William Hill Shareholders Reach Agreement in Favor of Caesars Entertainment Takeover

William Hill shareholders and Caesars Entertainment have reached a monumental agreement at Hill’s London head office.

William Hill, which recently opened a temporary sports betting venue in Washington DC, and its shareholders have voted in favor of the Caesar’ takeover scheme. 81.3% of the shareholders, who hold 86.6% of the entire business have voted to approve the takeover. The takeover will see Caesars acquiring 1.08 billion shared, each valued at £2.72. This means that the takeover bid amounts to a staggering £2.9 billion.

Caesars Entertainment predicts that the outcome of the agreement could mean $700m generated in net revenue for 2021. Caesars also has plans to combine its land-based casinos, sports betting and online gaming in the United States. It is expected that the complete acquisition will be finalized by in the second half of next year.

From the Media

Officials from Caesars, which is currently in negotiations to open a casino in Danville, VA, say that they are pleased about the shareholders’ decision and their and that they are looking forward to completing the transaction next year.

“We are pleased to have received William Hill shareholder for our recommended cash offer. We continue to work towards satisfying the remaining regulatory conditions and look forward to completing the transaction next year and integrating William Hill US into our Caesars sports betting and igaming franchise,” said Tom Reed, Caesar Entertainment’s Chief Executive Officer.

More about William Hill

Hill was founded in the United Kingdom in 1934 and is now one of the most recognizable and trusted brands in the world of sports betting and gaming. The company has 10 offices across the globe and is licensed in four of the world’s largest regulated gambling markets. Hill US was founded in 2012, by merging three sportsbook operators that operated under the William Hill brand. The company started its online business in 1998 and is now one of the leading online betting and gaming providers in the United Kingdom, Southern Europe and the Nordics.

More About Caesars

Caesars Entertainment was created in 2020, when Caesars Entertainment Inc and Eldorado Resorts came together to create the largest gaming company in the United States. The legacy of Caesars Entertainment began in 1937 in Reno, Nevada. The company boasts the world’s most prestigious gaming brands, such as Caesars Palace, Harrah’s, Horseshoe and Tropicana.

Source:

“Monumental verdict reached as Wiliam Hill shareholders approve Caesars deal”, Laetitia Bradamante, sigma.com.mt, Novemeber 23, 2020.