Latest news with #Entain
The Hindu
5 days ago
- Business
- The Hindu
Entain India opens 2,000-seater GCC in Hyderabad
London Stock Exchange-listed Entain, which is one of the largest sports betting and gaming groups globally, has established a 2,000-seater global capability centre (GCC) in Hyderabad. Set up through Entain India, the GCC will consolidate the technology development work that was happening from two offices. The new facility will provide employment for 3,400 high-skilled roles on a hybrid basis. It will and deliver over 85% of the Group's global software engineering and technology services, spanning product development, platform engineering, experience design and advanced analytics, the company said, announcing with the GCC opening rebranding of India operations from Ivy to Entain India. Besides Hyderabad, Entain India has an office in Pune where it employs 100 people. Entain India team's contributions span platform architecture, AI-driven personalisation, real-time trading engines and high-scale consumer experiences across regulated markets. 'The rebranding along with the launch of our new Hyderabad campus reflects our evolution and positions us to better support Entain's global ambitions with deeper integration, stronger talent engagement and a future-ready innovation ecosystem, Entain India Managing Director Anthil Anbazhagan said. On hiring plans, he said since 2001 when Entain India started operations the headcount is Hyderabad has risen to 3,400, including almost 800 people who were hired in 2024. Since hiring is connected to parent company's business expansion globally, it varies quarter to quarter, he said, adding there have been quarters where the Indian arm has onboarded 200 people.
Yahoo
7 days ago
- Business
- Yahoo
Century Casinos Announces Sports Betting Partnership With BetMGM in Missouri
MGM Resorts International (NYSE:MGM) is among the 10 Best Casino Stocks To Buy Now. Century Casinos has announced a long-term partnership with MGM Resorts International (NYSE:MGM)'s BetMGM to launch online and mobile sports betting in Missouri at its Century Casino & Hotel Cape Girardeau. Aerial shot of an entertainment resort, its buildings and gaming amenities sprawling along the seafront. BetMGM will use Century's license to run sports betting under the terms of the arrangement, and Century will get a cut of net gaming income, with a minimum guaranteed. The agreement is based on regulatory approvals and permits Century to offer retail sportsbook options at its discretion. Century's strategic position in Missouri's developing sports betting market is strengthened by the agreement. Peter Hoetzinger and Erwin Haitzmann, co-CEOs, stressed the action as a crucial step in improving the value of its licenses in Missouri. BetMGM, founded in 2018 as a joint venture between MGM Resorts International (NYSE:MGM) and Entain Plc, delivers proprietary U.S.-licensed technology and operates major brands like BetMGM, Borgata Casino, and Party Poker. Both companies' goals are to boost their market share and take advantage of the current gaming infrastructure, which is reflected in this agreement. While we acknowledge the potential of MGM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None.
