888 Holdings purchases William Hill for $3.7 billion
This year, large gambling companies have been actively engaged in restructuring their enterprise management systems, expansion of their activities, and opening up of new markets.
Among such companies was 888poker: they decided to purchase another gambling giant, namely William Hill. 888 Holdings announced the merger and takeover of William Hill International the other day. The deal was worth $3.7 billion.
888 Holdings took an interest in William Hill primarily as a sports betting operator, because more than 1 400 bookmakers could thus become the company’s property.
According to 888 chief executive Itai Panzer, the acquisition will create significant value for its shareholders, creating a powerful business tycoon with leading technologies, products and brands in the sports betting, gambling and poker industries. This way, everything will be supported by high-quality management personnel from both companies.
Caesars Entertainment used to own William Hill, but seems they failed to compete with leading gambling companies in the European market. The merger deal is almost complete, and it remains to obtain the approval of the UK Financial Conduct Authority for the process to be finalized.