Private Equity Firms Bet on the Gambling Market

Venture capital managers and private equity firms bet on the gambling market. From online sportsbooks to casinos, the buyout industry hopes to be lucky with huge investments going into the industry.

Blackstone set the biggest deal last month after purchasing Crown Resorts. According to gambling and sports news coverage, the takeover was worth $6.3 billion. Also, it took Blackstone a year to work a deal with the Australia-based casino operator.

However, it is not just in Australia where investors look for takeover opportunities. Investors are hoping that a post-pandemic recovery will take place in the US. Thus, they browse through a casino directory to find investment opportunities in the country.

Private Equity Firms Bet on Global Gambling

Gambling clubs are at the front of the blast, with buyout firms wagering those clients will rush back to the roulette, poker, and blackjack tables as lockdown limitations ease.

The Crown acquisition achieved a record in 2021. Private equity deals into global casino and sports betting markets reached $6.3 billion last year. Also, it was up from $1.2 billion in the past year. In addition, venture capital deal activity increased $256.5 million in 2020 to $919 million last year.

US buyout monster Apollo struck a few super arrangements last year, procuring Toronto-based casino operator Great Canadian Gaming for nearly $2.6 billion. Also, it is paying $2.25 billion for the working organization of The Venetian, one of the most outstanding known lodging and gambling club resorts in Las Vegas.

UK high street wagering chains stand out of PE firms away from the gambling tables. Last year, William Hill, which has more than 1,400 wagering shops in the UK, was available to purchase by its US proprietor Caesars Entertainment.

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