Scoop
23-06-2025
- Business
- Scoop
New Analysis Details Government Annual Gift Of $119m To Multinational Gambling Company
Greyhound Racing New Zealand has released new analysis detailing the extent to which the Government is financially supporting a multinational gambling giant. It comes as the Government is expected this week to pass the Racing Industry Amendment Bill into law, creating a digital monopoly on gambling for Entain. The analysis, prepared by an independent consultant, details the financial help required for Entain to meet its funding guarantee of $150m per year to the racing industry. The funding guarantee, combined with a guarantee to retain approximately 450 TAB staff until June 2025, were set under the terms of the agreement when the TAB's betting business was outsourced to Entain in 2023. The analysis estimates in dollar terms the value of the Government's support to bail out Entain so it can limit its losses in meeting the terms of its deal until 2029. The passage of legislation to block New Zealanders from gambling offshore will boost Entain annual revenues by at least $75m per year. The retention of gambling on Australian greyhounds after the ban comes into effect, will preserve Entain gross betting revenues of approximately $44m per year. Without these actions by the Government, Entain would be faced with an estimated revenue deficit of $26m per year. Greyhound Racing New Zealand CEO Edward Renell said: 'The Government has chosen to bail out a multinational gambling company at the expense of ordinary Kiwis. 'It will shamelessly pass laws and create digital monopolies so Entain can meet its funding guarantees and obligations to private shareholders. 'Entain won't need to compete to win new revenue as it was brought in to do. It will be gifted it by banning Kiwis from using non-Entain betting providers and retaining gambling on Australian greyhound racing. 'The decision to keep taking money from Australian greyhound races, but strip thousands of regional Kiwis of their livelihoods and passion, is depressingly cynical and hypocritical. 'Gross income of $44 million dollars each year will now be sliced up between the Government, Entain and the equine codes and not go to the thousands of trainers, owners, and breeders involved in greyhound racing. 'It's a reverse Robin Hood. The Government is taking money from the provinces to save face on a bad deal and keep the money flowing into Entain, thoroughbred and harness racing.' Notes: Timeline of Entain – TAB deal: March 2023: TAB and Entain agreed to enter a strategic partnership agreement where TAB has delegated its betting and wagering functions to Entain. May 2023: The partnership was approved by then Racing Minister Labour's Kieran McAnulty, outsourcing TAB's monopoly betting operation to Entain for 25 years, a UK-listed multinational. 50% revenue share between Entain and the TAB. May 2023: TAB sought a variation to its authorisation of its arrangements with Tabcorp to reflect strategic partnership with Entain. June 2023: The partnership officially started on June 1, 2023. Entain Guarantees under the terms of sale: Entain provided TAB $150 million upfront a with a guaranteed $150 million for the first five years. $10 million sponsorship for racing carnivals. On passage of the Racing Amendment bill into law: $100 million payment from Entain, $80 million to be shared between thoroughbred and harness racing Entain committed to no forced redundancies for first 24 months of the agreement, due to expire this month (June 2025). Book value of Entain's TAB licence assets, if the Racing Amendment legislation goes through: According to Entain's March 2025 annual report, the estimated value of the New Zealand TAB licence assets was $2.7 billion NZD, including the potential introduction of the legislation. About GRNZ Greyhound Racing New Zealand is the governing body for greyhound racing in New Zealand and provides governance, support and assistance to the affiliated clubs in the sport of greyhound racing. The decision to end greyhound racing has significant economic and social consequences. The sport provides 1,054 full-time equivalent jobs and contributed $159.2 million to the economy in FY23. The Government announced on 10 December 2024, an intention to legislate to ban greyhound racing in New Zealand from 31 July 2026. Visit for more information.
Yahoo
21-06-2025
- Business
- Yahoo
MGM Resorts International (MGM): A Bull Case Theory
