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 deal to take control of UK betting company William Hill.

The boards of the US company and William Hill concurred a cash deal of 272p a share topic to shareholders voting in favour.

US private equity firm Apollo had likewise made a quote to take over William Hill.

But Caesars said that if the UK business selected Apollo, it would jeopardise a joint venture in between them.

Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus

Caesars owns a 20% stake in William Hill's US operations, which likewise have unique rights to operate sports betting under the Caesars brand.

The US company, which owns Caesar's Palace in Las Vegas, is particularly interested in William Hill's US bookmaking organization which currently has 170 retail sites in 13 different states.

In August William Hill stated it would not be reopening 119 of its UK High Street wagering stores after the coronavirus shutdown, stating it did not expect consumers to return in the numbers seen before the pandemic.

William Hill stated its directors would "all and unconditionally" advise that shareholders accept the deal.

the yohaig code Caesars Palace owner plans to find other owners for William Hill's non-US companies, including its more than 1,400 UK wagering stores.

It stated it would integrate the US business into Caesars with very little job cuts.

The agreement comes soon after William Hill stated it was inclined to suggest Caesars' bet9ja's welcome offer.

Roger Devlin, chairman of William Hill, stated: "The William Hill board believes this promotion code is the best alternative for William Hill at an attractive price for shareholders."

Caesars president Tom Reeg said: "The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a really exciting prospect."