MGM’s largest shareholder supports the potential offer for the owner of Ladbrokes

    (Reuters) – Casino operator MGM Resorts International said Friday that its largest shareholder, InterActiveCorp, supports its $ 11 billion acquisition approach for Ladbrokes owner Entain Plc.

    The US-based company said it considers a proposed merger with the British bookmaker “compelling” and that a deal would, among other things, help grow BetMGM, its online sports betting operating in the United States.

    Entain earlier this week turned down the takeover advance, saying it greatly underestimated the company and asked MGM for more information on the strategic rationale for a merger.

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    Reportage by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli

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