(Reuters) – Shares of Entain plc tumbled up to 13% on Thursday after the U.S-based MGM Resorts International said it had “moved on” from pursuing an offer for the British gambling firm.
MGM Chief Executive William Hornbuckle said in a post-earnings call on Wednesday that although it remained focused on online sportsbook BetMGM – a joint venture with Entain – it saw great potential in the expansion of Swedish online gaming company LeoVegas, which it bought last year.
Entain’s shares fell as much as 13% to an over one-month low of 1365.5 pence in morning trade.
(Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D’Souza)
