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MGM Seeks Control of BetMGM After DraftKings Bid for Partner

  • CEO ‘needs’ majority control over its online betting startup
  • Casino chief says he’s not surprised by new Macau terms
Bill Hornbuckle
Bill HornbucklePhotographer: Gabe Ginsberg/Getty Images
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Bill Hornbuckle, chief executive officer of casino operator MGM Resorts International, sees a path for his company to take full control of its online-gambling startup in the wake of a $22.4 billion bid for joint-venture partner Entain Plc by DraftKings Inc.

If DraftKings reaches a deal to buy Entain, Hornbuckle said he’ll seek majority control of BetMGM and access to the technology that powers the business. Under the terms of their partnership, a new owner of Entain won’t be able to operate BetMGM in the U.S. without the approval of MGM, the largest operator of casinos on the Las Vegas Strip.