Sep 9, 2021

888 agrees to buy William Hill European business

888 Holdings has agreed to buy William Hill's European business from its US owner in a deal worth £2.2bn.The online gambling firm said the deal with casino giant Caesars Entertainment would include William Hill's 1,400 UK betting shops. William Hill chief executive Ulrik Bengtsson said: "The William Hill and 888 strategies are highly complementary with an absolute focus on the product and customer experience. An auction for the non-US side of William Hill's business, which includes online operations across the UK and Europe, was initiated by Caesars Entertainment after it had acquired the gambling giant in April for £2.9bn.The Caesars Palace casino owner only wanted the firm's US operations and said from the outset that it intended to sell other parts of the business once the deal had gone through, sparking a race to buy. Tom Reeg, chief executive of Caesars Entertainment, said that he was "Delighted" the firm had "Found an owner for the William Hill business outside the US which shares the same objectives, approaches and longer-term ambitions of that business". Founded in 1934, the William Hill brand started out when its founder set up a postal and phone-based betting business.

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