DraftKings icon on a smartphone DraftKings has submitted a proposal to buy UK-based gambling group Entain in a deal worth about $20bn. [Image: Shutterstock.com]A significant offerDraftKings has made an offer worth $20bn to take over UK-based gambling taobao against taobao correct score group Entain. CNBC first reported about the offer on Tuesday. Most of the offer is said to be in the form of DraftKings stock, as well as cash. On the back of these reports, Entain stock rose about 17% for the da mobilebet365 online casino India y, while DraftKings stock was down about 5%. This reported offer is worth about £25 ($34.16) per share, a 30% premium over Entain’s closing stock price on Monday.Entain has a number of gambling brands under its umbrella, including Ladbrokes, PartyPoker, bwin, and Coral. Its main focus is on the European gambling market.In advance of the news, Entain’s enterprise value was roughly $18bn. As part of a London Stock Exchange filing, the Entain board confirmed that it had received a proposal from the US-based DraftKings. While this filing mentioned the offer was a combination of stock and cash, it did not provide any specifics about the bid price. The filing stated: “A further announcement will be made as and when appropriate. Shareholders are urged to take no action at this time.”A month to make formal bidThis attempt by DraftKings to take over Entain comes not long after the UK-based gambling group rejected an all-stock offer worth about $11bn from MGM Resorts International. Giving a reason for the rejection of this bid, Entain stated that the offer was significantly undervaluing the group. MGM will engage wit taobao soccer h Entain and DraftKings, as appropriate, to find a solution”Entain already had a relationship with MGM Resorts, with the two companies being partners in the US-focused BetMGM online gambling brand. MGM does not have any involvement in the offer from DraftKings to buy Entain. However, consent from MGM would be necessary when it comes to Entain’s US assets. An MGM Resorts statement on the matter said: “MGM will engage with Entain and DraftKings, as appropriate, to find a solution to the exclusivity arrangements which meets all parties’ objectives.”DraftKings has not yet publicly commented on its own bid. The company has until October 19 to make a firm offer as per the City Code on Mergers.Ongoing consolidation of the gambling sectorDraftKings is one of the leaders in the burgeoning online gambling space in the United States. It has sportsbooks, online Best Online Casinos, and daily fantasy sports offerings operational in numerous states. The company only went public in April 2020 following a special purpose acquisition company India Football Predictions Site (SPAC) reverse merger.In the first half of 2021, Entain’s revenue rose 12.2% up to £1.77bn ($2.42bn). It also saw its profits more than double. The majority of its revenue now comes from its online operations. In comparison, DraftKings’ revenue for the first half of 2021 was $609.8m, a 282.3% year-on-year rise.would control about 40% of the US market, overtaking Flutter EntertainmentDraftKings now appears to be the latest operator focusing on the consolidation of the gambling sector. US-based operators appear to be looking at overseas expansion, in addition to leveraging the experience of long-running operators in other markets. According to RBC analysts, a combined DraftKings and Entain entity would control about 40% of the US market, o taobao online Best Online Casino vertaking Flutter Entertainment. DraftKings has also recently committed to acquiring Golden Nugget Online Gaming from Fertitta Entertainment in an all-stock deal worth about $1.56bn.In a similar type of deal, Caesars Entertainment bought UK-based William Hill last year in a t go188 ransaction worth £2.9bn ($3.96bn). Caesars is in the process of selling William Hill’s non-US assets to 888 Holdings for about £2.2bn ($3bn).

Last modified: 2021 年 10 月 8 日