Caesars is in advanced talks with William Hill on a takeover offer that values the British bookmaker at 2.9 billion pounds and would give the casino operator full control of a quickly expanding U.S. sports-betting and online business.
on a takeover offer that values the British bookmaker at 2.9 billion pounds and would give the casino operator full control of a quickly expanding U.S. sports-betting and online business.In a joint statement on Monday, the companies said that Caesars was considering offering 272 pence per share for William Hill and that the board of the UK company was minded to recommend such an offer to shareholders.
“The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a truly exciting prospect,” Caesars Chief Executive Officer Tom Reeg said.Caesars only holds 20% of its U.S. joint venture with William Hill but the business is built on a presence in Caesars casinos and its brand name, which the casino owner said it would have the right to terminate in the event of an Apollo buyout.
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