William Hill Purchase Still Proceeding
Popular sportsbook, poker, and casino operator 888 Holdings have announced that they still aim to complete the purchase of their competitors’ company William Hill by the end of June, despite delays.
On Friday, 888 Holdings made an official press release confirming they are still committed to finalising the agreement. There are no exact figures released. However, it is rumoured that the sale will be in the region of £2 Billion and will conclude in the second quarter of 2022.
Initially, the purchase of William Hill’s whole company was due to be complete in March as of this year. One of our sources told us that these delays could have been because of anti-trust concerns that obligated 888 to sell their entire bingo business to Saphalata Holdings Limited for around £37 million. This purchase is not due to be finalised until the second quarter of this year. Once complete, they will complete the William Hill purchase.
William Hill is a giant in the gambling industry. The popular gambling operate has over 1,400 land-based betting shops and online presences at WilliamHill.com and MrGreen.com. With this in mind, our source told has told us that there are potential doubts as to whether 888 Holdings will be given complete control over William Hills land-based operations once the purchase is completed. Many parties are interested in this, including Betfred, BoyleSports, Apollo Global Management, and more.
Statements From The CEO
The CEO of 888 Holdings, Itai Pazner, stated that once William Hill’s purchase is final, this will “create one of the worlds leading online betting and gaming groups.”. Further from that, Itai stated that their new company will have “superior scale, leading tech, increased diversification, and a platform for strong growth.”
In November 2021, Itai said, “I’m delighted that we have now checked off a number of important milestones towards completion of the William Hill acquisition.”. Given the strong progress we have made we now expect the transaction to complete in the first quarter of 2022 and are excited about the opportunities ahead of us as we combine two powerful and complementary businesses.”
We’re excited to see if this purchase concludes. If it does, 888 Holdings will be a formidable force in the gambling industry. Already, they have a fantastic reputation, but mainly in America. This purchase will significantly increase their exposure in the UK, a market they haven’t had as much success in.