A cash option may also be available for Entain shareholders who do not wish to receive share compensation. MGM’s largest shareholder, InterActive Corporation (IAC) has said it may help fund this. Regions: Europe US MGM confirms Entain merger proposal but “no certainty” of firm offer After Entain informed MGM that it believed the bid “significantly undervalues” the online operator, MGM also laid out why it believed the deal would be a good decision for Entain. As announced by Entain earlier today, MGM Resorts put forward a proposal to acquire the operator 0.6 MGM shares for each Entain share. This would value the Ladbrokes and PartyGaming operator at approximately $11.00bn (£8.11bn/€8.97bn). 4th January 2021 | By Daniel O’Boyle Email Address Land-based giant MGM Resorts International has confirmed that it has put forward an offer to acquire igaming operator Entain, formerly known as GVC Holdings, but said it could not yet confirm that it will make a firm bid. MGM must make a firm bid, or announce that it does not intend to do so, by 1 February. The land-based operator said that there is currently “no certainty” that a firm offer has been placed. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter MGM’s resources would also help make the business a leader in both online and land-based channels across the globe, the operator added, as well as diversifying the business’s offering and positioning the combined group for future growth. It said it would allow the combined business to fully leverage the growing US market through full control of the operators’ BetMGM joint venture. Entain rebranded from GVC in December under new chief executive Shay Segev. It said the new name better reflected its new strategy, which will see a greater focus on regulated markets and sustainability. Tags: Entain MGM Topics: Casino & games Sports betting Strategy Land-based casino Online casino M&A M&A Subscribe to the iGaming newsletter Under this deal, Entain shareholders would then own a combined 41.5% of MGM.