We came across a bullish thesis on MGM Resorts International (MGM) on MileHighMonk's Substack. In this article, we will summarize the bulls' thesis on MGM. MGM Resorts International (MGM)'s share was trading at $33.39 as of 10th June. MGM's trailing and forward P/E were 14.5 and 14.88 respectively according to Yahoo Finance. A bright and luxurious casino resort illuminated in the evening skyline. MGM Resorts International presents a diversified investment case rooted in dominant assets, global expansion, and disciplined capital returns. At its core is Las Vegas, where MGM commands a 40% market share with iconic properties like Bellagio and MGM Grand. Over half of Las Vegas' revenue is non-gaming, driven by hospitality, conventions, and entertainment, with partnerships like Marriott fueling room demand. MGM's regional casinos add stability, generating over $1.1 billion in annual EBITDAR with low capital intensity. In Macau, MGM has doubled its market share to 16% since 2018, riding mass-market recovery and expanding premium offerings, supported by a $2 billion loan for growth and refinancing. Japan represents a future growth engine, with MGM's $10 billion Osaka resort projected to generate $3.6 billion in annual revenue. Meanwhile, BetMGM, a 50/50 venture with Entain, has captured a leading position in U.S. iGaming and online sports betting, producing $424 million in 2024 EBITDA. With a potential EBITDA of $500 million and a conservative 10x multiple, MGM's stake could be worth $2.5 billion. Despite these high-quality assets, MGM trades at a discount to peers across both P/E and EV/EBITDA metrics, further distorted by its lease-heavy, asset-light model that inflates leverage optics. Still, net debt excluding leases is only ~$4 billion. The company has repurchased nearly $9 billion of stock since 2021, cutting share count by 45%, and continues aggressively buying back shares under a new $2 billion program. Backed by IAC's 23% stake and long-term conviction, MGM is viewed as a 'forever asset' with near- and long-term catalysts underappreciated by the market. Previously, we covered a bullish thesis on MGM Resorts (MGM) by David on Substack, which emphasized the company's asset-light transformation, iconic Las Vegas assets, and aggressive buybacks driving per-share value. The stock price has appreciated by roughly 27% since the coverage in April 2025. MileHighMonk expands on this view, highlighting MGM's global growth via Macau and Japan, BetMGM's digital upside, and valuation gaps versus peers despite strong capital returns. MGM Resorts International (MGM) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held MGM at the end of the first quarter which was 47 in the previous quarter. While we acknowledge the risk and potential of MGM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-06-2025
- Business
- Yahoo
MGM Resorts International (MGM): A Bull Case Theory
We came across a bullish thesis on MGM Resorts International (MGM) on MileHighMonk's Substack. In this article, we will summarize the bulls' thesis on MGM. MGM Resorts International (MGM)'s share was trading at $33.39 as of 10th June. MGM's trailing and forward P/E were 14.5 and 14.88 respectively according to Yahoo Finance. A bright and luxurious casino resort illuminated in the evening skyline. MGM Resorts International presents a diversified investment case rooted in dominant assets, global expansion, and disciplined capital returns. At its core is Las Vegas, where MGM commands a 40% market share with iconic properties like Bellagio and MGM Grand. Over half of Las Vegas' revenue is non-gaming, driven by hospitality, conventions, and entertainment, with partnerships like Marriott fueling room demand. MGM's regional casinos add stability, generating over $1.1 billion in annual EBITDAR with low capital intensity. In Macau, MGM has doubled its market share to 16% since 2018, riding mass-market recovery and expanding premium offerings, supported by a $2 billion loan for growth and refinancing. Japan represents a future growth engine, with MGM's $10 billion Osaka resort projected to generate $3.6 billion in annual revenue. Meanwhile, BetMGM, a 50/50 venture with Entain, has captured a leading position in U.S. iGaming and online sports betting, producing $424 million in 2024 EBITDA. With a potential EBITDA of $500 million and a conservative 10x multiple, MGM's stake could be worth $2.5 billion. Despite these high-quality assets, MGM trades at a discount to peers across both P/E and EV/EBITDA metrics, further distorted by its lease-heavy, asset-light model that inflates leverage optics. Still, net debt excluding leases is only ~$4 billion. The company has repurchased nearly $9 billion of stock since 2021, cutting share count by 45%, and continues aggressively buying back shares under a new $2 billion program. Backed by IAC's 23% stake and long-term conviction, MGM is viewed as a 'forever asset' with near- and long-term catalysts underappreciated by the market. Previously, we covered a bullish thesis on MGM Resorts (MGM) by David on Substack, which emphasized the company's asset-light transformation, iconic Las Vegas assets, and aggressive buybacks driving per-share value. The stock price has appreciated by roughly 27% since the coverage in April 2025. MileHighMonk expands on this view, highlighting MGM's global growth via Macau and Japan, BetMGM's digital upside, and valuation gaps versus peers despite strong capital returns. MGM Resorts International (MGM) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held MGM at the end of the first quarter which was 47 in the previous quarter. While we acknowledge the risk and potential of MGM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
