Jan 4, 2021

MGM Resorts 'looking' to buy' Ladbrokes owner Entain

US casino giant MGM Resorts is looking to buy British gaming company Entain, according to media reports. The new bid comes with financial backing from MGM's largest shareholder, IAC/InterActiveCorp, which took a 12% stake in MGM Resorts last August. At the time, IAC's chief executive Barry Diller said IAC planned to work with MGM to expand its online gambling portfolio. MGM Resorts, which is the operator of the Bellagio casino in Las Vegas, laid off 18,000 furloughed employees in the US in August. Many online gambling companies, by contrast, saw a boost during Covid-19 restrictions, prompting many casino owners to pivot their businesses towards online.

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