US sports betting giant DraftKings offers $20bn to buy Ladbrokes owner Entain

Entain’s shares surged 19% while the DraftKings stock fell by more than 6% on the back of the news

Entain – which owns the Ladbrokes and Coral bookmaker firms and online gambling and gaming sites likes PartyPoker, Gala Bingo, Foxy Bingo and Bwin – confirmed the approach from the US fantasy sports betting company. File picture

US sports betting giant DraftKings has made an offer to buy UK gambling group Entain for a reported $20bn (€17bn).

Entain – which owns the Ladbrokes and Coral bookmaker firms and online gambling and gaming sites likes PartyPoker, Gala Bingo, Foxy Bingo and Bwin – confirmed the approach from the US fantasy sports betting company.