Ladbrokes owner’s shares leap after it rejects £8bn MGM bid

Entain target of US casino partner seeking to expand online operations

The gambling company behind Ladbrokes and Coral has rebuffed an £8bn takeover proposal from its US partner, MGM Resorts, as the arrival of legal sports betting in America continues to fuels transatlantic dealmaking.

Entain said the offer from MGM, the owner of the Bellagio casino in Las Vegas, significantly undervalued the company and its prospects.

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