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Home/MGM Resorts reportedly considering a new offer to buy Entain
MGM Resorts is reportedly considering a new bid to buy Entain
At the moment, there are more and more rumors and economic analyses circulating around the American land-based casino giant MGM Resorts International, which is reportedly considering a new bid to buy Isle of Man-based online gaming operator Entain.
Most sources expect a formal proposal to be made after the long-delayed publication of a white paper on UK gaming, which is now expected around March next year.
Rejection of a previous $10 billion offer
Founded around 1870, Deutsche Bank is the largest German bank and the 8th largest in Europe by capitalization. In a recent report, it has suggested that a merger between MGM Resorts International and Entain is not only possible, but is an obvious combination that should be approved by the shareholders of both companies.
The American land-based casino giant is currently valued at around $15 billion. For its part, the operator Entain is currently valued at around 11 billion dollars.
During the month of January 2021, the latter has already rejected a $10 billion proposal which was for stock only, made by MGM Resorts International.
Moreover, he also refused another offer in cash and shares from the DraftKings group in September of the same year (see article below).
MGM Resorts International is reportedly just waiting to hear more about future UK regulations
Despite a previous refusal, many analysts believe that the American land-based casino giant could well make a new bid in the future. It is just waiting for the British government to finally publish its white paper on the review of the Gambling Act.
Indeed, MGM Resorts International would like to know more about the new UK gambling regulations before trying to get its hands on the Entain operator again. This is because it could put in place some extremely strict measures.
To take full control of BetMGM and increase its positions in online gaming
It should be known that MGM Resorts International and Entain are partners in the BetMGM joint venture, which is currently the largest online casino operator in the United States and one of the leading sports betting operators on the web. As it is quite close to profitability, the American giant would like to take full control.
In addition, it could greatly increase its position in the online gambling market at the international level. Indeed, Entain is one of the most important operators in this field in the UK. It owns several well-known brands such as Party Poker, Ladbrokes, Sportingbet and Bwin.
Since rumors of MGM Resorts International’s potential bid began circulating, Entain’s shares have rallied on the London Stock Exchange and gained nearly 4% in U.S. trading.
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