M Resort operator to buy sports media and gaming company in $2B deal
Dan Etna, co-chair of Herrick's Sports Law Group, spoke to the Las Vegas Review-Journal about the strategic impact of the acquisition of Score Media and Gaming by a Las Vegas casino operator. The article states, "The agreement between Penn National Gaming and Score Media and Gaming, or theScore, will create what company leaders called a first-of-its-kind company in sports betting, digital media, technology and content."
The article further notes that "[n]ews of the deal was well-received by multiple gaming industry watchers" and that the acquisition differentiates Penn National from gaming businesses.
Etna commented that Penn National will gain theScore’s existing tech infrastructure. "They’re putting together some more critical mass, so that they can bob and weave and run with the larger players in the industry right now," he explained.
Etna said the deal is part of a "natural progression" of the tightening relationship between media companies and sports betting. He elaborated that "[i]f a customer wants to place a sports bet, chances are they follow sports and have a favorite team. It makes sense for companies to offer both personalized team news like theScore does and sports betting in the same place."
Otherwise, "it’s like going into a fight with one hand tied behind your back, right?" Etna said.
Read the full piece in the Las Vegas Review-Journal here. Access may require a subscription.