With initial bidders’ proposals closing in on Tuesday, Apollo is seeming to be well-positioned to conquer the game
Caeser’s Entertainment bought William Hill for £2.9bn with plans soon after to sell off William Hill’s 1,400 UK betting shops as well as its European online business. The auction for these assets took off in May and will close this Tuesday.
Last autumn Apollo Global Management (NYSE: APO) performed the due diligence on William Hill having intimate knowledge of the assets Caesers is looking to sell, according to experts, this will give a significant head start to the company.
The expected cost of the auction is looking to go at £1.2bn with Apollo leading the game. The US-based gaming giant is offering $3.69 billion for William Hill’s international business
Apollo’s competition is quite high with Betfred Fred Drone and 888 Holdings rumored to also be joining this bidding war. At the moment Drone owns 1,600 shops across the UK.
William Hill’s international assets are rumored likely to fetch $2 billion or more.
Malta Week – Save the dates:
For the first time ever SiGMA Group is bringing its 4 leading shows together for the mother of all conferences. From the 16th to 19th November, SiGMA, alongside AGS and AIBC will bring the best in the business to a first-class meeting point. Join us for the 7th edition of SiGMA at the MFCC – Malta Fairs Conventions Centre, and explore how you can benefit from being a delegate, a sponsor, an exhibitor, or a keynote speaker.