Caesars to Complete Acquisition of William Hill by April 1st

Hospitality and Gambling Giant Caesars Looks to Complete Acquisition of Sportsbook and Casino OperatorWilliam Hill by April 1st. The parties are now awaiting confirmation that all necessary regulatory approvals have been obtained.

In September 2020, Caesars submitted a £2.9bn (€3.39bn/$4.03bn) bid to acquire of all issued and outstanding share capital of William Hill.

The agreement, which was approved by William Hill bosses last November, provides for the purchase by the securities operator of the British brand in the amount of 1.08 billion pounds (£2.72 per share). At the same time, Caesars management said it plans to keep the American betting division of William Hill. The rest of the business is to be sold.

Previously, there was information in the media about the completion of this transaction in the second quarter of 2021. On March 10, the British brand confirmed that all stages of the negotiations were proceeding according to plan.

Pending receipt of all permits, the parties have scheduled a court hearing at which the court will be asked to authorize the acquisition. The hearing will take place on March 30th.

If the contract is approved and Caesars and William Hill meet all other necessary requirements, the acquisition will close on April 1st. The shares of the bookmaker operator and the casino will be canceled on April 6 in accordance with the terms of the deal.

It is important to note that Apollo Global was interested in buying William Hill and put forward its offer. However, the British company's board of directors unanimously abandoned the project.

Eldorado Resorts has previously completed its $17.3 billion acquisition and subsequent merger with Caesars Entertainment Corporation, bringing the operator's 55 casinos under the control of the new owner .

Recall, Sandssells its Las Vegas business for $6.25 billion

Richard "Boz" Bosworth is the main partner and CEO of the young company JC Hospitality, LLC ...
There are no reviews yet. Help other users with a choice - be the first to share your opinion about this review and get a unique bonus.
To add a comment, please log in: