• Loading stock data...
Thursday, December 12, 2024
The 2024 Best Employers in Sports Award winners have been announced! See the full list of winners

MGM Resorts Ends Entain Takeover Bid

  • Entain rejected an $11 million MGM Resorts takeover bid this month.
  • The two companies are partners in BetMGM.
Eric Seals, Detroit Free Press

MGM Resorts has ended its takeover attempt of British gaming company Entain. 

The news follows a string of offers from MGM to acquire its partner in the sports betting joint venture BetMGM.

Entain, formerly GVC Holdings, rejected two offers from MGM, including one for $11 billion earlier this month, saying it undervalued the company.

Entain owns major betting brands like Ladbrokes, bwin, PartyPoker and Coral.

An MGM and Entain merger would have created one of the largest gambling companies in the world with major physical and online presences.

Since news of MGM’s efforts to acquire Entain emerged, Entain acquired Swedish gaming firm Enlabs for $333.5 million. CEO Shay Segev announced plans to leave for a co-CEO position at sports-focused streaming service DAZN as well.

MGM shares finished up 2.45% on Tuesday.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 15, 2024; Arlington, Texas, UNITED STATES; Mike Tyson (black gloves) fights Jake Paul (silver gloves) at AT&T Stadium.

Netflix Spectacle Made Tyson, Paul Top Trending U.S. Athletes of 2024: Google

The Yankees and Dodgers were among the top trending sports team searches in 2024.
Oct 22, 2024; Kansas City, MO, USA; TCU Horned Frogs center Sedona Prince (13) talks to media during Big 12 Women’s Basketball Media Day at T-Mobile Center.

Athletes in Landmark House Case Ask for College Players’ Association

Plaintiffs in the House v. NCAA case want more than just revenue-sharing.
DraftKings

Sens. Say DraftKings, FanDuel May Have Conspired to Crush Competition: ‘One Company’

The senators asked the FTC and DOJ to investigate the gambling companies.
Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.

Featured Today

Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
November 30, 2024

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?

Poker Pro Pleads Guilty to ‘Massive’ Sports Betting Tips Fraud

Cory Zeidman ran a scheme that amassed $25 million over 14 years.
Sports betting Analyst Steve Coughlin gives out high-fives on the set of ESPN's College Game Day at the University of Texas, ahead of the Longhorns' game against the Georgia Bulldogs in Austin, Oct. 19, 2024.
November 7, 2024

ESPN Bet at Critical Point As Penn Reports Quarterly Earnings

The two sides agreed to a 10-year deal last August.
DraftKings
November 8, 2024

DraftKings Lowers Full-Year Guidance After Brutal NFL Outcomes

DraftKings cited a tough start to the fourth quarter in lowering its 2024 guidance.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Nov 4, 2024; Kansas City, Missouri, USA; Kansas City Chiefs wide receiver DeAndre Hopkins (8) celebrates with quarterback Patrick Mahomes (15) after scoring against the Tampa Bay Buccaneers during the second half at GEHA Field at Arrowhead Stadium.
November 6, 2024

Missouri Becomes 39th State to Legalize Sports Gambling

Missouri was the only state with sports gambling on its ballot this election cycle.
November 5, 2024

On the Ballot: Sports Betting, Former Athletes Impacting the 2024 Election

Several U.S. Senate candidates have sports backgrounds, while Missouri voters will consider legalizing sports betting.
Tony Hinchcliffe at Donald Trump rally.
November 4, 2024

Sports Betting Companies Holding Comic at Arm’s Length After Trump Rally

Hinchcliffe drew criticism over his comments at a rally for Trump.
November 1, 2024

Polymarket Is Pushing Into Sports Betting

Once the ballots are counted, Polymarket needs to take on sports.