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MGM Plans to Buy Ladbrokes Owner Entain

Published by

December 5, 2024
(GMT+2)

MGM Resorts International is planning on buying British gaming company Entain PLC, according to the people familiar with the matter, in the most current move by a casino operator to double down on the red-hot online gaming industry.MGM recently made an offer to acquire the owner of the British gambling brand Ladbrokes, which has a market value of an estimated $9 billion, the people said. The offer, which would have a considerable stock component, comes after an earlier, estimated $10 billion all-cash overture was declined. The new bid comes with financial backing from MGM’s biggest shareholder, IAC/InterActiveCorp., the people said. The requested details and value of the new bid couldn’t be learned, but it is over the $17.56 a share that MGM had proposed late last year, the people said. There is no guarantee Entain will be open to the new offer or that there will be a deal.

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