888 consents to purchase William Hill European business
bit.ly
9 September 2021
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888 Holdings has agreed to purchase William Hill's European business from its US owner in an offer worth ₤ 2.2 bn.
bit.ly
The online gaming company stated the yohaig code offer with casino huge Caesars Entertainment would include William Hill's 1,400 UK wagering stores.
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888 president Itai Panzer said the acquisition would "develop among the world's leading online wagering and video gaming groups".

The offer is set to produce a combined group with more than 12,000 workers.

It will intend for savings of about ₤ 100m a year as a result of the purchase.

888 stated the acquisition would give it "considerably enhanced direct exposure to sports betting, the world's largest and fastest growing online section, with the addition of an iconic sports brand".

It also said William Hill's High Street presence was an important element behind the yohaig code relocation.

Mr Panzer included: "Our methods are likewise complementary, being digitally led, consumer focused, and devoted to player security and raising market requirements around safer gaming.
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"We are also delighted about the chances that the supplies and see substantial brand name advantages."

William Hill chief executive Ulrik Bengtsson said: "The William Hill and 888 strategies are extremely complementary with an outright concentrate on the product and consumer experience.

"Scale is increasingly crucial in our sector and the combination of the companies will offer a powerful positioning of brand names and technology."
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An auction for the non-US side of William Hill's service, which includes online operations throughout the UK and Europe, was started by Caesars Entertainment after it had actually gotten the betting giant in April for ₤ 2.9 bn.

The Caesars Palace casino owner only wanted the company's US operations and stated from the outset that it planned to offer other parts of business once the deal had actually gone through, sparking a race to purchase.

Tom Reeg, president of Caesars Entertainment, said that he was "pleased" the company had "discovered an owner for the William Hill company outside the US which shares the same objectives, methods and longer-term aspirations of that organization".

US private equity firm Apollo was likewise in the running for the purchase of the European organization.

888's takeover is still subject to investor approval, and it will likewise need to be given the go-ahead by the Financial Conduct Authority.
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Lord Jon Mendelsohn, chair of 888, stated: "Our company believe the acquisition will develop considerable value for investors, producing a combined organization with leading innovation, items and brands across sports wagering, gaming and poker, supported by top quality management skill from both organizations."

Founded in 1934, the William Hill brand began when its creator established a postal and phone-based betting service.
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It opened its first betting shops in the UK in the mid-1960s, quickly after their existence on High Streets was made legal.

Questions had actually been raised about the value of the brand's bricks-and-mortar shops, which were mostly closed during the pandemic.

In August last year, the company stated it would not be reopening 119 of its betting shops after coronavirus lockdowns, saying it did not expect clients to return in the numbers seen before the pandemic.
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William Hill to close 119 wagering shops

5 August 2020
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