Ladbrokes owner focuses on acquiring, not being acquired

 "We have our own strategy, we're growing tremendously well", CFO Rob Wood said. 
 Ladbrokes owner Entain has set its sights on being an acquirer after being spurned by former bider MGM, hoping to find growth in new markets as affordability measures eat into UK revenue. 

The betting operator was seen as an acquisition target for much of 2021 and 2022, with Bellagio owner MGM - which runs a joint venture with Entain focused on the growing US online gambling market - bidding 8.9 billion poundsn in 2021, which Entain's board turned down. Draftkings, an American business focused on online betting, later submitted a $24 billion bid, which collapsed partly due to uncertainties around what would happen to the joint venture. 

Rumours of a potential MGM bid persisted, with reports earlier this year that the casino giant was waiting until the UK Government publishes a long-delayed white paper on gambling reform. 

However, last month, Entain's shares plummented when MGM CEO Bill Hornbuckle revealed that his business was no longer interested in buying the Ladbrokes owner. 

CFO Rob Wood told the Stardard that whether Entain is an acquisition target doesn't change anything about how it does business. 
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