Entain's application for a gaming license is approved by the Nevada Gaming Commission
Entain's application for a gaming license in the state of Nevada has been granted approval by the Nevada Gaming Commission. BetMGM is owned by MGM Resorts International and is a 50/50 joint venture between the two companies. The sports betting app offered by BetMGM is powered by Entain, and it caters to gamers in the United States who want to gamble with the MGM brand.
In order to grant Entain a license, the Commission had to first determine whether or not some of the company's leaders, including Jette Nygaard-Andersen, the Chief Executive Officer of the operator, are qualified to hold their positions.
It has been announced that Nygaard-Andersen is going to join the governing board of BetMGM after being evaluated and found to be qualified for the position.
The $20.4 million settlement that Entain paid to the Gambling Commission in the UK in August for social responsibility and anti-money laundering failings was one of the primary points that commissioners brought up in relation to Entain's application to enter Nevada.
On the other hand, the Nevada Gaming Commission is said to have reached the conclusion that Entain had successfully adjusted its compliance processes, most notably with regard to its partnership with BetMGM.
Entain and MGM Resorts have been publicly associated with one another for a number of years, and in 2021, MGM Resorts made a bid to acquire Entain for the sum of $11 billion.
This offer was turned down at the time by Nygaard-Andersen, who had just been appointed at the time, on the grounds that the offer did not match the operator's self-valuation.
The US operating giant never submitted a new proposal, and its CEO Bill Hornbuckle has stated that there is no longer a possibility of acquiring the UK-based Entain. This indicates that the door to any potential acquisition has been shut.
Hornbuckle was cited as stating the following in reference to the proposed acquisition of MGM Resorts: "The short answer on Entain is no, we've moved on."
"Although we continue to maintain a strong emphasis on BetMGM's business through our collaboration with Entain and work to ensure that it continues to expand,"
