Entain Hunts Olympic Casino Offer
Entain is ready to offer $ 1 billion for the acquisition of the Entertainment Group. As a reminder, Entain Hunts Olympic Casino was formerly known as GVC Holdings Plc and is far from new to M&A. For example, it was this organization that became the largest online gambling company after the purchase of Bwin. Party Digital Entertainment Plc and Ladbrokes Coral Group Plc.
Looking at recent deals, Entain Hunts Olympic Casino has taken over companies such as MGM Resorts International and DraftKings Inc.
According to Bloomberg Law, the offer has been confirmed by independent companies. However, other sources of information have not yet been able to confirm the deal. To date, a large amount of insider information has been collected, each with its truth in this regard.
Olympic is based in Estonia and operates as a casino. Online transactions are in progress. This organization is considered the largest gambling establishment in the region.
Some sources are confident that the proposed acquisition will begin with a cash payment to take over a group of companies from Estonia and Croatia. Some money will be paid from the profit, but this will not happen until the beginning of 2023.
The World Casino Directory is known to consist of over 120 land-based casino locations. Coverage region – Malta, Italy, Latvia, Estonia, and Lithuania. Olympic also operates the online portals Olybet and Maxbet.
According to some sources, Entain is looking for options to buy international assets. She is looking for a formula to inject funds to obtain concessions from shareholders. For example, a company seeks to extend the deadline for paying debts.
The bankruptcy of NSO Group can also be noted, which liquidated most of its assets. However, the money is still under the control of the Berkeley Research Group. Recall that it was Novalpina that bought Olympic a few years ago, having paid about $ 330 million for this. Until that moment, the Olympics entered markets such as Croatia and Romania.
A noteworthy fact, in the fall of 2021, the Biden administration blacklisted NSO Group Technologies and Condiro from Israel. This was due to the provision of technology against journalists and embassy staff.