MGM seeks to buy Ladbrokes owner Entain - WSJ
Reuters
Published Jan 03, 2021 21:56
Updated Jan 04, 2021 00:15
(Reuters) - MGM Resorts International is seeking to buy British gaming company Entain Plc in the latest move by a casino operator to double down on the online-gambling business, the Wall Street Journal reported https://on.wsj.com/3ohletm on Sunday, citing people familiar with the matter.
The Las Vegas, Nevada-based company recently made an offer to buy the owner of the popular British gambling brand Ladbrokes (LON:LCL), the report said, adding that the bid comes after an earlier offer of roughly $10 billion all-cash overture was rebuffed.
The exact details and value of the new bid is not known, but is above the 12.85 pounds ($17.55) a share MGM had previously offered late last year, the Journal said.
Entain has more than 3,000 betting shops under the Ladbrokes and Coral brands. It rivals William Hill and Flutter Entertainment in Britain.
MGM and Entain declined to comment to Reuters' request.
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Written By: Reuters
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