Omar Marques | LightRocket | Getty Images
DraftKings is making a $20 billion offer to acquire U.K. online sports betting company Entain, people familiar with the matter told CNBC’s David Faber on Tuesday.
The offer is largely in DraftKings stock, along with cash, according to the sources.
The U.K. gaming company rejected an all-stock offer from MGM Resorts earlier this year worth $11 billion at the time. Entain said the deal significantly undervalued the company.
MGM and Entain maintain an online sports betting partnership in the U.S. called BetMGM.
Entain has not returned CNBC’s request for comment.
Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now
