Any potential acquirers know this is a rare opportunity to pick...

Any potential acquirers know this is a rare opportunity to pick up US market share at a competitive price. If they pass then one of the competitors will snap it up. They can't get their dominant market position through just organic growth, there has to be M&A, all the executives know this. That alone is a big tick for this US sale. Do they really care if its a loss making business? Who isn't burning cash? Its just a land grab and this is a opportunistic time to be buying.

Moelis has successfully executed a number of deals in the US online gaming space over the past few years.

What will happen in the event a sale gets announced which beats market expectations? How big will the squeeze be? If you are still shorting, hats off to you. Maybe it will be pants off when a sale gets announced.