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Entain is trying to respond by simplifying itself. It has agreed to sell an initial 20% stake in Entain CEE for €425 million, implying an enterprise value of about €2.1 billion. The company says proceeds from the transaction and any future exit will be used to reduce debt and, subject to leverage objectives, return excess capital to shareholders.

The strategy is less about rapid growth and more about showing that a cash-generating business with falling debt and improving operations is undervalued.

By looking at four major gambling companies – Entain, Flutter, DraftKings and MGM Resorts International – it becomes clear why the sector should not be treated as a single trade.

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The LVCVA launched the “Vegas 5-Day Sale” last year in response to growing public sentiment that Las Vegas no longer provided value and that resorts were focused on nickel-and-diming customers. Many on social media criticized the tourism agency’s efforts as “too little, too late.”

The LVCVA, however, seemingly found the campaign successful, returning the five-day sales event this year.

Vegas is where travelers come to trade the expected for the unforgettable. The ‘Vegas 5-Day Sale’ gives visitors even more reasons to book the trip they have been talking about, whether that means checking into an iconic resort, seeing a favorite artist live, celebrating a milestone, or simply making a little room for spontaneity,” said Kate Wik, chief marketing officer at the LVCVA.

What is Fat Choy Choy Sun?

The proposition is already being tested commercially. Live casino supplier Eeze has become the first supplier to utilise Studio in a Box as it looks to expand its proprietary content into slots. Using Yggdrasil’s framework also gives Eeze access to its wider distribution network.

The first games are expected towards the end of the year, with the partnership ultimately targeting a release cadence of two games per month. For Curwen, Eeze demonstrates the demand among established gaming businesses for greater ownership of their content strategy without the cost and complexity of creating a conventional development operation.

The implications could extend well beyond companies already established in other areas of gaming.