MGM to fight for BetMGM amid DraftKings-Entain merger talks
| By Daniel O'Boyle
MGM Resorts International says it has no intention of selling its stake in BetMGM, as joint venture partner Entain is courted by DraftKings.
![BetMGM](https://igamingbusiness.com/img-srv/TW86e4HsSrOlWwUMI5AjSuQbo1a8U8uNnaKpWO6_zuo/resizing_type:auto/width:0/height:0/gravity:sm/enlarge:1/ext:webp/strip_metadata:1/quality:90/bG9jYWw6Ly8vaWdhbWluZ2J1c2luZXNzLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAyMC8wOS9KYW1pZS1Gb3h4LWUtYS1Fc3RyZWxhLWRhLU5vdmEtQ2FtcGFuaGEtZGUtQXBvc3Rhcy1kYS1CZXRNR00uanBn.webp)
Entain – which co-owns the BetMGM joint venture 50:50 with MGM – announced today that US online operator DraftKings has submitted a proposal for a stock-and-cash deal to acquire the business.
However it stressed that this proposal was not a firm offer, and as such did not reveal terms being discussed. Reports from CNBC – which Entain’s announcement was in response to – suggested the bid could come to $20bn, while sources suggested to iGB that it may be even higher than this.
MGM, for its part, pointed out that any deal in which its joint venture partner would run a competing US betting business would require the consent of MGM.