A big Chinese backer would be roll of dice for MGM 7 Jan 2021 Investor Snow Lake wants the casino operator to sell 20% of its $6 bln Macau business to a local buyer. There are merits to the idea, including the edge it could provide for a new licence in the world’s biggest gambling hub. It would also, however, complicate other deals.
MGM’s $11 bln UK punt is close to maximum wager 4 Jan 2021 Entain rebuffed a merger proposal from the U.S. resorts-to-roulette group. The British bookie has good reasons to ask for more stock and a slug of cash from its sports-betting partner. But with no rival bidders, and a shrinking domestic business, its negotiating power is limited.
U.S. is promised land for online gambling 29 Dec 2020 Wagers will be a welcome source of tax dollars across Covid-scarred America, where the potential market for web-based sports betting could be worth up to $23 bln. As watchdogs ease rules in 2021, sites such as Flutter’s FanDuel and casino groups like Caesars and MGM will get lucky.
Big Tech’s gaming gamble will call for M&A 22 Dec 2020 Google and Amazon want to do to video games what Netflix has done to television. Their cloud-based gaming services face technical challenges, but the bigger test is luring gamers from established platforms like Microsoft’s Xbox. Acquisitions are the fastest way to the next level.
U.S. gaming giants find extra gear in UK developer 14 Dec 2020 Electronic Arts offered $1.3 bln in cash for London-listed Codemasters, overtaking rival Take-Two Interactive. The $40 bln group clearly sees scope to squeeze more value out of its target’s “F1” driving game. Shareholders can sit back and watch the race unfold.
Corona Capital: NFL’s ad fumble 14 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: This year fewer people are watching the National Football League, and that means broadcasters like Comcast’s NBC are lowering prices for commercials or offering free ad space.
Instead of TikTok, Microsoft can strike a Discord 9 Dec 2020 The software giant lost out on a deal for the viral video app. But a better fit is gaming chat service Discord, valued at about $7 bln. User growth has jumped amid Covid and it’s expanding into education and other areas. That complements Microsoft as its rivals also turn to M&A.
Corona Capital: Gaming M&A, Beauty’s bold face 9 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Consolidation in video games reaches the next level as Sweden’s MTG buys Hutch Games for $375 million; and Spanish cosmetics, fashion and perfume group Puig predicts revenue will double by 2023.
Corona Capital: Chevron, Boeing, OPEC, Orange 3 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Chevron cuts spending, prudently; Boeing orders are a solid step; OPEC makes up its mind; and Orange’s Belgian deal has some juice.
Corona Capital: Dimon weighs in, Gen Z 18 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: JPMorgan’s chief executive calls for U.S. politicians to “just split the baby” on stimulus; and Generation Z deals a new body blow to the idea that office life will emerge from the pandemic unscathed.
Corona Capital: DraftKings, Palantir Technologies 13 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: DraftKings gets lucky; Palantir needs to hike faster.
Tencent’s super status can survive antitrust dig 12 Nov 2020 Dominance in gaming and messaging boosted quarterly sales 29%. Compared to e-commerce giant Alibaba, Tencent’s ubiquitous WeChat app depends less on subsidies and other practices singled out by regulators. The $681 bln tech giant benefits from boss Pony Ma’s low profile too.
Corona Capital: Netflix price hike 30 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: The streaming-video service hiked the price on subscriptions as binge-watching booms during the pandemic.
Corona Capital: Drugmaker’s pick-me-up, Golf M&A 28 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Drugmaker GSK sees a recovery in vaccinations against old-school ailments; meanwhile Covid-19 turns out to be a handy driver when it comes to golf-related dealmaking.
It’s time for Sheldon Adelson to leave Las Vegas 28 Oct 2020 His $37 bln casino company may sell U.S. assets for $6 bln to double down on fast-growing Asian markets. That would thin its hedge against risks in Chinese Macau, but Nevada contributes barely 10% of earnings. Las Vegas Sands could use the cash for deals – and debts.
Corona Capital: Binge-watching, Gaming 27 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Streaming viewers like to binge-watch, but they are being stingy; a fresh surge of Covid-19 cases could be a boon for gaming developers.
Roblox IPO has just enough buzzwords 21 Oct 2020 The online video game for kids isn’t just something that entertains. It combines social media, unique content and even a cryptocurrency. The mooted $8 billion value may be a stretch, especially given the faddish nature of gaming. But Roblox is unique enough to justify it for now.
Corona Capital: U.S. state budget woes 20 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Some conservative U.S. states are hurting as much as liberal New York.
Corona Capital: Kazakhs, Norwegians, Airlines 15 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Kaspi gives ECM bankers something to smile about; Norway’s sovereign wealth fund has a so-so third quarter; and United Airlines has more bad news on jobs.
Australia’s Crown trapped inside its gilded cage 15 Oct 2020 The $4 bln casino empire is facing intense regulatory scrutiny for allegedly dodgy dealings involving Chinese high-rollers. It puts a new resort licence in jeopardy. Billionaire James Packer also has conceded the ownership structure may need changing, but it could be a hard sell.