No agreement between MGM and ENTAINnull The news is now official and therefore there will be no merger between the American giant and the British company that for a few weeks has changed its name (first was GVC) and company plan.
The facts and the unofficial proposal
A few weeks ago the American company had advanced a proposal for the merger of the two brands, offering 0.6 MGM Resorts actions for each ENTAIN action. So let's talk about an operation that is around over 11 billion dollars, or about 9 billion euros (this is the value of Entain). Entain's shareholders would have had 45% of the company
In reality, from the early bars of the operation, Entain and by the part of Barry Diller, president of Interactive Operation, MGM's greatest shareholdernull Who said he was willing to economically endorse the operation on which he nourished quite doubts.
The official proposal never arrived
MGM had until February 1st to present an official offer on the basis of the informal one advanced in the weeks before, which could be confirmed, modified and cancelednull In the end, it was decided to cancel that unofficial offer.
At the base of the non -operation there is obviously a purely economic datanull The offer of MGM presented at the beginning of January, in fact, did not satisfy the ENTAIN board, who considered it a figure that underestimated the companynull It is right to emphasize that under the entain brand there are many betting platforms such as Ladbrokes, Bwin, Partypoker, Digital game e Sportingbet.
MGM tried to clarify the possible growth segments, including entry into the US market, but this has not yet satisfied the Board of Directors. TO This point was expected a new counter -proposal of MGM, which however never arrived as it deemed the first offer presented quite congruous according to the operation.
After the official who would have come any offer for the purchase of Entain, a blow on the stock exchange for the English company arrived who, in a single day, has lost over 11% of its valuenull The news of the failure to offer did not particularly shake the British who commented on: "Entain's advice takes note of the announcement made today by MGM Resorts International who does not intend to make an offer for Entain”.
MGM still focuses high
MGM Resort, a real pillar of the traditional casino sector, including several maxi structures of Las Vegas, such as Bellagio and Grand Vegas, thus explained his decision not to submit a new offer: "Betmgm, our sports betting company and online games in the United States with Entain, It remains a key priority for the company while we continue to exploit our physical game platform, from entertainment and hospitality to then expand us digitally“, These are the words of Bill Hornbuckle, CEO of MGM, which then continues: "We believe that Betmgm has established himself as one of the first three leaders in his markets and we continue to commit ourselves to working with Entain to ensure that his strong momentum continuous because it involves being operational in 20 states by the end of 2022“.
News and changes in Entain
These last weeks have certainly represented a moment of excitement and great changes, starting from the change of denomination until the resignation of the now ex CEO, Shay Segev arrived at the court of Dazn and the appointment of Jette Nygaard-Centronull It seems that at the basis of the resignation of Segev there may be precisely the choice of the board of directors not to approve the joint venture with MGM. At the moment, however, Entain does not seem to have suffered any blow from the non -request for merger and, indeed, would be ready to acquire a new platform, the leader in the Baltic countries.
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