down cross right results icon premium content video video hollow icon audio lifeNews icon-comment tick starFilled betSlip hot icon-liveCommentary refresh spinner arrow-down

Caesars Entertainment completes £2.9 billion takeover of William Hill

Caesars will sell off William Hill's operations outside the US
1 of 1

William Hill's £2.9 billion takeover by Caesars Entertainment was completed on Thursday, with the casino giant reiterating its intention to sell the bookmaker's businesses outside the US.

Caesars said the acquisition gave it "ownership of one of the world's leading betting and gambling companies and gives the company the ability to maximise the opportunity within sports betting and online gaming in the US".

"We are thrilled to complete the acquisition of William Hill, combining two of the premier operations in the sports betting and iGaming industries under one roof," Caesars' chief executive Tom Reeg added.

As a growing number of US states legalise sports betting, William Hill's rival Entain this week said it expected the value of the total betting and gaming market in the US and Canada to reach $32bn (approx £23bn).

Following the takeover of William Hill, Caesars expects to be operational in 20 US jurisdictions by the end of the year.

However, the company said on Thursday: "As previously disclosed, Caesars intends to sell the non-US businesses currently owned by William Hill, including the UK and international online divisions and the retail betting shops."

Private equity group Apollo Global Management, which was the main competitor to Caesars for William Hill, is understood to be among the front-runners to buy the bookmaker's operations outside the US, while online operator 888 have also voiced an interest in bidding for the business.

Betfred are expected to be a potential buyer for William Hill's chain of betting shops should they come on to the market.


Read more on this subject:

Court clears William Hill's £2.9 billion takeover by US casino giant Caesars

William Hill await judgement before Caesars takeover deal can be completed

William Hill shareholders approve £2.9 billion takeover by casino giant Caesars


Download the free Racing Post app for cards, form, tips, in-app betting and to watch live races. Download for free at racingpost.com/mobile or search Racing Post app

 

We are thrilled to complete the acquisition of William Hill, combining two of the premier operations in the sports betting and iGaming industries
Bookmaker
Price
E.W. Terms
Sporting
BetVictor
Boylesport
888sport