Las Vegas-based firm decides not to up offer after its £8.1bn bid for Entain was rejected earlier this month
The Las Vegas casino operator MGM Resorts will not pursue a takeover of the UK gambling company Entain, which owns brands such as Ladbrokes and Coral, after having an initial £8.1bn offer knocked back earlier this month.
MGM had until 1 February to make a firm bid under UK takeover rules, after it emerged that the casino business had made a proposal to buy Entain, with which it already operates a US joint-venture called BetMGM.