bet9ja.com
888 consents to purchase William Hill European organization

9 September 2021

888 Holdings has actually accepted purchase William Hill's European business from its US owner in an bet9ja's welcome offer worth ₤ 2.2 bn.

The online gambling company said the handle gambling establishment huge Caesars Entertainment would include William Hill's 1,400 UK wagering stores.

888 chief executive Itai Panzer said the acquisition would "produce one of the world's leading online betting and video gaming groups".
bit.ly
The deal is set to produce a combined group with more than 12,000 workers.

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

888 stated the acquisition would bet9ja's welcome offer it "substantially improved direct exposure to sports wagering, the world's biggest and fastest growing online section, with the addition of a renowned sports brand name".
bet9ja.com
It also stated William Hill's High was an important aspect behind the relocation.

Mr Panzer included: "Our methods are also complementary, being digitally led, client focused, and dedicated to gamer security and raising market requirements around more secure betting.
bet9ja.com
"We are likewise thrilled about the chances that the retail organization provides and see substantial brand advantages."

William Hill chief executive Ulrik Bengtsson said: "the yohaig code William Hill and 888 methods are extremely complementary with an absolute focus on the item and customer experience.

"Scale is increasingly important in our sector and the mix of the businesses will supply a powerful positioning of brands and technology."

An auction for the non-US side of William Hill's company, that includes online operations throughout the UK and Europe, was initiated by Caesars Entertainment after it had actually acquired the gambling giant in April for ₤ 2.9 bn.
bet9ja.com
The Caesars Palace casino owner just desired the firm's US operations and stated from the outset that it intended to bet9ja's welcome offer other parts of the service once the bet9ja's welcome offer had gone through, stimulating a race to purchase.

Tom Reeg, president of Caesars Entertainment, stated that he was "happy" the company had "found an owner for the William Hill organization outside the US which shares the exact same goals, techniques and longer-term aspirations of that organization".

US private equity company Apollo was also in the running for the purchase of the European business.
bet9ja.com
888's takeover is still subject to investor approval, and it will also require to be provided the go-ahead by the Financial Conduct Authority.

Lord Jon Mendelsohn, chair of 888, stated: "We believe the acquisition will develop substantial value for shareholders, producing a combined organization with leading innovation, products and brands across sports wagering, video gaming and poker, supported by top-notch management skill from both services."
bet9ja.com
Founded in 1934, the William Hill brand started out when its founder established a postal and phone-based betting organization.
bit.ly
It opened its first wagering shops in the UK in the mid-1960s, soon after their presence on High Streets was made legal.

Questions had been raised about the value of the brand's bricks-and-mortar shops, which were largely closed during the pandemic.
bet9ja.com
In August in 2015, the company said it would not be reopening 119 of its wagering shops after coronavirus lockdowns, stating it did not anticipate clients to return in the numbers seen before the yohaig code pandemic.

William Hill to close 119 wagering shops

5 August 2020