GMVHF - Entain gains on report that MGM Resorts could explore deal after UK whitepaper

Entain Plc ( OTCPK:GMVHF ) ADRs rose 4% on a report that MGM Resorts ( NYSE: MGM ) could look to renew a takeover offer for the company after the UK Gambling Commission's publication of its whitepaper. Entain rose 2.5% earlier in trading in London.

An MGM takeover bid for Entain is likely inevitable after the long-delayed whitepaper on gambling is published, according to a CTFN report earlier Thursday, which cited an industry source and banker. The whitepaper could be published in late March.

A spokesperson for the UK Department of Digital, Media, Culture & Sports told CTFN that any discussion about timing of the whitepaper is speculation.

The latest updates comes after sources told the Off Shore Gaming Association blog in late November that MGM ( MGM ) is reported to have increased interest in acquiring its BetMGM joint venture partner Entain ( OTCPK:GMVHF ) .

A Citi analyst in July wrote that MGM ( MGM ) could look to make another offer for the U.K. gambling company Entain.

Entain ( OTCPK:GMVHF ) turned down an all-stock takeover bid from MGM in January of 2021, as well as a cash and stock offer from DraftKings ( DKNG ) in September 2021.

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