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Flutter Entertainment (NYSE: FLUT) could reportedly reach a $2.62 billion deal to acquire Playtech’s (LSE: PTEC) Snaitech unit as soon as this week.

Shares of the prospective seller posted a double-digit gain in London trading on Monday after media reports surfaced indicating the two companies could reach an agreement in the coming days. Should that price be what Flutter offers, it would represent the entirety of Playtech’s market capitalization.

Speculation regarding Flutter’s interest in Snaitech began last month with Playtech ultimately confirming it was in talks with the Paddy Power owner.

Snaitech is one of the largest gaming companies in Italy and should Playtech shed that entity, the seller would have no consumer-facing operations, allowing it to focus on its business-to-business technology offerings. Playtech’s Monday surge was aided by news that the company reached an agreement with Mexican gaming firm Caliente regarding a long-standing argument over payments purportedly owed to Playtech. It’s also possible that if Playtech sells Snaitech, bidders could emerge for the former’s tech business.

The sale of Snaitech, will leave Playtech as a business-to-business provider of software, and, according to analysts, is likely to result in a formal takeover bid in the medium term,” reported Mark Kleinman for Sky News.

Last month, Playtech granted Flutter a period of exclusivity to perform due diligence on Snaitech, indicating the seller is not yet fielding offers from other suitors.

Snaitech Buy Keeps with Flutter Tradition

Should it reach a deal for Snaitech, the purchase would extend Flutter’s tradition of deal-making that’s allowed the operator to bolster its footprint in Europe, including in Italy where it’s already one of the largest gaming operators.

Italy is an attractive market for a company for multiple reasons. It’s the third-largest economy in the Eurozone and is Europe’s largest regulated gaming market outside of the UK, meaning a presence there diversifies Flutter’s revenue stream while reducing reliance on the UK.

Although it’s already a large market within the European wagering scene, Italy is rapidly growing thanks to the evolution of iGaming, a sector in which Snaitech has some leverage. Snaitech also operates in Austria and Germany, but is a smaller player in those countries.

Flutter’s Been Acquisitive of Late

Snaitech isn’t the only potential acquisition Flutter is working on. Last week, the company said it’s spending $350 million in cash to buy a 56% stake in Brazil’s NSX Group, which controls the popular Betnacional brand in that country.

Flutter is the parent of FanDuel, the largest online sportsbook operator in the US.

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Flutter Entertainment (NYSE: FLUT) said it acquired a 56% stake in Brazil’s NSX Group for $350 million in cash to bolster its footprint in that country.

NSX operates the Betnacional brand. Including Betnacional, NSX is the fourth-largest iGaming and online sportsbook company in Brazil. Importantly to Flutter, the target is already profitable. Flutter said NSX is expected to generate 2024 revenue of $256 million on adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $34 million.

The $350 million transaction, which was announced last Friday, is scheduled to close by the second quarter of 2025.

NSX Buy Could Be Smart Move by Flutter

Flutter taking a stake in NSX could prove to be a prescient move because Brazil is slated to fully regulate its iGaming and online sports betting markets at some point next year.

That’s expected to open the floodgates for international operators to bid for licenses in the country. Flutter has an advantage because it’s already established in Brazil, but partnering with a local company like NSX could be viewed favorably by regulators and it’s a move some rivals have signaled they’ll employ as well.

“Strong demand for sports betting and iGaming products with compound annual gross gaming revenue (GGR) growth in the unregulated market of 38% since 2018, to almost $3 billion in 2023,” according to a statement issued by Flutter.

Brazil’s Booming Gaming Market

In the eyes of many US investors, Flutter is viewed as the parent of FanDuel — the largest online sportsbook operator in this country – and while that’s accurate, the company has a massive international footprint that includes exposure to Australia, Europe, and Latin America.

“Flutter Brazil will be exceptionally well positioned to take full advantage of the significant growth opportunity in the newly regulating Brazilian market,” concluded Flutter in the statement. “In line with our successful strategy in other newly regulated markets such as the US, we expect to drive market share growth and embed future profitability through disciplined customer investment. This is expected to result in a Flutter Brazil adjusted EBITDA loss of approximately $90 million to $100 million in 2025.”

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Fox Corp. (NASDAQ: FOX) could be preparing to take an 18.6% stake in Flutter Entertainment’s (NYSE: FLUT) FanDuel, and the media giant could do so at a significant discount to the sportsbook operator’s market value.

At the Goldman Sachs Communacopia and Technology Conference, Fox CEO Lachlan Murdoch said the media company is proceeding with plans to take an 18.6% interest in FanDuel, the rights to which were acquired in 2020 when Flutter doled out $12.2 billion for The Stars Group (TSG). Fox sold Sky Bet to TSG in 2018 for $4.7 billion, taking an equity stake in the buyer.

