888 Clear Final Hurdles In William Hill Acquisition

Online gambling company 888 Holdings has given an update on their acquisition of UK bookmaker William Hill stating that all mandatory antitrust and pre-completion gaming regulatory clearances have now been completed clearing the way for the completion of the deal worth £2.2 billion, 888 said that they were raising a total of £500 million by issuing new equity via a capital raise to help with the acquisition.

Itai Pazner, chief executive of 888, said: “This transaction will create one of the world’s leading online betting and gaming groups with superior scale, leading technology, increased diversification, and a platform for strong growth, supported by a portfolio of iconic brands.

“I’m delighted that we have now checked off a number of important milestones towards completion of the acquisition.

“Given the strong progress we have made, we now expect the transaction to complete in the first quarter of 2022 and are excited about the opportunities ahead of us as we combine two powerful and complementary businesses.”