Las Vegas-based firm decides not to up offer after its £8.1bn bid for Entain was rejected earlier this month

The Las Vegas casino operator MGM Resorts will not pursue a bid for the UK gambling company Entain, which owns brands such as Ladbrokes and Coral, after having an £8.1bn offer knocked back earlier this month.

MGM had until 1 February to make a firm offer under UK takeover rules, after it emerged that the casino business had made a bid to buy Entain, with which it already operates a US joint venture called BetMGM.

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