{"id":107862,"date":"2021-01-08T17:08:19","date_gmt":"2021-01-08T17:08:19","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107862"},"modified":"2021-01-08T17:08:19","modified_gmt":"2021-01-08T17:08:19","slug":"billionaire-barry-dillers-iac-backs-mgms-potential-offer-for-entain","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/billionaire-barry-dillers-iac-backs-mgms-potential-offer-for-entain\/","title":{"rendered":"Billionaire Barry Diller's IAC backs MGM's potential offer for Entain"},"content":{"rendered":"
Slideshow ( 2 images )<\/span><\/figcaption>

(Reuters) – Billionaire Barry Diller\u2019s InterActiveCorp, the largest shareholder in MGM Resorts International, supports the casino operator\u2019s $11 billion takeover approach for Ladbrokes owner Entain Plc, the U.S. company said on Friday.<\/p>\n

MGM said a proposed merger with the British bookmaker would be \u201ccompelling\u201d and believes a deal, amongst other things, would help grow BetMGM, its online sportsbetting operating in the United States.<\/p>\n

Online betting firms have benefited during the COVID-19 pandemic-led lockdowns, as customers took to playing from home when casinos and betting shops were off limits.<\/p>\n

Entain, however, rejected the takeover advance earlier this week, saying it significantly undervalued the company and asked MGM for more information on the strategic rationale for a merger.<\/p>\n

Meanwhile on Thursday, Entain offered to buy smaller rival, Swedish sports betting firm Enlabs AB for about $343 million.<\/p>\n

Shares of London-listed Entain were marginally down 0.1% at 1465 pence on Friday at 0339GMT.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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