Caesars Announces Tender for William Hill Assets in the UK and Europe

Caesars Entertainment announced that it would start a tender for the purchase of home assets in Europe and the UK. WIlliam Hill , which formally completed its takeover of a traditional bookmaker last month.

Reported in The telegraph The sale will include all of the 1,400 high street William Hill stores in the UK and Ireland, as well as its UK and European online divisions, which some analysts believe could bring Caesars around $ 1.5 billion. dollars

While stating its intention to dominate U.S. rates, the refinanced Caesars previously announced its intention to sell all of William Hill's assets outside the U.S. with completed its 2.9 billion pounds sterling, £ 2.72 for the acquisition of shares former FTSE 250 and LSE registered UK operator 23 April.

US Direct Investment Fund, Apollo Global Management h Previously, aving competed with Caesar's for the initial acquisition of the entire William Hill company.

If successful in taking over the remaining assets of William Hill in the UK and Europe, it 'would be expected' that Apollo would merge the UK bookmaker with its Italian subsidiary Gamenet, with a focus on the company's sports betting.

Apollo is confronted by the Shaked Israeli business family, the founding shareholders of online sports betting and the casino operator 888 Holdings.

Itai Pazner , CEO of 888 Holdings previously stated, “We've mentioned William Hill in the past, this might be what we're looking at. And I will not change my comment on this matter. "

888's interest is that the firm continues to make significant progress, mainly driven by online transactions in regulated markets during the pandemic, filing 56% revenue increases to 272.5 million in Q1 2021 .

Other potential applicants may include Fred Dawn , owner of the British retail giant. Betfred , which is reportedly primarily interested in integrating William Hill's extensive sportsbook network into its own business. If successful, this would amount to 44 PCs of the UK offline retail betting market.

Additionally, Swedish operator Relative also reportedly interested in incorporating the remaining William Hill divisions such as the popular online casino Mr Green , to your portfolio, which already includes 32 Red .

However, The Telegraph reported that Apollo presumably occupies a dominant position in the bidding, having gained access to William Hill's books during a takeover bid with Caesars.

William Hill's high-profile scraps prosecution comes amid the UK government's revision of the 2005 Gambling Act - a dynamic that is likely to affect William Hill's valuation of assets contingent on the final outcome of the proceedings.

The participants in the transactions expect trading to close by the summer, but the final acquisitions cannot be completed until the end of the trading year.