Apr 7, 2022
Shares in betting group 888 surge after it cuts William Hill deal price
Shares in online betting company 888 surged on Thursday after it agreed to cut the price for William Hill's international business after its acquisition from US casino operator Caesars Entertainment in September. The Gibraltar-based gambling group said it would buy William Hill's non-US business for £1.95bn to £2.05bn, down from £2.2bn agreed seven months ago, sending shares 24 per cent higher to 237.8p by late morning in London. It said the decision reflected the "Change in the macroeconomic and regulatory environment since the announcement of the acquisition as well as compliance factors impacting the William Hill business". The UK Gambling Commission is reviewing William Hill's licence after it supplied incorrect data to the regulator. The group acquired William Hill's non-US business last year after US casino company Caesars took the bookmaker private in 2020.
Related companies
Make a complaint about William Hill by viewing their customer service contacts.
