Is MGM Resorts the Big Winner If DraftKings Buys Entain?

DraftKings (NASDAQ: DKNG) has until Oct. 19 to decide whether it will formalize its offer for Entain (LSE: ENT), the British bookmaker the sportsbook is trying to acquire for $22.4 billion. The opportunity for DraftKings to expand into international markets using Entain's market-leading technology may be worth it, even though the purchase price exceeds the sportsbook's own market valuation. MGM tried to buy Entain in January for $11.1 billion, but the offer was immediately rejected by the British bookmaker for being too low.