Caesars set to acquire William Hill by April

Caesars’ $4.03billion acquisition of William Hill is set to happen as all regulatory approvals shall be obtained shortly

Caesars and William Hill’s $4.03billion deal is set to go through by the beginning of April.

The proposed deal dates back to September 2020, when Caesars launched a bid worth $4.03billion to acquire all of William Hill’s share capital (a total of 1.08bn shares) that it did not already own.

The bid was then accepted in November 2020 by William Hill and Caesars plans to keep William Hill’s US betting arm but sell the rest of the business.

The original plan, to acquire William Hill by the second quarter of 2021, is currently on track with Caesars expected to receive approval from the US gaming authorities and other gambling regulators.

Both companies also have a scheduled Scheme Court Hearing set to take place on 30th March, where the court will sanction the acquisition.

SiGMA News reached out to William Hill employees and it can confirm that William Hill’s employees were made aware about the situation a couple of months ago and were told that the changes should not affect them.

However, ‘You can not be 100% sure with these kind of situations’, claimed an anonymous source.

This acquisition follows Caesars’ other acquisition by Eldorado Resorts in a $17.3bn reverse-merger deal. This will put 55 casinos under Caesar’s control.

Source: Igamingbusiness

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