Online gambling is suddenly the hottest segment of the international gambling market. DraftKings (NASDAQ:DKNG), Everi Holdings (NYSE:EVRI), GAN Limited (NASDAQ:GAN), and even Penn National Gaming (NASDAQ:PENN) have been shooting higher for the past six months on hopes that online gambling will be a highly profitable business for them.
But the traditional gambling industry may still have a few tricks up its sleeve. MGM Resorts (NYSE:MGM) is one of the biggest online gambling companies in the U.S. already, and it is slowly expanding its presence. And Caesars Resorts (NASDAQ:CZR) is only now starting to take online gambling seriously.
This week, it’s Caesars that may be ready to make a big move into the market by buying its online gambling partner William Hill.
Caesars’ big move
The news on Friday was that Caesars and private equity firm Apollo have both submitted cash offers to acquire