Murdoch told attendees at the conference that Fox values FanDuel at $35 billion, meaning 18.6% is worth $6.5 billion. Assuming he’s correct and FanDuel is worth $35 billion, that implies the gaming company is worth $17.22 billion more than DraftKings (NASDAQ: DKNG), its most direct competitor. At the close of US markets on Wednesday, DraftKings sported a market capitalization of $17.78 billion.

Fox Won’t Leave $2 Billion on the Table, Says Murdoch

That $6.5 billion figure is well in excess of the $4.3 billion Fox previously estimated it would need to pay to exercise its rights to acquire 18.6% of FanDuel. To buy that portion of FanDuel, Fox must be a licensed sportsbook operator in the states in which FanDuel does business. Murdoch mentioned at the Goldman Sachs conference that the company is working to address that issue.

We’re not going to leave $2 billion on the table,” he said.

It’s clear FanDuel has appreciated in value. Following a legal spat in 2022 between Flutter and Fox, the latter agreed to buy that 18.6% of FanDuel for $3.72 billion with a 5% annual escalator, meaning that for each year the option wasn’t exercised, the price would go up 5%.

“FOX has a 10-year call option that expires in December 2030 to acquire 18.6% of FanDuel for $3.72 billion, with a 5% annual escalator,” according to a November 2022 statement issued by the media firm. “FOX has no obligation to commit capital towards this opportunity unless and until it exercises the option.”

Murdoch said Fox has already initiated the process of procuring state gaming permits.

“We’ve begun the process with state regulators,” Murdoch said. “To fully monetize the option, we need to be licensed as a gaming operator, even with only with only 18.6% and so we’ve started that process with state regulators to begin the gaming licensing approvals.”

Where’s Fox Going to Come up with $4.3 Billion?

Murdoch didn’t get into specifics of how Fox would come up with the $4.3 billion needed to activate its FanDuel stake. Coincidentally, the media entity had $4.31 billion in cash and cash equivalents at the end of fiscal 2024.

He didn’t mention the possibility of selling debt to fund acquisitions or the purchase of the FanDuel interest.

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The defending NBA champion Boston Celtics are for sale and purported bidders could include Wynn Resorts (NASDAQ: WYNN) and Steve Wynn, the founder of the gaming company.

On a recent edition of “The Greg Hill Show,” Boston sports talk radio host Courtney Cox said there are three finalists who could acquire the Celtics: Amazon founder Jeff Bezos, Boston Red Sox President Sam Kennedy, and Encore Boston Harbor. Located in Everett, Mass., Encore Boston Harbor is Wynn’s lone US casino hotel outside of Las Vegas. The property is the holder of the first sportsbook license in state history.

Kennedy’s potential involvement implies it would be Fenway Sports Group, which owns the Red Sox and the NHL’s Pittsburgh Penguins, among other sports interests, that makes a bid.

Bezos being interested in the Celtics isn’t surprising as he’s long coveted a professional sports franchise. Last year, he was among the bidders for the NFL’s Washington Commanders, but the team was ultimately sold to another group.

Wynn Resorts Buying Celtics Seems Iffy

The unidentified source cited by Cox isn’t from Boston and Wynn hasn’t commented on any interest in buying the Celtics or any other professional team.

Speculation that the gaming company could be mulling a bid for the team may be attributable to the operator’s hopes of expanding Encore Boston Harbor and the surrounding area. There’s been chatter that such an effort, if approved, could include a new arena for the Celtics and Boston Bruins. There’s also been scuttlebutt that the basketball team could relocate its offices to Everett.

As for the NBA allowing an owner with gaming interests, that’s not an issue. Golden Nugget boss Tilman Fertitta owns the Houston Rockets and Dr. Miriam Adelson and Patrick Adelson recently acquired majority control of the Dallas Mavericks. Adelson is the largest Las Vegas Sands (NYSE: LVS) shareholder, and Dumont is president and chief operating officer of that gaming company.

Steve Wynn an Unlikely Bidder

Born in Connecticut, Steve Wynn is a native New Englander and could well be a Celtics fan, but for now, his possible involvement in acquiring the Celtics appears to be mere speculation.

Assuming the Celtics’ sale price were to approach $5 billion, that might be too rich for Wynn’s blood, but it would be easily affordable for Bezos. One of the richest people in the world, Bezos is worth an estimated $190.4 billion.

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Kambi Group Plc (OTC: KMBIF), a provider of technology services to sportsbook operators, denied that it’s engaged in takeover discussions with Genius Sports (NYSE: GENI).

