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Entain has seen its share price rise 4.8% today (8 April) on the back of rumours of private equity interest in its brands.

The Ladbrokes-Coral owner is currently in the process of evaluating whether to sell several of its sports betting and gaming brands, according to previous reports.

The Sunday Times reported private equity firms including Lottomatica-backer Apollo, and Tipico majority shareholder CVC Capital Partners, have expressed an interest in acquiring certain Entain assets.

It is unknown which particular businesses or brands the private equity firms are looking at.

Entain has reportedly engaged Moelis to conduct the review, which will present its findings to the operator’s newly formed Capital Allocation Committee.

Anonymous sources noted the wide-ranging nature of the business review, which includes brands previously integrated with Entain’s proprietary technology platform.

The company has already engaged Oakvale Capital to find a buyer for its PartyPoker brand, according to previous media reports.

Some have speculated the planned exit of chairman Barry Gibson in September may present an opportunity for interested parties.  

Gibson was reported to be among the individuals responsible for blocking previous acquisition attempts by both MGM Resorts and DraftKings.

Entain is also in the process of searching for a new CEO, following the departure of Jette Nygaard-Andersen in December.

Entain close to announcing CEO

Sunday Times sources suggest a new CEO could be announced any time in the coming days and weeks.

Nygaard-Andersen resigned following campaigning by activist investors.

Concerns included a flatlining share price, Entain faltering in its core markets, and an extensive M&A programme that delivered questionable returns.

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