Entain share price drops as MGM drops bid plans

Entain share price drops as MGM drops bid plans

Entain PLC, the bookmaking and online gambling group, saw its share price tumble as partner MGM Resorts International dropped plans to make a takeover offer.

US giant MGM made an approach about a full merger worth £8bn two weeks ago, which was rejected by the Ladbrokes and Coral owner.

In a statement today, MGM said it had made the decision to walk away after careful consideration and the limited engagement between the respective companies about its all-share proposal.

Continue reading Entain share price drops as MGM drops bid plans at Sports Betting Operator.