MGM Resorts says it is aware of DraftKings’ recent $20 billion offer to acquire Entain Plc, noting that the parties would require MGM’s consent before it can go ahead.

MGM and Entain, however, have online sports betting partnership in the US called BetMGM.

Earlier this week, DraftKings made a $20 billion offer to acquire the UK-based online sports betting company, prompting shares to jump 18% in London trading on Tuesday.

MGM in a press release said: “any transaction whereby Entain or its affiliates would own a competing business in the U.S. would require MGM’s consent.”

“MGM’s priority is to ensure that BetMGM continues to capture the growing U.S. online opportunity and realizing MGM’s vision of becoming a premier global gaming entertainment company. MGM believes that having control of the BetMGM joint venture is an important step towards achieving its strategic objectives,” said the company.

MGM said it will engage with Entain and DraftKings, as appropriate, to find a solution to the exclusivity arrangements which meets all parties’ objectives.

Previous articleBetmotion refreshes visual identity and offers new features to Brazilian users
Next articleITL recruit new Business Development Manager for South America
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.


Please enter your comment!
Please enter your name here