All bets are off as DraftKings yanks bid for UK rival

US gambling giant DraftKings on Tuesday pulled out of a $22.5 billion takeover bid for British rival Entain, saying it was confident of going it alone in North America.

“After several discussions with Entain leadership, DraftKings has decided that it will not make a firm offer for Entain at this time,” DraftKings CEO Jason Robins said in a statement.

He said that DraftKings was “highly confident in our ability to maintain a leadership position and achieve our long-term growth plans in the rapidly growing North America market”.

Entain owns betting-shop chains Ladbrokes and Coral in Britain, as well as various gambling websites focused on football and horse racing.

DraftKings specialises in fantasy leagues betting, notably across the major US sports of American football, basketball, baseball and ice hockey.

Source: https://www.macaubusiness.com/all-bets-are-off-as-draftkings-yanks-bid-for-uk-rival/?__cf_chl_jschl_tk__=pmd_hWcO4fsa3jptJbwdHKezaVVMcAakPFcWeeevM0veg7o-1635310193-0-gqNtZGzNApCjcnBszQrl