Shareholder Vote for WH Takeover

The full ‘reverse takeover’ of William Hill by 888 Holdings, the owner of the formidable 888 live casino, is now moving into its final phase. In fact, many of us assumed this was a done deal, but as 888 is floated on the LSE, shareholders will also have their say on whether the purchase will go ahead.

Once the votes are in, 888 Holdings will officially own one of the UK’s largest sports betting companies, and one of iGaming’s most formidable online casinos and sports books. However, the deal is for the non-US assets currently owned by the current owner Caesars Entertainment Inc.

Now one surprising fact that comes out of this deal is that it is a ‘reverse takeover’ because the assets being purchased are in fact larger than 888 Holding’s current operations. In the report put forward by the board of directors at 888, there is full support encouraging shareholders to vote in favour of the deal, which will include ownership of all William Hill retail sports shops, the William Hill live casino, online sports betting sites, and casino operations.

Should voters agree with the move, 888 will become the third-largest publicly traded iGaming company in the world. It will also give the company and brands a significant chance to build on that with its joint William Hill and 888 prowess becoming what 888 specifically described as “an attractive omnichannel opportunity in the UK”.

888 Investor Centre: 888 is one of the most transparent PLCs online always providing shareholders with timely up-to-date information not only in accordance with the law but additional information to keep all stakeholders informed. If you are interested in learning more about the Caesars Entertainment Inc sell-off, check out the 888 acquisition of William Hill page here.

Why is Caesars Entertainment Inc Selling its Chance to Operate in Europe?

Due to changing regulations across the globe, Caesars is looking to concentrate on its US ambitions. The country is currently on cruise control where offline and online sports betting is growing at an immense pace as is online poker and gambling in the country as multiple states pass legislation to allow a variety of forms of gambling including retail, inside land-based casinos, and online.

More than 19 states now allow online sports betting, and Caesars Entertainment Inc will be looking to open its William Hill online sports betting app in all. On top of this, there are over 40 states that allow Pari-mutuel Betting which includes dog racing and horse racing, so there’s plenty of scope for growth.

Just recently we also saw the news that Missouri, Massachusetts, and Maine may also soon join the online iGaming and sports betting states with legal frameworks, while just recently New York kick-started its legal online sports betting market.

Currently, Caesars Entertainment Inc will continue its online William Hill live casino operations in Michigan while the brand will continue to operate William Hill retail operations such as those found across Las Vegas.

One thing is for certain here, 888 and William Hill may not be competitors outside the US as they are one in the same, but across the states that’s another matter as 888 is also making big moves across the iGaming and sports betting industries in multi states, while also planning on continuing its global operations. And while Caesars Entertainment Inc is to remain focused on the US, its competitor MGM Resorts is going in the opposite direction after its takeover bid of LeoVegas which will take the US firm across the pond into European markets.

The Caesars Strategy: There are plenty of states to target with sports betting in a market of over 200 million people, and 300+ million if all states eventually pass laws to allow sports betting. And as all operations will focus on the US domestic market, exchange rate issues will not affect the firm’s William Hill operations, overseas licensing laws, and regulations, or marketing operations across non-US cultures. All-in-all, it’s a stable approach to business in the current world climate.

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