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Entain are too restricted right now
-1.22%, a small rise indeed! ;)
RNS shows institutional interest continues - expecting small rise in sp today.
Does seem strange we compete in UK with MGM, agree we’ve been out manoeuvred….
MGM advertising and offers everywhere, inc PL football and ENT agree to boycott this with other big players!!
9% drop in 2 days ouch!!!
The whole Entain/MGM Resorts relationship (50/50 in BetMGM in the USA) now looks unstable and untenable. How can Entain operate with MGM Resorts as a partner in the USA and as a competitor in the rest of the world? BetMGM has now opened up in the UK as a direct competitor to Entain. Entain may have a 50% interest in BetMGM but it would rather enjoy 100% of any business in the UK. Talk about having your own technology used against you! How and why did the Entain directors permit this? I have written before that American bosses are a sharp, focused and if needs be, ruthless bunch to deal with. It looks to me that the Entain directors have been hopelessly outmanoeuvred.
Where this ends: I wish I knew.
AceOfClubs
Bought some more on the strength of the X partnership news - but why no RNS?
... about the partnership with X has got to be a big positive for ENT surely..?
BetMGM FY 23 update on 8/2/24
From their investors website, full year's results on 7th March.
When is the next trading update from ENT? Recent results in UK and US football seem favourable!!
Not seen anything on new CEO either. Hopefully sorted sooner rather than later…..
Any reply appreciated
I guess the share price may drift down slowly until a new CEO is appointed. Needs to be someone with industry experience unlike the last one…..
I won't be at all surprised if we start seeing buy out offers now. MGM perhaps
More than just a Board appointment..
Interesting, thanks !
FYI.
https://seekingalpha.com/news/4047836-entain-is-seen-potentially-selling-betmgm-stake-to-mgm-resorts
https://seekingalpha.com/news/4047176-entain-expected-to-add-activist-ricky-sandler-to-board-report
I do hope holders are not sold out cheaply - but with no respected CEO and the never ending list of "compliance" issues it could happen.
AceofClubs
Resistance at £10?!? Daily increases are nice tho….
Never be allowed, it would mean Entain owning too many betting shops as 888 own Hills.
Could Entain takeover 888 or would that be against competition rules?
Jeffries reduces to£850 a few weeks ago and now raises to £1250.
Clueless.
Seems to be action behind the scenes….. fingers crossed!
Interesting week ahead ,especially if the much rumoured Board appointment is made
Exactly, the offer was made on Tuesday the 21st September 2021 and turned down. There has been no further offers made that I can find.
Sept 21 for clarification
HaEntain confirmed on Tuesday that DraftKings had approached the company with a $22.4bn proposal to acquire the group, but U.S. partner MGM Resorts quickly warned both companies that any deal requires its approval first.
“MGM is Entain’s exclusive partner in the U.S. online sports betting and iGaming market through our highly successful 50/50 joint venture BetMGM LLC,” the Las Vegas-based gaming company said in a statement released shortly after Entain confirmed reports of an approach from DraftKings.
“As a consequence, any transaction whereby Entain or its affiliates would own a competing business in the U.S. would require MGM’s consent.”
Entain shares rose 18 percent Tuesday after the companies confirmed that Boston-based DraftKings had made a surprise offer for the London-listed operator.
The proposed offer in cash and equity was first reported to be worth around $2obn by the business news network CNBC in New York.
In a statement on Tuesday evening, however, Entain said an initial DraftKings offer of 2,500p per share was rejected and the Boston-based company returned with the latest proposed offer made on September 19 of 2,800p per share, about a quarter of which is payable in cash and the remainder in newly-issued DraftKings shares.
Entain said it would “carefully consider the proposal.”
That price, about a 45 percent premium on Monday’s closing price, would dwarf the $11bn offer by MGM which was rejected in January by Entain.
MGM still has designs at least on Entain's stake in the U.S. BetMGM venture, with CEO Bill Hornbuckle telling a JP Morgan investor forum earlier this month that “we do critique ourselves for giving up 50 percent of the business.”
On Tuesday, MGM said in its statement that the company “believes that having control of the BetMGM joint venture is an important step towards achieving its strategic objectives.”
MGM also said it would engage with both Entain and DraftKings, as appropriate, to find a solution to the exclusivity arrangements regarding BetMGM which meet all parties’ objectives.
Truist Securities analyst Barry Jonas said he could see DraftKings' approach for Entain as a positive for MGM if the Nevada company was able to walk away owning 100 percent of BetMGM.
“While MGM could still offer a competing bid for all of Entain, we think it makes more sense for them to just buy Entain’s 50 percent share of BetMGM,” Jonas wrote in a research note. “MGM owning all of its online business would be a clear long-term positive, in our view, though price would obviously be an important factor.”
Entain stock rose to 2,261 pence per share, an all-time high for the parent company of the Ladbrokes, Coral, bwin and PartyPoker brands. In contrast, DraftKings shares lost $4.23, or 7.42 percent, to close at $57.22. per share on the Nasdaq.
Entain shares rose almost a further 10 percent on Wednesday morning in just the first 10 minutes of trading on the Londo
So the speculation is only from you.