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888 buys william hill
888 buys william hill









888 buys william hill 888 buys william hill

In January this year US firm MGM Resorts backed out of a potential £8 billion bid for Entain, which owns Ladbrokes and Coral.Īfter the deal fell through MGM was banned from making another approach to the company for six months. The purchase of William Hill was part of a series of attempted takeovers of the UK’s gambling industry by US rivals. On Thursday morning, 888 Holdings confirmed it has agreed to purchase William Hill’s non-US assets from US casino giant Caesars Entertainment Inc. Caesars already owns a 20 stake in William Hill’s US operations through a joint venture it formed with the UK bookmaker in 2018. Shares in 888, which is included in the FTSE 250, had risen by 0.5% shortly after the announcement was made on Tuesday. One of the most established bookmakers in the world, William Hill International had itself been bought by Caesars Entertainment in 2020 in a move that was all. William Hill itself is set to be acquired by US casino giant Caesars Entertainment Inc.

888 buys william hill

Last week Bloomberg reported that private equity firm CVC Capital Partners had dropped out of the race to buy the unit, leaving 888 and Apollo Global Management, another private equity player.Īpollo had been in the running to buy the whole of William Hill earlier, but was beaten by Caesars. The move could bring William Hill back into UK hands just four months after Caesars bought it from the London Stock Exchange for £2.9 billion in April.īut 888 could yet put William Hill’s 1,400 betting shops up for sale to a new owner, keeping just the online part of the business.Ĭaesars had made it clear from the beginning that it was not interested in William Hill’s business outside the US and planned to find a buyer. Sept 9 (Reuters) - 888 (888.L) will buy William Hill's business outside the United States from casino group Caesars (CZR.O) for 2.2 billion pounds (3 billion), making a foray on to.











888 buys william hill