Shares of Entain plc tumbled as much as 13% on Thursday after U.S-based MGM Resorts International said it had “moved on” from pursuing an offer for the British gambling firm.
Although MGM remains focused on online sportsbook BetMGM – its joint venture with Entain – it saw great potential in expanding LeoVegas, a Swedish online gaming company it bought last year, MGM Chief Executive William Hornbuckle said on Wednesday.
While Entain rejected a takeover approach worth roughly $11 billion from MGM back in 2021, there has been market chatter about another attempt from the casino operator to buy Entain or its North American operations…
Entain’s shares fell as much as 13% to a more-than-one-month low of 1365.5 pence in morning trade.
