Mgm Bingo
Ladbrokes owner Entain says it has received a takeover offer from US casino operator MGM Resorts.
The company, which also owns the Coral chain and online brands such as Sportingbet and Foxy Bingo, said it believes the £8.1bn offer 'significantly undervalues the company and its prospects'.
It said it had asked MGM Resorts to 'provide additional information in respect of the strategic rationale for a combination of the two companies' and that 'a further announcement will be made as appropriate'.
Shares in the FTSE 100-listed company surged nearly 28% in early trading and closed the day 25% up.
MGM National Harbor. MGM National Harbor is the premiere entertainment destination located on the banks of the Potomac just outside of Washington DC. Featuring a 3,000 seat Theater, 308 luxurious hotel rooms, restaurants from acclaimed chefs and a gaming floor bigger than the White House, MGM National Harbor delivers monumental experiences daily. The MGM National Harbor is the premier hotel & casino in National Harbor, MD. Book a room or suite and get the best entertainment, dining, and things to do near the Capital. Equal parts elegance and comfort, our 234 guest rooms and 74 suites are bold, well-appointed havens with modern amenities including 48” HD LCD TVs, high-speed Wi. Ladbrokes owner Entain says it has received a takeover offer from US casino operator MGM Resorts. The company, which also owns the Coral chain and online brands such as Sportingbet and Foxy Bingo. AXIS Lounge hits all the right notes. Join us as live local bands perform classic hits ranging from Motown to jazz to modern pop. An ideal spot to let loose with signature cocktails and soulful sounds. MGM Instant Bingo, & Machine Raffling, Hamilton. INSTANT BINGO Instant WINNERS ( pull tabs) Play and win.!!! Off Route 4 in Hamilton by Butler County Fairgrounds.in front of Greenwood.
The offer comes months after another US casino operator, Caesars Entertainment, agreed to buy UK bookmaker William Hill for £2.9bn - though it plans to spin off the UK betting shop part of the business after the deal is completed.
Entain, which recently changed its name from GVC, has more than 3,000 betting shops under the Ladbrokes and Coral brands.
It employs more than 18,000 people in the UK, roughly three quarters of the global total.
More from Business
Last November, new boss Shay Segev laid out plans to transform the business by pulling out of some unregulated global markets and focusing on sports betting and gaming entertainment - areas that have increasingly prospered during lockdowns.
In 2019, the company said it was shutting 900 betting shops - having warned of closures as a result of a crackdown on fixed odds betting terminals (FOBTS).
More recently it has had thousands of staff on furlough under the government's coronavirus job retention scheme.
In early November it said store closures under COVID restrictions at the time would cost it £37m in earnings though that was before rules were tightened more recently.
Entain issued a statement on MGM's offer on Monday after a report overnight from the Wall Street Journal about the proposal - which also said a previous attempt had been rebuffed.
Noting the recent 'press speculation', the company said it 'confirms that it has received proposals from MGM Resorts International... concerning a possible offer for Entain'.
MGM is already Entain's partner in the US market, operating joint venture BetMGM.
Entain said the 'most recent proposal' from MGM Resorts, an all-share deal that would leave its current investors with just over 40% of the enlarged company, valued it at a 22% premium to the its latest market value of £6.63bn.
The US company, which runs the Bellagio casino and resort in Las Vegas, now has until 1 February to make a formal bid or walk away.
June 10, 2009 - PRLogMgm Bingo Store
-- MGM Bingo, one of today's more trendy Free Internet Bingos, has begun to implement the 'VIP Deal', a unique marketing program that targets potential and existing Bingo customers. The 'VIP Deal' is a reduced rate package that includes a variety of perks, usually available to customers who have been holding large and highly active accounts for a continuous period of many months.Included in MGM Bingo 'VIP Deal ' are a zero-deposit sign up bonuses, re-subscription bonuses, match bonuses, birthday bonuses, continent and country specific bonuses and, of course, MGM Bingo's renowned VIP Bonus. The 'VIP Deal' is applicable to all of the MGM Bingo game rooms, which include Bingo Central, Desperate Lounge Bingo, SS Slow Max Bingo, Blackout Bingo and Fair N' Square Bingo.
Through the 'VIP Deal', MGM Bingo is distinguishing itself from its fierce online Bingo competition by two main innovations. First, the 'VIP Deal' is potentially worth thousands of dollars; second, the 'VIP Deal' is offered to practicably any internet user who simply chooses to accept it. Though many of the basic concepts behind the 'VIP Deal' are far from new, innovative proportions between the different elements of standard business strategy create an honest and bold approach to internet marketing. With no long term customer fee commitment plan MGM Bingo is proving unusual confidence in the quality of their service, and with plenty of good reason, too. Looking back at a strong terminus a quo of %13 annual growth in Bingo account holders prior to commencement of 'VIP Deal' MGM Bingo currently stands well beyond the %25 line, and showing no signs of deceleration.
In his bestseller 'Looking Online Odds in the Eye', MGM Bingo marketing director Jacob Mon describes what he calls the 'clientele fallacy' involved in main stream internet Bingo marketing strategy:
Mgm National Harbor Bingo
'Building a business is building reputation, and building reputation is building a clientele. There are basically two ways to build a clientele: one way is to initiate relations with as many customers as possible by the most efficient means available, with the unlikely aspiration of successfully writhing through a wide variety of demands later on. A more realistic way is to create a product of high customer value, and then wait patiently as the crowd gradually ditches the competition (which is probably using the first method) and naturally chooses what they know is best for them.'In an interview at last September's National Internet Bingo Conference, Mon took his philosophy one step further. He explained that MGM Bingo is keeping a close eye not only on their portfolio but on customer feedback, as well:
'The purpose of the 'VIP Deal' is to give players what they want, and the character of the package is absolutely open to criticism by MGM Bingo account holder.'
A rare beacon of righteousness or wishful naïveté? The answer is solid business strategy. Proof of 'VIP Deal's marketing genius should be sought not in MGM Bingo's unprecedented success, but in their account holder's concurrency as to the value of the service provided. It's simply what player's want, just like Mon said.MGM Bingo - http://mgmbingo.com
# # #
MGM Bingo is a high quality free online bingo site. MGM Bingo employs classy graphics, editorial and user fed information, FAQs and winning tips. Unique to MGM Bingo is the ability to play for free right off the homepage through a single mouse click.