Day: 20 October 2021

Entain Extends the Formal Acquisition Offer Deadline for DraftKings but Requires Clarification on Definitive Issues

Wed 20 Oct 2021 10.12 Olivia Cole
Entain Extends the Formal Acquisition Offer Deadline for DraftKings but Requires Clarification on Definitive Issues

The British gambling and sports betting giant Entain plc, formerly known as GVC Holdings, has extended the deadline for a formal acquisition offer to DraftKings, as the gambling group’s investors call for the US suitor to put definitive terms on its £16.4- billion ($22.4-billion) takeover bid. In an official statement dated October 19th, the company revealed that negotiations with DraftKings are still ongoing, although it required a number of issues that were described by Entain as “fundamental” to be resolved by no later than 5:00 PM on the same day.…

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New Gambling Legislation Set to Suspend Free Bets in Ireland, Gambling Regulator to Be Established in 2022

Wed 20 Oct 2021 5.59 Daniel Williams
New Gambling Legislation Set to Suspend Free Bets in Ireland, Gambling Regulator to Be Established in 2022

The Irish Government will see free bets banned in the country as part of landmark new gambling laws that were brought to the Cabinet on October 19th, while a new gambling watchdog is set to be established early in 2022. The new gambling regulatory body will also receive powers to suspend or revoke gambling operating licences. The watchdog will also be able to freeze accounts, as well as block incoming payments to gambling providers. As part of the new gambling legislation, a social impact fund is set to be created…

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