Earlier this year Entain rejected an $11bn takeover bid from MGM, the offer was deemed far below the company’s value.
DraftKings’ proposed bid was made up mostly of stock offerings. The sportsbook’s share price is currently $53.65, meanwhile Entain is valued at $30.40, an all-time high for the company.
Should the bid be accepted it would see DraftKings continue its operations outside the US which began with the takeover of SBTech, a move that significantly increased the company’s value.
Recently DraftKings launched its micro-betting platform with Simplebet, allowing players to make in-play bets on a number of different sporting events.
Update: Entain confirmed its recieval of the bid, stating it “would include a combination of DraftKings stock and cash".
