“The board of Entain will carefully consider the proposal,” said Entain, led by new CEO Jette Nygaard-Andersen. DraftKings has until Oct. 19 to either make a firm bid or walk away. DraftKings’ interest comes weeks after it clinched a $1.6 billion deal to buy U.S. rival Golden Nugget. JP Morgan analysts said that to win MGM’s approval, DraftKings may have to sell Entain’s 50% stake in BetMGM to MGM, leaving DraftKings with Entain’s rest-of-the-world operations, as well as its technology and expertise. Alternatively, DraftKings could seek to merge with BetMGM, giving MGM a stake in the new company.

Source: MetroXpress September 22, 2021 09:56 UTC