• Loading stock data...
Wednesday, July 2, 2025

DraftKings Pulls $22.4B Entain Offer

  • DraftKings has ended its acquisition talks with Entain after making an initial bid of $22.4 billion for the company.
  • Entain would have given DraftKings a strong international foothold.
DraftKings/Design: Alex Brooks

A major potential merger in sports gambling and gaming has been called off: DraftKings announced on Tuesday “that it will not make a firm offer for Entain at this time.”

The sports betting giant made a $22.4 billion bid for Entain on Sept. 19, representing a 43% premium on the British gambling company’s stock price. That opened a negotiating period of 28 days for DraftKings to finalize the offer, which Entain extended to Nov. 16 with permission from regulators.

Entain would have given Boston-based DraftKings license to operate in 27 countries, a suite of retail gambling outlets in the U.K., and a gambling operations technology platform.

“We are highly confident in our ability to maintain a leadership position and achieve our long-term growth plans in the rapidly growing North America market,” said DraftKings CEO Jason Robins.

  • MGM Resorts, which co-owns BetMGM with Entain, complicated the negotiations. The resorts and gambling company said that any deal between DraftKings and Entain would require its approval.
  • MGM bid $11 billion for Entain in January, which Entain rejected as being too low.

Traders liked DraftKings’ decision: Its stock price jumped 6.9% from close of market Monday to mid-morning Tuesday, before partially giving back those gains. Entain dropped around 6.4%.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mar 15, 2025; Detroit, Michigan, USA; Detroit Pistons guard Malik Beasley (5) celebrates in the first half against the Oklahoma City Thunder at Little Caesars Arena.

Malik Beasley Is Latest Betting-Related Headache for NBA

It’s the third NBA betting scandal in the last year-and-a-half.

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Seattle Rough & Tumble

Women’s Sports Bars Are on the Rise. Survival Isn’t Guaranteed

Some women’s sports bars are cashing in. Others are clawing for funding.

Shitposters Have Taken the Reins of Pro Sports’ Official Voices

Meet the social media pros turning sports teams into internet trolls.

Featured Today

Jun 17, 2025; Sunrise, Florida, USA; Florida Panthers center Sam Reinhart (13) hoists the Stanley Cup after winning game six of the 2025 Stanley Cup Final against the Edmonton Oilers at Amerant Bank Arena

Stanley Cup’s International Summer Tour: Rules, Repairs, and Raucousness

No pro trophy tour compares to the NHL’s three-month global victory lap.
Mar 15, 2025; Fort Worth, TX, USA; UAB Blazers forward Yaxel Lendeborg (3) dribbles the ball upcourt against the North Texas Mean Green during the first half at Dickies Arena
June 22, 2025

NIL Is Shrinking the Pool of NBA Draft Entrants

Agents are now advising many players to stay in school.
Apr 24, 2025; Green Bay, WI, USA; Penn State Nittany Lions defensive end Abdul Carter on the red carpet before the 2025 NFL Draft at Lambeau Field
June 21, 2025

‘More Is More’: The Elite Luxury Jewelers Decking Out Athletes

Meet the elite group of luxury designers crafting the biggest statement pieces.
Dec 5, 2024; Miami, FL, USA; FIFA president Gianni Infantino presents the FIFA Club World Cup trophy during the Club Word Cup draw at Telemundo Studios.
June 15, 2025

Revamped Club World Cup Is FIFA’s Billion-Dollar Gamble

The revamped soccer event debuts amid controversy.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.
March 4, 2025

Eagles Make Saquon Barkley NFL’s Highest-Paid Running Back Ever

Barkley is coming off a historic 2024 season with the Eagles.