Entain – which co-owns the BetMGM joint venture 50:50 with MGM – announced today that US online operator DraftKings has submitted a proposal for a stock-and-cash deal to acquire the business.
However it stressed that this proposal was not a firm offer, and as such did not reveal terms being discussed. Reports from CNBC – which Entain’s announcement was in response to – suggested the bid could come to $20bn, while sources suggested to iGB that it may be even higher than this.
MGM, for its part, pointed out that any deal in which its joint venture partner would run a competing US betting business would require the consent of MGM.
Read the full story on iGB North America
Original article: https://igamingbusiness.com/mgm-to-fight-for-betmgm-amid-draftkings-entain-merger-talks/
