It was a busy week for mergers and acquisitions in the casino world. We’ll start in Indiana where Caesars has continued to sell off properties in order to satisfy regulators as part of their merger with Eldorado.
Caesars Entertainment Sells Indiana Casino
Caesars Entertainment has officially parted ways with one of their Southern Indiana casinos. They have just struck a deal with the Eastern Band of Cherokee Indians for the property at a price of $250 million. This isn’t the tribes first property either, as they already own a different Caesars casino in the state of North Carolina.
The deal has been scheduled to be processed towards the end of 2021 and allows the tribe to use Caesars brand name to bring in more guests. For many people, this deal comes as a surprise but not for Caesars Entertainment. The Indiana Gaming Commission had already forced Caesars to sell multiple properties in Indiana back in 2019 as part of their merger with Eldorado. Their most recent deal is just another domino that was expected to fall.
The WSOP Circuit Series is still expected to take place in Southern Indiana whenever the event happens to pick back up again. The location had been questioned after this deal was first brought up, but it doesn’t appear that there are any changes as of right now.
MGM Resorts Makes Offer To Acquire Entain
MGM Resorts has been very busy in the past few months and it doesn’t seem like they have any plans of slowing down now. They have just placed a $10 billion offer to acquire all of Entain PLC, which is a gambling group in the UK. For now has been rejected by the UK-based company, which owns the popular brand Ladbrokes.
MGM is planning to take advantage of Entain’s recent success as their shares have appreciated 25 percent last year. If that number continues to trend in the same direction, it could cost a fortune to obtain full services of it. Although, even with the attention that Entain is getting at the moment, there has been no talks to accept any offer given to them.
It would be a tremendous get for MGM if they are somehow able to pick up Entain as they already have an agreement in place with BetMGM that could benefit them even more if both sides are able to find a middle ground. Entain is likely just negotiating, which means they’re going to fight for a bigger payday from MGM.
Kentucky Man Wins $2 Million Powerball Prize
2020 was a rough year for many but for one Kentucky man, 2021 has started off on the right foot. The lucky man was able to cash in a $2 million check after winning the Powerball, which is one of the biggest lotteries. The man had chosen to remain anonymous after winning by matching all five numbers for the $1 million prize. He had opted to pay an extra dollar while cashing in his ticket for a Power Play, which allows him to double any prize that he may receive. It just so happens that he won one of the best prizes possible.
The winner of this prize now claims that he will retire despite going back into the workforce a few years ago. He also says that he is planning on spending a lot more time with his family now that there’s no pressure to earn a salary. Shockingly enough, the man said that he had played the exact same numbers for every ticket he purchased as he watched a movie which saw the main character win the lottery with those same numbers.