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Entain Plc (OTCPK:GMVHF) ADRs rose 5% amid a report of private equity interest in the sports betting company.
Private equity firms, including Apollo Global (APO), are said to be circling the bookmaker, according to a Times report on Saturday. The impending departure of Chairman Barry Gibson may leave Entain vulnerable to buyout firms.
There’s speculation that a number of PE firms are interested in Entain’s brands, including CVC Capital, the former owner of Sky Bey, according to the report.
Sources close to Entain (OTCPK:GMVHF) told the publication that the fate of “a whole range of assets” is under review.
