DraftKings (DKNG) made a $20B cash and stock offer for Entain - CNBC

September 21, 2021 9:29 AM EDT

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DraftKings (NASDAQ: DKNG) made a $20 billion cash and stock offer for Europe sports betting operator Entain PLC, CNBC David Faber reported citing sources.

  • the offer is mostly stock, with the cash component maybe as high as 30%.
  • the offer was made two or three days ago.
  • the offer is said to be serious but Entain may be questioning the stock component.
  • CNBC's Jim Cramer called it a 'land grab' and said the sports betting sector needs consolidation.

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