Benzinga | Sep 21, 2021 11:59AM EDT

MGM Resorts International Issues Statement Regarding DraftKings' Possible Offer For Entain

MGM Resorts International ("MGM") is aware of DraftKings Inc.'s ("DraftKings") possible offer for Entain plc ("Entain").

MGM is Entain's exclusive partner in the U.S. online sports betting and iGaming market through our highly successful 50/50 joint venture BetMGM LLC ("BetMGM"). As a consequence, any transaction whereby Entain or its affiliates would own a competing business in the U.S. would require MGM's consent.

MGM's priority is to ensure that BetMGM continues to capture the growing U.S. online opportunity and realizing MGM's vision of becoming a premier global gaming entertainment company. MGM believes that having control of the BetMGM joint venture is an important step towards achieving its strategic objectives.

MGM will engage with Entain and DraftKings, as appropriate, to find a solution to the exclusivity arrangements which meets all parties' objectives.

PJT Partners is serving as an advisor to MGM Resorts.