William Hill Agrees ₤ 2.9 Bn Takeover

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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 over UK betting company William Hill.

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

US private equity company Apollo had likewise tried to take control of William Hill.

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

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

The US firm, which owns Caesar's Palace in Las Vegas, is particularly interested in William Hill's US bookmaking service which presently has 170 retail sites in 13 various states.

In August William Hill stated it would not be resuming 119 of its UK High Street betting stores after the coronavirus shutdown, saying it did not expect clients to return in the numbers seen before the pandemic.

William Hill stated its directors would "unanimously and unconditionally" suggest that shareholders accept the yohaig code offer.

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

It stated it would integrate the US business into Caesars with minimal task cuts.

The contract comes not long after William Hill stated it was inclined to suggest Caesars' offer.

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

Caesars chief executive Tom Reeg stated: "The chance to combine our land based-casinos, sports betting and online video gaming in the US is a truly interesting prospect."