. There have been tens of billions of dollars invested in this sector in two years, mostly from domestic firms. Here's a look at some of the biggest mergers, acquisitions and takeovers in recent times.
Caesars Entertainment bought William Hill for $3.7bn in April. William HIll's team will lead Caesar's journey into both land-based and online sports betting. The company has already recouped some capital from the takeover.
Penn National Gaming bought a $450m stake in Barstool Sports. The media company has a huge reach across the online sphere. The company was expanded in August with the acquisition of Score Media and Gaming.
DraftKings bought Gold Nugget Gaming. The company owns a share in the Golden Nugge casinos and the Houston Rockets. It will give the company a portfolio of gambling assets.
Aristocrat Gaming has bought Playtech for $2.7 billion. PlayTech has been developing slots and casino games for many years. Aristocrat will launch its American assault with Play Tech as its tech partner.
DraftKings has made a $22bn bid for UK conglomerate Entain. Entains has holdings including Coral, Ladbrokes, Party Casino, Gala Bingo and more. DraftKings will benefit universally from the proposed deal.
