\u201cWe are delighted with the support of our shareholders for our proposed acquisition of William Hill and would like to thank them for their continued, constructive engagement as part of this process,\u201d<\/p>\n
\u201cWe 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.\u201d<\/p><\/blockquote>\n
It will make 888 a much bigger player in the UK market, where they already enjoy success in the online space but will now be able to add one of the best known brands in the country to their roster.<\/p>\n
Not only that, but it will give them a huge chunk of the high street market as well, having had absolutely zero experience operating physical betting shops before.<\/p>\n
So new and exciting territory for 888 on both fronts.<\/p>\n
Discount<\/h3>\n <\/p>\n
We said there had been a change since the original deal was struck, and here it is.<\/p>\n
Caesars Entertainment have agreed to a fairly hefty price cut to reflect the change in the value of the company, in monetary terms anyway.<\/p>\n
They have dropped the price by \u00a3250 million, which equates to around a 11.3% discount from the original \u00a32.2 billion price tag.<\/p>\n
This is because of the change in macro-economic and regulatory circumstances, which essentially means the brand is going to find it harder to make as much money as originally thought when pen was first put to paper. Therefore, the company is worth a little less in terms of expected future earnings.<\/p>\n
Both sides should still be happy though; 888 are unlikely to complain about saving \u00a3250 million quid for what is essentially the same company, and Caesars only spent \u00a32.9 billion in the first place, so they are getting almost 70% of their initial spend back.<\/p>\n","protected":false},"excerpt":{"rendered":"
It was last September that 888 emerged as the winners in a bidding war for William Hill‘s European and UK assets. The company had been acquired by Caesars Entertainment in April of 2021, but they made no secret of their intentions. They had no use for William Hill’s fleet of UK high street shops or…<\/p>\n","protected":false},"author":3,"featured_media":3342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[93,143,22],"acf":[],"yoast_head":"\n
June Set for 888's William Hill Acquisition - NewBettingSites.co<\/title>\n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n\t \n\t \n\t \n