Mgm Resorts Is Ready To Highlight £ 8.1 Billion On The Absorption Of Entain
Company entain confirmed that she reced a american casino giant mgm resorts international. Entain, previously known as gvc holdings, manages multiple brands associated with rates, including ladbrokes, coral and sportingbet.
However, brand bosses said that the proposal from one of the leaders of the world gambling market in the amount of 8.1 billion pounds sterling "significantly underestimates the company and its prospects".
Also, the official response was indicated: "the board asked mgmri to provide additional information regarding the strategic justification for the combination of two companies".
It is worth noting that on monday, january 4, the share of entain shares took off following the news about a possible transaction, rising by more than 26% (up to 1434 points).
At the same time, the wall street journal edition reported that the total cost of the offer was still not voiced. Most likely, the size of the transaction will proceed from the price per share of 12.85 pounds sterling (17.56 usd). If the entain owners accept a proposal, the company will significantly increase its presence in both the internet segment of gambling entertainment and in the area of ground casinos.
Experts agree that this contract will be similar to the acquisition by caesars entertainment operator william hill. Then the amount of the transaction was 4 billion dollars, and officially the parties hit the hands in march.
David brohan, goodbody’s gambling analyst, said that the mgm and entain unification can not be called a surprise. He notic: "the ability to bet and play gambling is that major us gaming companies want to fully control. And the actions of caesars in relation to william hill last year a an obvious example of this ".
Recall, caesars entertainment offered 2.9 billion pounds sterling for william hill.