The online gambling operator 888 has just finalised its procurement of all non-US William Hill assets from gambling operator Caesars. The deal went for £1.95bn (€2.25bn/$2.35bn) after 888 initially agreed to the deal in September of 2021. This came after the announcement that Caesars, a US operator, took over the whole William Hill company for an estimated £2.90bn. The operators had announced their intentions to discard all non-US William Hill assets.
Although the deal received shareholder approval last month, the deal was closed on the 1st July 2022. The chair of 888, Itai Pazner, said: “I am delighted to announce the completion of our transformational combination with William Hill,
“We have built an outstanding leadership team, combining strengths from across both businesses, and as I look at the future, the combination of our product and content leadership, powered by our proprietary technology, and our world class brands, gives us a powerful platform for growth.”
It has been noted that the two businesses combined will serve as one of the largest online gambling operators in the world. The new operator group will have a collective revenue of $2.68bn (£2.13bn/€2.53bn) in 2021. 888 chair Lord Mendehlson stated: “This combination brings together two high quality businesses to create a powerful, global betting and gaming business,
“We believe the acquisition will create significant value for shareholders, creating a combined business with leading technology, products and brands across sports betting and gaming. With a top quality management team, formed from talent from across both businesses, I am confident about our future plans.”
