Ladbrokes owner Entain rejects £8bn MGM takeover bid

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    File-sharing giant WeTransfer in talks with banks about bumper float Last November, new boss Shay Segev laid out plans to transform the business by pulling out of some unregulated global markets and focusing on sports betting and gaming entertainment - areas that have increasingly prospered during lockdowns. Inthe company said it was shutting betting shops - having warned of closures as a result of a crackdown on fixed odds betting terminals FOBTS.

    Image: Entain owns the Coral betting shop chain More recently it has had thousands of staff on furlough under the government's coronavirus job retention scheme.

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    Entain issued a statement on MGM's offer on Monday after a report overnight from the Wall Street Journal about the proposal - which also said a previous attempt had been rebuffed. Noting the recent "press speculation", the company said it "confirms that it has received proposals from MGM Resorts International The US company, which runs the Bellagio casino and resort in Las Vegas, now has until 1 February to make a formal bid or walk away.

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