MGM Resorts pulled out of the $11 billion deal to buy Entain after refusing to make a revised bid for the British sports betting and gaming company. The move comes after Entain had rejected MGM's offer made earlier this month, stating that it was undervaluing the company “significantly”. Entain owns gambling and sports betting sites including Bwin, Coral, and Eurobet. MGM (MGM) shares rose 2.5% to $30.53 on Jan. 19. The company, however, stated that it was still committed to BetMGM - its online sports betting and gaming joint venture with Entain.
https://www.tipranks.com/news/mgm-resorts-walks-away-from-takeover-bid-for-entain