Apollo Out Of William Hill Bid
Apollo Global Management, who have been busy doing deals with Sazka Group worth €500 million towards investment and also the acquisition of the Great Canadian Gaming Corp worth more than $2.5 billion have come out and officially said they are not going to make any firm bid for William Hill.
The private equity firm was in the running to acquire William Hill before Caesars said that if they were not the winning bidder it would terminate the two companies have in the US for sportsbetting.
That move by Caesars led the way clear for them to be formally accepted by the William Hill board on the offer, however Apollo never said they were not going to make a bid until today.
But on the announcement that Apollo are not going to bid for the entirety of William Hill it did make it clear that it could possibly go for any William Hill assets that Caesars may want to sell.
Caesars have made it clear that it wants to concentrate on the US market with William Hill and will almost certainly sell all other assets based in the UK and Europe which could include its own casino operations.
