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 offer to take over UK betting firm William Hill.

The boards of the US company and William Hill concurred a cash bet9ja's welcome offer of 272p a share topic to investors enacting favour.

US personal equity company Apollo had also made a bid to take control of William Hill.

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But Caesars stated that if the UK company picked Apollo, it would jeopardise a joint venture between them.

Caesars owns a 20% stake in William Hill's US operations, which also have special code yohaig rights to operate sports wagering under the Caesars brand name.

The US company, which owns Caesar's Palace in Las Vegas, is especially thinking about William Hill's US bookmaking business which currently has 170 retail sites in 13 various states.

In August William Hill said it would not be reopening 119 of its UK High Street betting stores after the coronavirus shutdown, saying it did not anticipate customers to return in the numbers seen before the yohaig code pandemic.

William Hill stated its directors would "all and unconditionally" advise that investors accept the offer.

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

It said it would integrate the US organization into Caesars with minimal job cuts.

The contract 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 investors."

Caesars primary executive Tom Reeg said: "The chance to integrate our land based-casinos, sports betting and online video gaming in the US is a really exciting prospect."