GMVHF - MGM Resorts could look to revisit Entain bid Citi says
- MGM Resorts ( NYSE: MGM ) could look to make another offer for sports gambling company Entain Plc ( OTCPK:GMVHF ) after Entain's recent sell-off and sterling weakness, according to Citi.
- Any potential MGM bid likely to be a majority share offering and a proposal would expected to be at a 50% premium to Entain's current share price, according to Citi analyst Monique Pollard.
- MGM originally bid $11 billion for Entain ( OTCPK:GMVHF ) in January 2021, though walked away after its bid was rejected . Draftkings ( DKNG ) also reportedly bid $20 billion in September for Entain, though also later decided to drop its offer.
- Entain has a joint venture with BetMGM. In May, Deutsche Bank provided a bullish view on Entain given its BetMGM upside.
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MGM Resorts could look to revisit Entain bid, Citi says