Online betting and gaming giant 888 Casino has revealed that it expects to complete its acquisition of William Hill’s non-US assets from Caesars Entertainment during the second quarter of 2022.
888 Casino announced in September 2021 that it had reached an agreement worth £2.2bn, taking over William Hill from Caesars. 888 is one of the top developers in the gambling industry, having been awarded endless awards, described as ‘the only truly pan-European casino’ by Gaming Intelligence magazine in 2015, and announced as the title sponsor for the 2021 Portuguese Grand Prix, amongst other successes. As an online casino, 888 is known for offering a great selection of games and some of the best no-deposit casino bonuses.
Before 888 Casino, Caesars had acquired the William Hill business in 2021 for £2.9bn but it had only purchased the business for its US operations and tech with plans to dispose the international assets. 888 now plans to publish a combined prospectus for the acquisition and related capital raise in Q2, with the shareholder vote to follow. Completion is expected to happen after Q2, subject to the satisfaction of the remaining aspects.
Chief Executive Itai Pazner said that this acquisition will naturally change the 888 business, moving towards a more diversified balance between betting and gaming, online and retail. ‘William Hill International is all of the original William Hill PLC except for the US business. It includes all of the technology and brands, and critically all of the talented people, with over 10,000 new colleagues. As a result, the transaction critically enhances the scale and diversification of the business, particularly in betting.’
‘The combination of 888’s technology and gaming-led business and William Hill’s sports-led business will create a really powerful and large business,’ continues Pazner. ‘Underpinned by scale, technology talent and brands, the enlarged business will be really well-placed for continued growth.’
This news comes after 888 agreed to sell its B2C and N2B bingo business to Saphalata Holdings Ltd, a deal that was worth up to $54.0m.