Ladbrokes Owner Entain Rejects MGM’s $11 Billion Takeover

Gambling company Entain Plc has dismissed an 8.1 billion-pound ($11.1 billion) takeover attempt from MGM Resorts International, saying the bid undervalues the operator that’s benefiting from a boom in online betting.

The latest offer, which would give the Las Vegas casino operator broader access to online sports betting markets, was made public by London-listed Entain in a statement Monday, and tops an earlier all-cash bid made late last year, people familiar with the matter had said.

Entain is behind an array of online gambling sites, including Ladbrokes Coral and Bwin, which have become increasingly attractive after the U.S. legalized ...