Business
Statement re DraftKings
Statement re DraftKings.
About this update from Entain Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3158Q\n Entain PLC\n 26 October 2021\n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \n \n \n \n \n \n \n \n 26 October 2021\n \n \n \n \n \n \n Response to DraftKings Inc. no intention to bid statement \n \n \n \n \n \n \n \n \n The Board of Entain plc (\"Entain\") notes the announcement made earlier today by DraftKings Inc. (\"DraftKings\") that it does not intend to make an offer for Entain. As a result of the announcement, DraftKings and its concert parties are bound by the restrictions contained in Rule 2.8 of the City Code on Takeovers and Mergers (subject to limited exceptions).\n \n \n \n \n \n The Board strongly believes in the future prospects of Entain, underpinned by its leading market positions, world class management team and industry-leading proprietary technology. Entain has an outstanding track record of growth having delivered 23 consecutive quarters of double digit online NGR growth, representing a 3 year CAGR of 19% across 2021.\n \n \n Entain's management remains focused on executing its growth and sustainability strategy and on delivering the opportunities laid out in Entain's capital markets event on 12 August to treble its total addressable market to c.$160bn (materials available at \n \n www.entaingroup.com\n \n ). These opportunities include: \n \n \n · \n Further growth in existing markets;\n \n \n · \n Leadership in the rapidly growing North American market through BetMGM; \n \n \n · \n Expanding into new regulated markets;\n \n \n · \n Extending into new interactive entertainment experiences such as in the emerging esports wagering market; and \n \n \n · \n Leveraging powerful flywheel effects to grow customer acquisition rates, increase customer loyalty and reduce acquisition costs. \n \n \n As a result the Board is confident in Entain's ability to continue to deliver material value for its shareholders going forward. \n \n \n \n \n \n Contact Details: \n \n \n Entain plc\n \n \n David Lloyd-Seed, Group Director of Investor Relations & Corporate Communications\nTel: +44 (0) 203 938 0000\[email protected]\n...