Ladbrokes owner Entain confirmed on Tuesday that it has received a takeover proposal from DraftKings, the consideration for which would include a combination of stock and cash.
Responding to press speculation, the company said there can be no certainty that any offer will be made nor as to the terms on which any such offer may be made.
“A further announcement will be made as and when appropriate,” Entain said. It urged shareholders to take no action at this time.
The statement followed a report by CNBC suggesting that DraftKings was making a $20bn offer for the online sports betting company.
Earlier this year, Entain rejected an all-share offer from MGM Resorts worth $11bn, arguing that it significantly undervalued the company.
At 1530 BST, Entain shares were up 16% at 2,227p.