Speculation recently surfaced that Genius, a data provider to sportsbooks, was mulling a takeover of Sweden-based Kambi, but Anders Ström, chairman of the Kambi board of directors, said no such conversations have taken place.

While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions,” he said in a statement.

With its shares up 15.35% year to date, Genius has the currency with which to hunt for deals. It has a market capitalization of $1.5 billion, which is well above Kambi’s market value of $370.1 million.

Kambi Takeover Rumors Getting Old

Rumors about Kambi being a target aren’t new. In fact, they date back to at least the second quarter of 2023, and the purveyors of the chatter have some factors to hang their hats on.

Furthering the speculation is the fact that Kambi recently pulled its longer-ranging financial targets, in part citing regulatory issues in Brazil. That prompted the resignation of then-CEO Kristian Nylén. High-level executive departures often stoke takeover talk.

Additionally, more gaming companies are looking to bring sports wagering technology in-house, which could further the allure of Kambi as a takeover candidate. The company’s North American clients include Bally’s, Churchill Downs, Penn Entertainment, and Rush Street Interactive, among others. Kambi also works with gaming companies throughout Australia, Europe, and Latin America. The corporation recently extended its partnership with Rush Street.

Genius Sports Denies Rumor, Too

Genius Sports also denied the scuttlebutt.

As policy, we do not comment on unfounded and ill-informed rumors. To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi,” said CEO Mark Locke in a statement.

While Genius might not be interested in Kambi, there could be an ample number of other potential suitors should the firm put itself up for sale. After the company adopted the poison pill provision in 2022, Alinea Capital Management, a Norwegian hedge fund, said there could be as many as six US-based companies interested in buying Kambi.

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Full House Resorts (NASDAQ: FLL) said Tuesday it’s selling Stockman’s Casino in Fallon, Nev. to Clarity Game LLC for $9.2 million.

The deal includes the land, building, and select other operating assets. It’s a two-pronged deal in which the buyer will pay $7 million for the real estate assets and $2 million for the operating rights. The property part of the transaction is expected to close later this month. After that, Full House will pay monthly rent of $50K to Clarity until the sale of the operating rights is finalized. When that part of the deal is completed, all operating responsibilities will be transferred to Clarity.

Stockman’s Casino has more than 10K square feet of gaming space and two restaurants. It’s one of three casinos in Fallon, a town of about 9,300 in Churchill County. The other two are the Bonanza Casino and the Fallon Nugget.

Sale Part of Full House Transition

The sale of Stockman’s Casino is part of Full House Resorts’ transition — one that’s seeing the regional gaming operator focus on newer, glitzier venues.

As we have continued to grow in size, we find it prudent to focus on our larger properties in our portfolio, including our newly-opened Chamonix and American Place casinos. We are proud of our transformation of Stockman’s Casino over the years,” said Full House CEO Daniel Lee in a statement.

Chamonix is the operator’s newest property in Cripple Creek, Colo. It opened last December and is widely viewed as the most upscale gaming venue in that town. American Place refers to the Full House venue in Waukegan, Ill., where the operator currently runs a temporary version of the casino while it works through some legal challenges brought by rival bidders.

Including American Place, Chamonix, and Stockman’s, Full House runs seven gaming venues. The others are Bronco Billy’s in Cripple Creek, Colo., the Silver Slipper Casino and Hotel in Hancock County, Miss., Rising Star Casino Resort in Rising Sun, Ind., and the Grand Lodge Casino in Lake Tahoe, Nev.

Clarity, Full House Neighbors in Cripple Creek

Before the Stockman’s sale announcement, Clarity Game and Full House were neighbors and rivals in Cripple Creek. Last December, Michael Gaughan and a group of partners formed Rocky Mountain Gaming to acquire two casinos in the Colorado town.

Gaughn, who also owns the South Point Las Vegas, and his Rocky Mountain Gaming partners are behind privately held Clarity Game LLC.

Gaughn also owns the operating rights for the more than 1,400 gaming machines located inside Harry Reid International Airport.

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At Disney theme parks, the Excalibur is a sword that visitors can attempt to pull out of a stone. On social media, the Excalibur’s purchase by Disney is a fantasy that has been pulled out of someone’s ass.

The rumor was started by a clicktbait video shared on April 6 by a TikTok account called las_vegas_vibes.

“Plans for new Disney themed Hotel and Casino in Las Vegas!!” the captions announced, complete with “leaked concept artwork” that bore the obvious stamp of AI. The post, which received 98K likes, claimed the $2 billion project was “set to be completed by 2030.”

The Lyin’ King

After being bounced around various accounts on X/Twitter, the ball was then picked up by a popular Disney fan blog on July 27.

