We own 44% of Leap gaming!!!!5 Jan 2021 10:02
Alun Bowden, the head of European markets at the US-based gambling consultancy Eilers & Krejcik Gaming, said it made sense to spend billions on knowhow that UK firms already possessed.
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“The US market is moving so quickly that to spend one or two years building that up, at the absolute minimum, is just time nobody has to spend,” he said. “The casino firms probably underestimated the growth of both the online gambling market there and the impact on share prices. I think everyone did.
“Two years ago they were happy to do joint ventures and effectively lease the brand for a revenue share deal to European operators. Now they really want to have full ownership of their involvement in the market.”
Entain, which was known as GVC until shareholders voted for a name change last month, started a 50/50 joint venture, BetMGM, with MGM in 2018, offering online sports betting and casino games in the growing number of US states where it is legal.