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MGM & Entain

May 9, 2023

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MGM & Entain

MGM Resorts and Entain are in a proxy battle of competing M&A, with MGM Resorts looking to bolster its LeoVegas business and challenge Entain’s position in the online space. MGM Resorts CEO Bill Hornbuckle outlined three “pillars” of potential growth for LeoVegas, including getting into the content business, live dealer, and sports-betting technology. Hornbuckle also named MGM’s digital chief Gary Fritz as a “big part” of the strategy. Sources suggest Fritz’s background at IAC gives credence to this being a planned digital strategy away from BetMGM. Hornbuckle gave a timeline of two to three years to “build something meaningful”.

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