DraftKings Has Only One More Month To Bid For UK’s Entain

According to Reuters, DraftKings has another month to decide on a formal offer for Entain as the betting firms continue talks on the details of a possible deal.

On Tuesday, October 19, Entain stated it had sought the extension from the UK’s watchdog since the discussions were still ongoing. Talking points with DraftKings also included management composition and antitrust clearances, it added.

DraftKings put forward its US$22.4 billion buyout proposal last month after Entain rejected a bid roughly half the size from partner MGM earlier this year. DraftKings had until October 19 to make a firm offer for Entain or walk away.

According to Reuters, if DraftKings does make a formal offer for Entain by the new November 16 deadline, it could potentially kick off a US$22-billion-plus bid battle for the British gambling firm.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.