Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. Today we look at a huge US-based merger, Circus Circus sale, restructuring and German deactivation.


DraftKings has entered into a definitive business combination agreement with Diamond Eagle Acquisition Corp, a publicly traded special purpose acquisition company, and SBTech, a turnkey provider of sports betting and gaming technologies, combining the companies into one organisation.

Institutional investors have committed to a private investment of $30m in class A common stock, with the combined company to be valued at $3.3bn and have $500m on hand following the transaction.

It is said that the combination “will become the only vertically-integrated pure-play sports betting and online gaming company based in the United States”.

The transaction is expected to close in the first half of 2020. In connection with the closing, Diamond Eagle intends to change its name to DraftKings Inc, reincorporate in Nevada and remain Nasdaq-listed under a new ticker symbol.


UK-based online gambling giant bet365 will be deactivating its Germany-facing online casino next week, on Monday, December 30.

It is understood the move is in anticipation of regulatory changes in Germany that will come into effect on January 1, 2020, not least the requirement for operators to apply for licence applications in the state of Hesse.

The Stoke-based operator has instructed its affiliates to stop promoting the German casino site, saying that “any promotion of bet365’s non-sports products” must be removed. However, the bet365 online casino will remain available in neighbouring Austria.

Germany is looking to finally build a coherent regulatory framework for online betting and gaming in the country, with interim regulations likely to be in place and being enforced from January 1.

The temporary regulations are expected to remain in place for around 18 months, with a permanent regulatory structure expected to be complete and implemented by the summer of 2021.


An affiliate of Treasure Island owner Phil Ruffin has secured the $825m purchase of Circus Circus Las Vegas from MGM Resorts International, with William Hill subsequently rolling-out a sportsbook deal with the property.

News of the original sale is said to represent a continuation of the MGM’s asset-light strategy, designed to focus on core business as well as maximising value for its shareholders.

The original agreement followed MGM and Blackstone real estate investment trust entering a new joint venture that sees the latter secure the applicable assets of Las Vegas’ Bellagio for $4.25bn

The purchase price is comprised of $662.5m in cash and a $162.5m note due 2024. MGM Resorts plans to utilise the proceeds from this transaction to further its capital allocation strategy and enhance its strategic and operational flexibility.


London-listed gaming technology firm Nektan is in the “advanced stages” of “significant restructuring” that may result on the sale of its UK B2C operations, the company has told investors.

Nektan, which is listed on the UK AIM market, said that as a result of teh ongoing discussions it will most likely not publish its annual accounts for the year to June 30, 2019, on December 31, as AIM market rules dictate.

The delay in publishing the accounts means that trading in Nektan stock on AIM is likely to be temporarily suspended from 7.30am on Thursday, January 2, until the accounts have been published – something Nektan expects will happen “during January 2020”. 

Updating progress, Nektan said that the group is “ahead of expectations and on track to complete 20 new site launches by the end of December,” with further launches scheduled for Q1 2020.


Online gaming group Legacy Eight has sold approximately three million shares in the Bragg Gaming Group, raising $0.75m in the process.

Legacy Eight said in a statement that it disposed of ownership of a total of three million shares in Bragg. The deal, which closed late last week at a cost of $0.25 cents per share, raised $750,000.

In the statement, Legacy Eight said it holds Bragg Gaming shares “for investment purposes” and may acquire or dispose of more in the future.