MGM Resorts International is rumored to be preparing for a new takeover bid for Entain, the gambling group that includes Ladbrokes, Coral and Gala Bingo. A report on thisismoney.com cites unnamed sources who say MGM will take another crack at acquiring Entain later this year.
MGM previously bid for Entain in January 2021, but its £8.1billion offer was rejected as too low. The sources say a new bid is likely after potential new rules affecting gambling businesses are published by the U.K. Gambling Commission, in a long-awaited white paper to be published as early as March.
Entain currently partners with MGM on the BetMGM joint-venture online gaming and sports betting group, which generated more than $1.2 billion in revenue last year.
