US casino company ‘MGM’ has abandoned the acquisition of UK Entaine, and there is concern that MGM’s entry into the online betting market may be hurt.
According to industry sources on Tuesday, the UK betting company Entain rejected MGM’s £8 billion offer to acquire, which is worth about 12 trillion won; MGM has decided not to put in a revised offer to acquire.
MGM is struggling with the Corona 19 Pandemic resort and casino business.
In order to enter the online betting business in earnest, we moved to acquire the British betting company ‘Entain’, which owns Bwin and Ladbrox.
In early January, Entaine revealed it had received various offers from MGM and had also received a £8 billion acquisition offer.
Entaine held a board meeting after receiving a proposal for MGM’s acquisition and concluded that “it is not enough for £8 billion.”
Even in the position of MGM, which was difficult to operate properly last year due to Corona 19 fan demics, further investment seems to have been insufficient.