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MGM Resorts Wants to Extend Reach by Purchasing Entain

6 January 2021, 09:25
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News about the betting market in the US can be very challenging soon as this sector of the gambling industry has a chance to develop and thrive.

MGM Resorts Wants to Extend Reach by Purchasing Entain

That is why the market’s most influential players start to search for opportunities, which will allow them to become leaders in the region. MGM Resorts estimated the capabilities of the US bookmaking sector and made an offer to Entain – one of the largest sports betting companies in the world.

The content of the proposal

MGM Resorts offered eleven billion dollars, which were divided between stocks and money. The firm was ready to give 0.6 of its shares that estimates Entain’s stocks at 13.83 pounds. It is important to mention that the British gambling giant’s shares have raised in price by twenty-five percent for the last year.

However, Entain didn’t consider the proposal reasonable. The company representatives have confirmed that the offer doesn’t reflect its development opportunities and the overall value. Entain has asked MGM for providing a clear picture of how their consolidation will influence the expansion strategy. Experts of the bookmaking vertical said that this business merger would lead to the creation of one of the biggest and most powerful gambling operators.

Read more: What was the 2020 forecast for the American iGaming industry?

Read more: Top sports betting software providers

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