Online gaming giant DraftKings makes $20 billion offer for parent company Ladbrokes

Online gaming giant DraftKings makes $20 billion offer for parent company Ladbrokes

The offer is confirmed in a notification from Entain to the London Stock Exchange. Entain is the parent company of Ladbrokes, Coral and PartyPoker, among others.

In response to the message, the Entain share price shot up 18% on the stock market. DraftKings dropped 5%.

Earlier, the British gaming company rejected an offer for shares worth $11 billion from MGM Resorts. That offer would “significantly undervalue the company’s growth,” Entain said.

DraftKings, founded in 2012, has recently expanded significantly in the so-called fantasy games, where players in all kinds of existing and invented sports compete against other teams online. Sports teams with professionals also participate for a fee.

Basketball deal

DraftKings has made several deals with the American Major League Baseball for collaboration, sponsorship and online basketball games in recent years.

Online game company GameKings would like to acquire parent company of British gambling sites Ladbrokes.

ⓒ ANP/HH

In 2016, DraftKings, which went public last year, tried to take over its competitor FanDuel. That deal was blocked by the American regulator, because the newly formed company would control 90% of the American online market.

Both companies gave no further response to American media.

Online gaming giant DraftKings makes $20 billion offer for parent company Ladbrokes | Financial
Source link Online gaming giant DraftKings makes $20 billion offer for parent company Ladbrokes | Financial

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