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It also declined to comment on speculation that it will make one more attempt to acquire Entain or obtain out Entain’s stake in BetMGM. As BetMGM has grown, so as well has its strategic importance to MGM, and Hornbuckle has grown increasingly interested in making sure MGM has majority manage of the venture. In early January 2020, Entain confirmed press reports that MGM had created an unsolicited bid to obtain not just the entirety of BetMGM, but all of Entain, for $11 billion in shares. MGM also presented that, as an alternative, it could make a partial cash payment to Entain’s shareholders. The give equated to a 22% premium to Entain’s valuation at the time. And that was ahead of DraftKing’s present, which sent Entain’s shares soaring yet another 24%.
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Business Enterprise
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