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Entain powers BetMGM’s sports betting app, to service US gamers willing to bet with the MGM brand.
The issuance of a licence to Entain included the completion of suitability checks for several executives, including the operator’s CEO Jette Nygaard-Andersen, who appeared before the Commission.
After being deemed suitable, it was reported that Nygaard-Andersen is set to become a member of BetMGM’s governing board.
Some of the key issues raised by commissioners regarding Entain’s application for entry into Nevada included the $20.4m settlement it paid in August from the Gambling Commission in the UK, for social responsibility and anti-money laundering failures.
However, the Nevada Gaming Commission was reportedly satisfied that Entain had modified its compliance procedures – most notably in terms of its relationship with BetMGM.
The public relationship between Entain and MGM Resorts has stretched back some years, with MGM Resorts offering to buy Entain for $11bn in 2021.
This offer, at the time, was rejected by then newly appointed Nygaard-Andersen, who claimed the offer did not meet the operator’s self-valuation.
The US operating giant never came in for a rebid, and its CEO Bill Hornbuckle has now said a door has closed on any deal to acquire the UK-based Entain.
Speaking about MGM Resorts’ acquisition plans, Hornbuckle was quoted as saying: “The simple answer on Entain is no, we’ve moved on.
“While we remain highly focused on BetMGM’s business through our partnership with Entain and making sure that that business continues to grow.”
