Is MGM Resorts the Big Winner If DraftKings Buys Entain?
DraftKings (NASDAQ: DKNG) has until Oct. 19 to decide whether it will formalize its offer for Entain (LSE: ENT), the British bookmaker the sportsbook is trying to acquire for $22.4 billion.
The opportunity for DraftKings to expand into international markets using Entain's market-leading technology may be worth it, even though the purchase price exceeds the sportsbook's own market valuation. Yet even if it is successful in its pursuit, it may be that rival MGM Resorts International (NYSE: MGM) comes out the big winner from the deal.
Image source: MGM Resorts.
Source Fool.com
