US mega-casino operator Caesars Entertainment has officially completed the purchase of William Hill, a British bookmaker. With the approval of the High Court of Justice of England and Wales, the final grave approval of the takeover was obtained.
As Caesars Entertainment announced to the online casino news portals, the gaming group will continue to pursue its strategy and will tweak William Hill to suit it.
How much did it cost?
According to the latest data, the company has laid out the equivalent of approximately 3.3 billion euros. Thus, one of the most famous and traditional bookmakers in the UK falls into the hands of an American gambling company. As the operator of numerous casinos announced, the High Court in England and Wales was the last major authority to approve the takeover.
At the same time, Caesars Entertainment has demanded that it stop trading in shares after completing the purchase of William Hill on the London Stock Exchange. The purchase price of 272p per security was offered by the Americans, who are primarily targeting British businesses in the United States.
What is the future of this brand?
From the outset, Caesars Entertainment made it clear that the William Hill acquisition was aimed solely at American businesses and that there was no interest in the other two areas. Online brands owned by William Hill include:
- Online Casino William Hill
- Betting William Hill
- Mr. Green
It is not yet clear what will happen to the well-known name William Hill. If Caesars Entertainment wants to keep this for the US, the brand should be renamed in Europe after the sale, which should certainly drive down the cost of sales. However, it is already clear from this online casino news that Caesars Entertainment will make up the bulk of the three.