MGM Resorts International, a casino operator in the US, failed to acquire Entain, a British sports betting and gambling company, for $11bn. Under the terms of the proposal, Entain shareholders would own c. 41.5% of the enlarged MGMRI. MGMRI has indicated that a limited partial cash alternative would also be made available to Entain shareholders. After receiving an offer Entain has informed MGMRI that it believes that the proposal significantly undervalues the business and its prospects.