MGM Resorts Reportedly Making New Entain Offer Push

Earlier this year Entain's board of directors rejected a purchase offer from MGM Resorts, but it looks like the latter may be accumulating assets for a second bid on the business.

The earlier bid of $11 billion was rejected as being too low, but news this week showed that MGM Resorts sold its share of MGM Growth Properties. That movement could give MGM the cash it needs to put forth a more competitive offer. The closure of the sale would see MGM with $11.6 billion in domestic operations liquidity, which could help facilitate the financing of an Entain purchase.

Entain is a huge gaming operator that oversees mega-brands like Ladbrokes, Coral, Gala Casino, and more.

American betting groups have been going all-in with European online betting firms, as they're relying on them to help launch into the growing online gaming market throughout the United States. Caesars Entertainment recently purchased UK betting group William Hill, while Bally's Corporation has signed a purchase deal with Gamesys.

Both companies have not commented on the potential of a new offer, but Entain shares rose 8% on the news.

Casino Listings News has our ears to the ground and will be updating readers as we learn more.

Related casinos

CasinoJurisdictionRatingPlay
Coral CasinoGibraltar, U.K.
Gala CasinoGibraltar, U.K.
Ladbrokes CasinoGibraltar, U.K.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.