Zona de Azar UK – Entain Shares Rise on Brexit Deal Announcement

UK.- March 01, 2023 www.zonadeazar.com With the new Brexit deal, gambling giants Entain and BetMGM have seen a 50p increase in stock prices. Bets are live on how the news could affect the two companies, their partnership and future acquisitions.

The gambling industry is buzzing with the news of Entain’s 50p rise in its shares following Rishi Sunak’s announcement of a “decisive breakthrough” in post-Brexit rules. The new deal aims to remove trade borders between the UK and the EU, providing much-needed relief to investors worldwide. This latest development has particularly benefited gambling giant MGM, who to date have said no to buying Entain.

Entain plc, formerly GVC Holdings, are partners with MGM on their platform BetMGM but this is as far as the project goes. The gambling industry’s combined revenue has been soaring in the last few months, and the Brexit deal news has accompanied a surge in share prices in what has been a lacklustre few months for Entain.

In an interview with Bill Hornbuckle, the CEO of MGM Resorts International suggested the chance of a buyout was unlikely but said they were in talks with Entain. This news has sparked speculation that the gambling giant could be on the brink of completing a takeover, or at least a significant stake, in Entain.

MGM has previously said any takeover of Entain must be “at the right price.” With the 50p rise in their share prices and the optimism of a post-Brexit deal, this could be the right time for MGM to take the plunge.

As for Brexit, Sunak announced a “decisive breakthrough” in post-Brexit rules; removing trade borders in the Irish Sea looks promising, but we’ve been here before. Unsurprisingly, UK markets experienced a resurgence with better share news than expected before the announcement.

The only setback could be unexpected US inflation rises, prompting fears that interest rates will increase to control pricing, resulting in worldwide uncertain market responses. However, the post-Brexit deal brought short term relief to investors, with Rolls-Royce up 8.96p to 145p, J. Sainsbury up 8.2p to 271.2p, Melrose Industries up 4.55p to 151.25p, and Persimmon, up 43p to 1,438p and most importantly Entain up 50p to 1,356.5p, proving 50p can make all the difference.

Britain has resisted recession, and the world is recovering from natural disasters, so nothing is a sure bet. However, you can rely on two things – death and taxes, so gambling giants Entain and BetMGM will be watching the market closely as they await their post-Brexit fate.

Edited by:  @_fonta  www.zonadeazar.com