Reports of $20 billion offer from US giant DraftKings confirmed by Entain

Reports of $20 billion  offer from US giant DraftKings confirmed by Entain

Shares in Entain, the owner of Ladbrokes and Coral, surged on Tuesday following reports that major US gambling operator DraftKings was set to make a $20 billion (approx £14.65bn) bid for the company. Entain subsequently confirmed it had received contact from DraftKings, although no sum was mentioned.

MGM Resorts International, Entain’s partner in US joint venture BetMGM, also said that any deal would need its consent.

Following the report by business news channel CNBC, Entain said in a statement: “The board of Entain confirms that it has received a proposal from DraftKings to acquire Entain, the consideration for which would include a combination of DraftKings stock and cash.

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