A pedestrian walks past a branch of Ladbrokes in London December 22, 2017. — Reuters pic
MGM and Britain’s Entain, formerly known as GVC, have had a joint venture since 2018, when they set up an online betting platform in the United States. A deal would raise questions over the future of UK high street betting shops after Caesars said it could sell off William Hill’s non-US operations. However, an Entain spokesman told Reuters there was no detail on that yet.
Davy Research analysts also said the proposal undervalued Entain’s operations, including its prospects in the United States, adding that MGM’s flexibility and ability to improve its offer will be key.
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