‘Shareholders Vote 86% in Favour of Caesars Entertainment William Hill Takeover’
One of the USA’s giants in gambling entertainment is poised to become the proud owner of the UK online casino and sports betting giant William. The Caesars Entertainment William Hill takeover is a hot topic in the iGaming industry, which will also affect live dealer platforms such as Evolution.
Last Thursday the vote was complete with 86% of shareholders happy for the £2.9 billion transition deal over to Caesars Entertainment Inc to move forward. Shareholder votes were worth 47.3% of the overall voting power to decide the deal which swung the ‘cash offer’ takeover bid into Caesars Entertainment’s hands. However, Caesars announced the takeover will not complete until Q1 of 2021.
March Q1 of 2021 transition of William Hill to Caesars Entertainment
Before Caesars Entertainment takes full control, there is a matter of satisfying regulatory conditions across Europe as per an announcement from the CEO of Caesars Entertainment, Inc, Tom Reeg. In his statement, he said that he fully expects to satisfy all regulatory requirements by the beginning of 2021.
With Caesars Entertainment Inc already a firm fixture in the US gambling market, the company is already well-positioned to deal with these gambling regulations, and as such, the school of thought is that this part of the acquisition process is only a formality.
Dealing with European gambling regulations is not too dissimilar to that of the USA where each state has its own laws and regulations.
With new licensing authorities introduced across multiple European countries, individual processes to satisfy each licensing authority will be much the same processes Caesars recently went through to obtain its Pennsylvania gambling license where online casinos are now legal. Just this month (November 2020) Evolution and Caesars announced their Pennsylvania partnership!
For the time being, Caesars Entertainment will focus on retaining licensing in countries where William Hill currently has large player bases such as the UK where the UKGC operates all gambling licenses. Some countries where there were some doubts include Austria where Caesars Entertainment was at risk of falling foul to Section 17 of the Austrian Cartel Act; however, Austrian regulatory authorities recently announced that Caesars Entertainment passed the country’s stringent due diligence processes.
Evolution live casino partners with William Hill & Caesars Entertainment Inc
Although unlikely that Evolution will see any changes once the Caesars Entertainment William Hill takeover deal is complete, this is a great deal all the same from an Evolution perspective. Evolution already supplies Caesars Entertainment with its Ezugi and Evolution live dealer platforms, while last month Evolution signed an agreement with William Hill to supply its New Jersey casinos with Evolution live dealer tables.
On top of this, William Hill’s European online casinos have the entire suite of Evolution live dealer games. Europe is then centrepiece for the majority of Evolution live tables and game show games. Players can find almost every Evolution live casino variant as a member of a casino licensed by the Malta Gaming Authority and UKGC. These live table games stretch far and wide as the casinos hosting them have large and diverse member bases that can stretch across most of Europe and over the pond into Canada, then due South into multiple African nations such as South Africa, and over into the East where India and New Zealand are also popular locations where players log on to play Evolution table games.
With the deal now finally confirmed, this is significant news for Evolution as the takeover will be all the smoother as the firm already has a great relationship with Caesars Entertainment!
We will keep you up to date on any developments, and in Q1 of 2021, we will cover the finalisation of the takeover deal, so stay tuned!
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