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Shareholders at 888 Holdings have overwhelmingly voted in favour of the company\u2019s intentions to acquire William Hill\u2019s non-US portfolio. Caesar\u2019s Entertainment, who currently own William Hill\u2019s full suite of assets, have been anxious to offload it\u2019s UK and European business since their colossal \u00a32.9bn takeover of the operator back in 2020.<\/p>\n
888 have announced that the deal should reach completion by the end of June, which should align with the timing of their permission to trade as a premium listing on the London Stock Exchange. This approval is currently pending, with the FCA (Financial Conduct Authority) expected to declare their decision imminently.<\/p>\n
The organization\u2019s non-executive Chairman, Lord Mendelsohn, welcomed the news, suggesting that the merger represented a major step forward for the gambling giant. He said, \u2018\u2019we look forward to completing this transformational acquisition at the end of June, creating a global online betting and gaming leader through the combination of two highly complementary businesses and two of the industry\u2019s leading brands\u2019\u2019.<\/p>\n
The Gibraltar-based operator is certainly optimistic about its future success. It\u2019s recently undertaken a rapid expansion plan, targeting the UK as a key market in its business roadmap. Furthermore, the firm projected that if the William Hill acquisition had been secured before the commencement of 2021, last year\u2019s gross gaming revenue figure would have eclipsed $2bn, with an EBITDA of $437m.<\/p>\n
This has been a protracted deal, with Caesar\u2019s initially accepting 888\u2019s proposal a full eight months ago. Key changes were made on the detail of the deal last month in respect of new regulatory guidance; this resulted in all parties agreeing a \u00a3250m reduction in the sale price.<\/p>\n
Should 888 Holdings get this one across the line, which is looking increasingly likely, they will assume control of all William Hill\u2019s UK and European online and retail interests.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shareholders at 888 Holdings have overwhelmingly voted in favour of the company\u2019s intentions to acquire William Hill\u2019s non-US portfolio. Caesar\u2019s Entertainment, who currently own William Hill\u2019s full suite of assets, have been anxious to offload it\u2019s UK and European business since their colossal \u00a32.9bn takeover of the operator back in 2020. 888 have announced that […]<\/p>\n","protected":false},"author":4,"featured_media":29644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,11,3,8],"tags":[],"class_list":["post-49632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-headlines","category-igaming","category-latest"],"yoast_head":"\n