The casino crisis is a bottomless well. The closure of the rooms induces losses that can reach one billion for the largest players in the sector. And this is the case with MGM, huge group of casinos and owner especially of the famous Bellagio in Las Vegas. MGM is now trying to recover from this crisis by investing in Online sports betting sites, but the game is far from won. However, bet that MGM will be able to get his pawns out of the game in time ...
MGM Oxygen Search
By snubbing the online market MGM is found in an inextricable situation. The group dismissed no less than 18,000 people in the USA. The crisis seems far from over even if massive vaccination should allow Americans to be able to move and return to casinos that are still waiting for permission to open. Nevertheless, it will take time for confidence to return and play players in mass in American games. Foreign customers represent a large part of Sin City gains and it is not ready to come back. Professionals believe that it will take years before finding the frequentations before the pandemic. A group like MGM must find solutions and its gaze turns to a market that is a hit despite Cree of the Covid, that of online sports betting. We see it in USA with a record year for bookmakers, but in the US, it is a market that is exploding. Indeed, the liberalization of online sports betting is very recent at Uncle Sam with legislation in 2018. In the US Bookmakers are still on the wave for the end of prohibition. Inevitably, a group like MGM sees this market as a puff of oxygen which could save it time that the situation returns to normal. MGM does not have the expertise of this market to launch an operational solution in the short term. Weakened, the MGM remains a gigantic group capable of buying the biggest players in the gambling thanks to a cash flow of several hundred billions of happy.
The rush on English bookmakers
You should know that the American law authorizes foreign bookmakers to operate on their territory on the condition that they associate with a casino licensed in the US. The result is that the largest online sports betting sites have joined forces with American casinotics. If the idea seems good since it opens a gigantic market, the English bookies did not think that they were plunging into a basin populated by sharks. Today, casinotiers are trying to buy their partners in order to keep the whole cake for them. Caesars Entertainment tried to buy William Hill for the sum of three billion pounds.
MGM has teamed up with Entain, a sector giant With flagship bookmakers like Ladbrokes, Coral and Bwin. Barry Dyller has since become the main shareholder with his company Interactive Corp. Given the situation, the billionaire made a crisis investment by buying 12% of the MGM. The power of MGM shareholders suggests that they will easily find a prey to devour. It will not be full who refused with Flegme the offer of $ 9 billion, specifying that it was well below the value of the company of its growth forecasts.
