Number Crunching - MGM, GVC and problem gambling programmes

Number Crunching - MGM, GVC and problem gambling programmes

Wednesday, May 30, 2018 Posted by Michael Lawson
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Breaking down all the week's news into a set of easy to manage figures.

$850 million - The overall amount paid by MGM Resorts when purchasing the Empire City Casino and Yonkers Raceway in NY state.

The global giant will pay total consideration of approximately $850 million, subject to customary working capital and other adjustments, including the refinancing of Empire City’s outstanding debt, which is expected to be approximately $245 million at the time of closing.

MGM also expects that approximately $260 million of the remaining consideration will be in the form of MGM Resorts common stock. There is also an agreement for MGM to pay additional consideration of $50 million if Empire City is awarded a licence for live table games on or prior to 31st December 2022 and MGM Resorts accepts such license by 31st December 2024.

£1 million - The cost of the Sky Bet-funded education programme that will be introduced to the 72 English clubs to help protect against problem gambling amongst footballers.

Delivered by independent harm minimisation consultancy EPIC Risk Management, the programme is designed for both players and club staff.

SEK 600 million (£51 million) - The amount that Swedish firm Better Collective are hoping to raise from releasing shares onto the Nasdaq Stockholm Stock Exchange.

The Offering is going to be made to the public in Sweden and to institutional investors in Sweden and abroad, with the final price per share in the offering expected to be set within the price range of SEK 48–58 per share, corresponding to a total value of all outstanding shares of approximately SEK 1.3–1.6 billion before the offering.

Plans to move ahead with this initiative were originally disclosed in the middle of May, when the industry affiliate marketing group detailed that it seeks to diversify its shareholder base, improving its access to capital markets.

18% - The percentage increase in betting in the runup to last Saturday’s UEFA Champions League final, identified by payment processing company Worldpay.

Spanish punters were among the biggest bettors, depositing 44% more than an average weekend; and with a payout ratio higher than any other European country, Madrid fans were set up to celebrate their team’s victory in style.

£160 million - The amount that multinational sports betting and gaming group GVC Holdings anticipates it’s EBITDA will fall by in the fallout from the FOBT maximum stake reductions.

Disclosing the news in its trading update for the first 20 weeks of the year, GVC expects this drop to occur by 2019, as well as a drop of £120 million by the end of the year and a general shift in emphasis away from retail betting towards online growth.

In the ‘Triennial Review’ section of the report, it read: “The focus in the UK Retail operation over the last two years has been to create a business that is well placed to face these structural and regulatory headwinds. As such we expect to be able to reposition the business within two years following implementation, with an anticipated fully mitigated impact of c£120m on Group EBITDA secured by the end of this period.

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