London — Online gambling company Entain  has dismissed a £8.1bn bid from MGM Resorts International, in what would be the largest in a recent wave of trans-Atlantic betting mergers.

London-based Entain said the offer, which would give the Las Vegas casino operator broader access to fast-growing online betting markets, undervalues the company. Under the proposed terms, Entain investors would receive 0.6 of a share of MGM for every share they hold, according to a statement on Monday. MGM may also offer a “limited partial cash alternative” to the British company’s shareholders, who would own about 42% of the combined business...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now