The gambling world is abuzz with speculation as shares of Kindred Group experienced a sudden surge in Friday’s trading session, fueling rumors of a potential takeover! Unidentified sources, mentioned in a Betaville alert, suggest that MGM Resorts International might be considering a strategic move to acquire the Swedish gaming company.
MGM eyes Kindred Group acquisition, but competition arises
But MGM isn’t the only player in the game, as an unnamed UK-based gaming entity is also rumored to be eyeing Kindred Group with interest. The betting community is buzzing with excitement, trying to uncover the mystery behind the UK company’s identity! Could it be the likes of Flutter Entertainment, the parent company of FanDuel, or the renowned Entain Plc?
The plot thickens further with Entain’s recent spree of deal-making, which could make the company a natural fit for a potential acquisition. However, if both MGM and Entain indeed express interest in acquiring Kindred Group, this could create tension between the BetMGM partners. As of now, no official confirmation has been made by either company regarding their intentions towards Kindred, keeping us all on the edge of our seats!
Kindred Group itself has been making headlines by announcing its evaluation of strategic alternatives, including the possibility of a sale back in April. The company has also experienced changes within its C-suite, with several key executives departing, adding more fuel to the speculation fire. Interestingly, Kindred has been actively repurchasing its own stock, leading analysts to speculate that this might be a prelude to an imminent sale.
How the Kindred frenzy came about
MGM’s interest in Kindred group was first brought to the spotlight in May, with Keith Meister‘s Corvex Management being a driving force behind Kindred Group’s consideration of corporate action. As an MGM director, Meister’s influence in this regard cannot be overlooked. Moreover, MGM has a track record of acquisitions in Sweden, having acquired LeoVegas AB for $607 million last year.
Kindred Group itself has been exploring various opportunities, reportedly engaging in preliminary discussions with Entain, Evolution AB, and Flutter regarding potential transactions. With a market capitalization of $2.59 billion, Kindred is undoubtedly an attractive target for numerous suitors, making the situation all the more intriguing.
Questions left unanswered
The question on everyone’s mind is: Will MGM and Entain seize this opportunity to expand their gaming empires by acquiring Kindred? If so, it could open a whole new chapter in the BetMGM partnership and could significantly impact the global gambling landscape. But with all other competitors coming up, what could be their strategic advantage?
As the plot thickens, Kindred executives have confirmed that the strategic review is progressing as planned, focusing on gaining market share and optimizing costs. While we wait for the big reveal, the anticipation is palpable, and the gambling world holds its breath, eagerly awaiting the next twist in this thrilling tale of potential takeovers and strategic moves! Stay tuned for more updates on this gripping saga in the realm of casinos and gaming!
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