US Online Gambling Sector Booms with Record Revenues and Major Acquisitions

The US gambling sector is on a remarkable trajectory, with predictions that the 2019 record of $43.6 billion revenue will be surpassed before the end of 2021. This surge is largely driven by the online gambling sector, which has shown significant promise over the past few years.

DraftKings, the leading daily fantasy sports provider, has made a strategic move by acquiring Golden Nugget Online Gaming (GNOG) in a deal worth approximately US$1.56 billion. This acquisition not only brings a partnership with the NBA team the Houston Rockets but also grants DraftKings access to a database of five million customers. This move is expected to significantly boost the igaming side of the business.

Earlier this year, MGM launched a takeover bid for Entain, the owners of Ladbrokes, offering £8 billion. Although the deal was refused, it underscores the increasing interest of American gaming giants in the UK's mature online gambling market. This dynamic could potentially attract British talent to the US, further fueling the growth of the online gambling sector there.