“Years ago, The Walt Disney Company heading to Las Vegas would have been a non-starter,” Inside the Magic’s Rick Lye wrote. “Gambling goes against everything that Walt Disney stood for. But that was then, and this is now.”

The only evidence offered by Mr. Lye’s story, however, is that Disney competitor Universal is opening a year-round horror experience in a 20-acre expansion of AREA15 next year, so Disney should want to include Las Vegas in its plans to stay competitive.

Also, in a stretch undertaken to show how zip-a-dee-doo-dah Disney has become with gambling, Mr. Lye cited the $1.5 billion deal that PENN Entertainment signed last October with Disney’s ESPN to use the “ESPN Bet” trademark for its new sports betting company.

The Truth

While there have been rumblings in recent years that MGM is looking to divest itself of Excalibur and Luxor, the casino giant’s Strip properties catering to more budget-conscious travelers, there is not even a shred of a shred of evidence that the Mouse House has ever considered purchasing a casino — much less the Excalibur just because its exterior would require minimal adornment to fit the Disney brand.

Casinos do not fit the Disney brand.

That’s why Disney operates one of the world’s top-ranked cruise lines without them. (On Aug. 10, it announced that it will add five more casino-free ships to its fleet, bringing its total size to 13 by 2031.)

As complete and utter fabrications go, this one even lacks originality. Ever since Excalibur opened in June 1990, nearly everyone viewing the property for the first time has been reminded of a specific Disney landmark.

“The $294 million Excalibur is a combination hotel and theme park,” wrote Millie Ball of the Muskegon Chronicle on July 22, 1990. “It’s an eye-popper for sure, a fanciful place with a hodge-podge of Cinderella castle turrets set between two 28-story towers of 4,032 rooms, and a King Arthur theme in every inch.”

Finally, it would not be irresponsible journalism to point out that Inside the Magic averages 30 million pageviews per month despite, or more likely because of, its imagineering of the truth.

Snopes.com cites it for its false recent claims that Disney is ending the Disney+ streaming service, that it suspended Snow White from its theme parks, and, most blasphemously, that it retired Mickey Mouse.

And this subreddit was created just to keep tabs on all the clickbait stories that Inside the Magic has published since its founder, Ricky Brigante, sold it in 2018.

Look for “Vegas Myths Busted” every Monday on Casino.org. Click here to read previously busted Vegas myths. Got a suggestion for a Vegas myth that needs busting? Email corey@casino.org.

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DraftKings (NASDAQ: DKNG) said it will acquire Simplebet Inc., a provider of microbetting services, to bolster its suite of in-game betting products.

Financial terms of the transaction weren’t disclosed. When rumors of the deal surfaced in May, it was speculated that DraftKings could pay $120 million to $170 million for privately held Simplebet. The pair have an existing relationship. In 2021, they inked a deal in which Simplebet provided microbetting services to DraftKings Sportsbook.

The Proposed Transaction would allow for the integration of Simplebet’s proprietary machine-learning models into DraftKings’ best-in-class pricing and technology platform to create highly accurate betting opportunities during every moment of a game,” according to a statement issued by the buyer. “The Proposed Transaction would improve the quality, breadth and speed of data throughout the DraftKings trading lifecycle, and would unlock a faster and more frictionless experience for the Company’s customers.”

Boston-based DraftKings is Simplebet’s largest client. The target was valued at $210 million following a Series C funding round of $28.6 million three years ago.

Simplebet Could Be Smart Deal for DraftKings

For DraftKings, the purchase of Simplebet could prove shrewd because microbetting is a fast-growing derivative of in-game or live betting — areas operators are pushing into in efforts to increase handle and revenue.

In-game wagering has long been popular in mature sports wagering markets such as Australia and Europe, and it’s rapidly gaining momentum in the US. Underscoring why DraftKings may have found Simplebet to be an alluring target is the need for technology to make live and microbetting work.

“Simplebet has developed a scalable, maintainable, and highly performant foundation for a live betting platform that is algorithm oriented. With machine learning and automation to supplement the betting experience, Simplebet’s proprietary models offer more in-play moments for bettors,” according to the DraftKings statement.

Inside Simplebet’s Story

New York-based Simplebet was founded in 2018 and is a business-to-business provider of microbetting markets on college basketball and football, Major League Baseball (MLB), the NBA, NFL, and the NHL.

In addition to DraftKings, Simplebet sportsbook clients include Caesars Sportsbook, ESPN Bet, FanDuel, and Hard Rock Sportsbook, among others.

It’s not yet clear if those operators will remain with Simplebet when it becomes part of DraftKings or if they’ll pursue microbetting relationships with Simplebet competitors.

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