Entain PLC Response to MGM Resorts no intention to bid (2051M)
20 January 2021 - 12:42AM
UK Regulatory
TIDMENT TIDMMGM
RNS Number : 2051M
Entain PLC
19 January 2021
FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION
19 January 2021
Response to MGM Resorts International no intention to bid
statement
The Board of Entain plc ("Entain") notes the announcement made
earlier today by MGM Resorts International ("MGMRI") that it does
not intend to make an offer for Entain. As a result of the
announcement, MGMRI and its concert parties are bound by the
restrictions contained in Rule 2.8 of the City Code on Takeovers
and Mergers.
Entain has a clear growth and sustainability strategy, backed by
leading technology, that it is confident will deliver significant
value for stakeholders. We look forward to continuing to work
closely with MGMRI to drive further success in the US through the
BetMGM joint venture.
Entain will announce a Q4 Trading Update on 21 January 2021.
Contact details:
Entain plc
David Lloyd-Seed, Director of Investor Relations & External
Communications
Tel: +44 (0) 203 938 0000
investors@entaingroup.com
Deutsche Bank (Financial Adviser and Joint Corporate Broker to
Entain)
James Arculus
James Ibbotson
Charles Wilkinson
Tel: +44 (0) 20 7545 8000
Morgan Stanley (Financial Adviser and Joint Corporate Broker to
Entain)
Laurence Hopkins
Tom Perry
Richard Brown
Tel: +44 (0) 20 7425 8000
Powerscourt
Rory Godson / Rob Greening
Tel: +44 (0) 20 7250 1446
entain@powerscourt-group.com
LEI: 213800GNI3K45LQR8L28
About Entain plc
Entain plc (LSE: Entain) is a FTSE100 company and is one of the
world's largest sports-betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports Brands include bwin, Coral,
Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands
include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker
and PartyCasino. The Group owns proprietary technology across all
of its core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis. The Group has also entered into a joint-venture with MGMRI
to capitalise on the sports-betting and gaming opportunity in the
US. The Group is tax resident in the UK with licenses in more than
20 countries, across five continents.
For more information see the Group's website:
www.entaingroup.com
Important notices
Deutsche Bank is authorised and regulated by the European
Central Bank and the German Federal Financial Supervisory Authority
(BaFin). With respect to activities undertaken in the UK, Deutsche
Bank is authorised by the Prudential Regulation Authority with
deemed variation of permission. It is subject to regulation by the
Financial Conduct Authority and limited regulation by the
Prudential Regulation Authority. The nature and extent of client
protections may differ from those for firms based in the UK.
Details about the Temporary Permissions Regime, which allows
EEA-based firms to operate in the UK for a limited period while
seeking full authorisation, are available on the Financial Conduct
Authority's website. Neither Deutsche Bank nor any of its
subsidiaries, branches or affiliates will be responsible to any
person other than Entain for providing any of the protections
afforded to clients of Deutsche Bank nor for providing advice in
relation to any matters referred to in this announcement. Neither
Deutsche Bank nor any of its subsidiaries, branches or affiliates
owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Deutsche
Bank in connection with this announcement, any statement contained
herein, or otherwise. Deutsche Bank, acting through its London
branch, is acting as financial adviser and joint corporate broker
to Entain and no other person in connection with the contents of
this announcement.
Morgan Stanley & Co. International plc ("Morgan Stanley")
which is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the UK is acting as financial adviser and
joint corporate broker exclusively for Entain and no one else in
connection with the matters set out in this announcement. In
connection with such matters, Morgan Stanley, its affiliates and
their respective directors, officers, employees and agents will not
regard any other person as their client, nor will they be
responsible to any other person for providing the protections
afforded to their clients or for providing advice in relation to
the contents of this announcement or any other matter referred to
herein.
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END
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