DraftKings Gets More Time to Pursue $22.5 Billion Entain Takeover

DraftKings has received an extension to continue pursuing its roughly $22.5 billion takeover of Entain, the London-listed gambling group that owns half of the BetMGM joint venture with MGM Resorts International. The extension gives the two sides additional time to work toward terms rather than forcing the approach to lapse under UK takeover rules.

A completed deal would reshape the U.S. sports betting landscape. Entain's stake in BetMGM sits directly alongside MGM's, meaning any change of control raises questions about the structure and future of the joint venture that MGM has used as its primary digital gaming vehicle.

Separately, DraftKings is positioned for an estimated $57 million in NFL prediction market exchange fees this season, an emerging revenue line as sportsbooks and exchanges compete for the same wagering dollars. No agreement on the Entain transaction has been announced, and the extension does not guarantee an offer will be made.