SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : DraftKings, Inc. / Online Gambling
DKNG 48.08-2.6%Oct 15 4:00 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: Glenn Petersen9/21/2021 10:34:02 AM
  Read Replies (2) of 233
 
DraftKings makes $20 billion offer for UK sports betting company Entain, sources say

PUBLISHED TUE, SEP 21 20219:46 AM EDT
UPDATED 1 MIN AGO
Hannah Miao @HANNAHMIAO_
CNBC.cpm
KEY POINTS

-- DraftKings is making a $20 billion offer to acquire U.K. online sports betting company Entain, people familiar with the matter told CNBC’s David Faber.

-- On Monday, before news of the deal, the enterprise value of Entain was about 13.2 billion pounds, or $18 billion.

-- Entain rejected an all-stock offer from MGM Resorts earlier this year worth $11 billion at the time.



Omar Marques | LightRocket | Getty Images
-------------------------------------

DraftKings is making a $20 billion offer to acquire U.K. online sports betting company Entain, people familiar with the matter told CNBC’s David Faber on Tuesday.

The offer is largely in DraftKings stock, along with cash, according to the sources.

Entain shares jumped more than 15% in London trading after the news.

On Monday, before news of the deal, the enterprise value of Entain was about 13.2 billion pounds, or $18 billion.

The U.K. gaming company rejected an all-stock offer from MGM Resorts earlier this year worth $11 billion at the time. Entain said the deal significantly undervalued the company.

MGM and Entain maintain an online sports betting partnership in the U.S. called BetMGM.

DraftKings and Entain spokespeople have not returned CNBC’s requests for comment.

Entain’s brands include U.K. poker and gambling companies Coral, Ladbrokes and PartyPoker.

DraftKings went public via a reverse merger with a special-purpose acquisition company in 2020. The online gaming giant operates fantasy sports contests and sports betting.

cnbc.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext