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888 agrees to buy William Hill European service
9 September 2021
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888 Holdings has actually concurred to buy William Hill's European business from its US owner in a deal worth ₤ 2.2 bn.
The online gambling firm stated the bet9ja's welcome offer with casino giant Caesars Entertainment would include William Hill's 1,400 UK wagering shops.
888 primary executive Itai Panzer said the acquisition would "create among the world's leading online betting and video gaming groups".
the yohaig code deal is set to produce a combined group with more than 12,000 employees.
It will aim for savings of about ₤ 100m a year as an outcome of the purchase.
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888 said the yohaig code acquisition would give it "substantially improved exposure to sports wagering, the world's largest and fastest growing online segment, with the yohaig code addition of a renowned sports brand".
It also said William Hill's High Street presence was an essential aspect behind the relocation.
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Mr Panzer included: "Our techniques are also complementary, being digitally led, client focused, and dedicated to gamer defense and raising market requirements around much safer betting.
"We are also excited about the opportunities that the retail company provides and see significant brand name advantages."
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William Hill president Ulrik Bengtsson said: "The William Hill and 888 methods are extremely complementary with an outright concentrate on the product and customer experience.
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"Scale is significantly important in our sector and the mix of business will offer an effective alignment of brands and technology."
An auction for the non-US side of William Hill's business, which consists of online operations throughout the yohaig code UK and Europe, was started by Caesars Entertainment after it had actually acquired the betting giant in April for ₤ 2.9 bn.
The Caesars Palace casino owner only desired the yohaig code company's US operations and stated from the start that it intended to sell other parts of the business once the bet9ja's welcome offer had actually gone through, triggering a race to purchase.
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Tom Reeg, president of Caesars Entertainment, stated that he was "happy" the company had actually "discovered an owner for the William Hill business outside the US which shares the very same goals, methods and longer-term aspirations of that service".
US personal equity company Apollo was likewise in the running for the purchase of the European organization.
888's takeover is still based on investor approval, and it will also require to be provided 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 significant worth for shareholders, developing a combined organization with leading technology, products and brands across sports betting, gaming and poker, supported by top quality management talent from both companies."
Founded in 1934, the William Hill brand began when its creator established a postal and phone-based wagering company.
It opened its first wagering stores in the UK in the mid-1960s, quickly after their presence on High Streets was made legal.
Questions had actually been raised about the yohaig code worth of the brand name's bricks-and-mortar stores, which were mainly closed throughout the pandemic.
In August last year, the company stated it would not be reopening 119 of its betting shops after coronavirus lockdowns, stating it did not anticipate customers to return in the numbers seen before the pandemic.
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to close 119 wagering stores
5 August 2020
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888 Consents to Purchase William Hill European Business
miacatt7076822 edited this page 2025-10-19 10:33:02 +00:00