MGM Resorts has made a play to become one of the largest online gaming operators in the world with an $11 billion bid for Entain (formerly GVC Holdings).

MGM Resorts has made a bid for Entain in an effort to keep pace with the industry’s leading betting and gaming operators. (Image: KXNT Radio/Getty Images)

The Wall Street Journal broke the story and, on January 4, Entain issued a statement via the London Stock Exchange.

The press release confirmed that MGM Resorts had made an informal offer of 1,383p per share plus a 22% premium. That equates to a total bid of £8.1 billion/$11 billion, but that won’t be enough to get a deal done.