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MGM considers fresh bid for Entain

MGM considers fresh bid for Entain

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According to sources within the financial world, MGM Resorts is considering mounting a second takeover bid for the UK’s Entain group, owner of Ladbrokes, Coral and Gala Bingo.

MGM made an initial offer for the group two years ago, but their £8.1 billion bid was considered to be too low. The feeling in London is that a further attempt will be made once the UK Gambling Commission has published its long-delayed white paper, and the uncertainty surrounding its contents has been relieved.

Entain is now valued at £8.9 billion, an increase of £800m on the 2021 offer, but CTFN, the banking news website, has described a deal as “inevitable”.