Entain is reportedly selling partypoker and has plans for BetMGM

Entain is a global name in the poker business. It owns leading brands like partypoker, Bwin, Coral, and Ladbrokes. However, recent news indicated that the brand wants to sell its online poker room, partypoker. Other reports imply that the company will dedicate more resources to BetMGM. It co-owns 50/50 of the brand with MGM Resorts International (MGM).

Entain’s Brand

Entain is a significant player in the iGaming world and has fingers in many pies. The brand is primarily known for its co-ownership of BetMGM, and its brands Ladbrokes, Coral, and, of course, partypoker.

Partypoker’s Possible Sale

Sky News recently reported that Entain is hiring sales consultants to possibly sell partypoker. The company itself hasn’t released any information regarding this. However, various sources indicate the company believes partypoker to be a non-core asset.

Industry experts estimate that the poker room’s sale value is around £150 million ($191.8 million). This amount is a shockingly small percentage compared to its parent company’s original value in 2005, around £5 billion.

PartyGaming was once worth almost £10 billion at its prime. However, partypoker’s current price tag is more than the parent company could have sold the room for back in the day.

Still, other sources, like an advisor from E+M, state the company will even be willing to sell other non-core assets. These assets include Coral, Foxy, Crystalbet, SuperSport, Eurobet, and Enlabs.

BetMGM’s New Direction

Along with the possible sale of partypoker, there’s news about new BetMGM plans. Entain’s interim CEO, Stella David, stated on an earnings call discussing 2023 that the company plans to dedicate more resources to BetMGM.

This “feed” will ensure the brand gets quality and US-tailored products. It’ll also improve its customer support experience.

David stated that the effort it took to deliver better products and services to BetMGM at a reasonable pace was affecting their performance in other markets. With the new plans, the company can better manage its resources and ensure BetMGM is improved while also focusing on different key markets.

The Future of BetMGM and Partypoker

While we require more input from Entain to judge what’s the future of these two brands accurately, experts have the following predictions:

• Entain provides MGM with technology to power BetMGM Poker and other brands like Bwin.
• Entain delivers the technology to a third-party operator who leases it back to BetMGM Poker.
• MGM finds a new supplier for its poker offering.
• DraftKings buys partypoker.

If a third-party operator acquires the technology, there’s always the chance of them not leasing it to MGM. We know that DraftKings previously tried to buy Entain for $22.5 billion, and by acquiring partypoker, it’ll be able to enter the states in which the poker room operates.

Entain’s Future

Nothing is set in stone yet, as Entain hasn’t officially announced its plans. It’s difficult to say how it’ll pay out without more concrete evidence. However, what’s sure is that the company is changing things around to offer a more dedicated approach to providing the best quality products.