MGM mulls new bid for British-based gambling giant Entain: sources

MGM mulls new bid for British-based gambling giant Entain: sources

Article brief provided by Financial Mail on Sunday
  • Francesca Washtell, Financial Mail on Sunday
January 22, 2023 8:18 PM
  • Francesca Washtell, Financial Mail on Sunday

Casino giant MGM Resorts is mulling another takeover bid for FTSE-100 gambling group Entain, owner of Ladbrokes, Coral and Gala Bingo, later this year, according to City sources.

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The US company previously made a swoop in January 2021. However Entain, led by Danish businesswoman Jette Nygaard-Andersen, rebuffed the £8.1 billion approach on the grounds the price was too low.

Analysts believe the bid is likely to be revived once the UK Gambling Commission has published its long-delayed white paper.

This has been a stumbling block for bidders, who are keen to know what it contains because new rules could have a big impact on the valuations of UK gambling businesses.