Response to MGM Resorts no intention to bid
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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