William Hill Agrees ₤ 2.9 Bn Takeover
William Hill agrees ₤ 2.9 bn takeover by Caesars Palace owner
Caesars Entertainment, the Las Vegas casino-owner, has struck a ₤ 2.9 bn offer to take control of UK wagering company William Hill.
The boards of the US company and William Hill agreed a cash deal of 272p a share topic to investors enacting favour.
US private equity firm Apollo had also made a quote to take control of William Hill.
But Caesars stated that if the UK company picked Apollo, it would jeopardise a joint venture in between them.
Caesars owns a 20% stake in William Hill’s US operations, which likewise have exclusive rights to operate sports wagering under the Caesars brand name.
The US company, which owns Caesar’s Palace in Las Vegas, is particularly thinking about William Hill’s US bookmaking business which currently has 170 retail sites in 13 various states.
In August William Hill stated it would not be reopening 119 of its UK High Street wagering shops after the coronavirus shutdown, saying it did not expect clients to return in the numbers seen before the pandemic.
William Hill stated its directors would “unanimously and unconditionally” advise that shareholders accept the bet9ja’s welcome offer.
The Caesars Palace owner intends to discover other owners for William Hill’s non-US services, including its more than 1,400 UK betting stores.
It stated it would incorporate the US company into Caesars with very little task cuts.
The comes not long after William Hill stated it was inclined to advise Caesars’ deal.
Roger Devlin, chairman of William Hill, stated: “The William Hill board believes this promotion code is the finest choice for William Hill at an attractive price for investors.”
Caesars president Tom Reeg stated: “The chance to combine our land based-casinos, sports betting and online video gaming in the US is a really amazing possibility.”
Caesars Palace-owner tables ₤ 2.9 bn William Hill bid
28 September 2020
Takeover fight looms for bookmaker William Hill
25 September 2020








