The title-holders of Partypoker have already increased rake for almost all PKO tournaments. It was the end of three-year research to remove rake from the buy-in bounty component. It has already helped to cut the entry fee in half. It means that Partypoker has returned to the industry standard whereby rake is charged from the entire buy-in.
Therefore, now Partypoker rake is comparable to that of such popular poker rooms as Tiger Gaming, 888poker, BetOnline.ag, and PokerStars. The only exceptions are hyper tournaments, where Partypoker still proposes the lowest rake.
This post will cover the following issues:
- Why has Partypoker increased the rake?
- Is BestPoker going to join Partypoker?
- What happened between MGM Resorts and Entain?
What exactly happened?
According to the PR department of the poker room, during 2020 they experimented with the rake in all PKO MTT tournaments at the same rate as in regular MTTs. The poker room has reinvested all the funds raised in freerolls, satellites, and promos such as Boosted Legends, Boosted Satellites, and Legend of the Week.
Such a player reward has proven to be more triumphant in terms of increasing the number of gamblers. Therefore, PKO MTT fees are in line with regular MTT fees. Consequently, Partypoker will continue to reinvest the funds into brand-new promos, satellites, and additional rewards for players.
BestPoker to join Partypoker?
Enlabs, the owners of BestPoker, recently posted a statement from the Independent Tendering Committee regarding a public offering from Entain (owners of Partypoker). Entain wants to purchase all Enlabs shares. The total price of the deal could be around $340 million. The Tender Committee suggested that Enlabs shareholders agree on the deal, given that the probability of a better offer is near to the ground.
Some of the shareholders, who jointly hold 42.4% of the shares, have pledged to accept the deal as Entain will proclaim the offers unconditional no later than May 16, 2021. So BestPoker, which recently joined the iPoker network, may soon change the ownership yet again.
Partypoker owners rejected merger and acquisition deal
MGM Resorts has made an offer to merge Entain, valuing the probable deal at $11.3 billion. Under the terms of the possible deal, 41.5% of the shares of the newly merged company will remain with the shareholders of Entain. However, the whole control will be passed to MGM.
Partypoker owners consider the proposed amount to be understated. They also declared that MGM considerably undervalued the company. Therefore, Entain has declined the offer.
Entain’s share price has skyrocketed the following day. However, Entain’s owners are likely not only concerned about the price of the deal, as the board asked MGMRI for more data on the strategic rationale for the merger of the two companies.
It should be emphasized that both companies are already fruitfully cooperating. In August 2018, MGM and Entain launched BetMGM. The company operates in nine US states such as Iowa, New Jersey, Indiana, Colorado, West Virginia, Nevada, Pennsylvania, Mississippi, and Tennessee.