An $18 billion proposal by the billionaire media mogul Barry Diller to buy MGM Resorts International has fueled speculation that the company may seek to buy out Entain’s share of its American joint venture.
Diller’s People Inc, which already owns 26.1 per cent of MGM’s shares, has submitted a $48.30-a-share cash offer for the world’s largest casino operator, representing a 10.6 per cent premium to Friday’s closing price…
Analysts at BNP Paribas said that while the takeover bid does not directly suggest any immediate interest in either Entain as a whole, or in its 50 per cent stake, they believe a possible change in ownership at MGM “could lead to an acceleration of management ambitions to fully consolidate BetMGM”.
