Possible Bidder For William Hill. The sale process has started with the bidding which is tagged at 1.2 billion Euros. (Image by Tamanna Rumee on Unsplash)
Caesars Entertainment has announced the commencement of the bidding process for William Hill, its European asset (betting firm) billed for this week beginning with sealed offers for the property. The US gaming firm acquired William Hill’s total assets for 2.9 billion Euros but disclosed that it wanted to keep only the US-facing business with the intention to sell all European business.
The sale process has now been kicked off, beginning with the bidding and rumors of a new player entering the bidding currently going round for what is touted to be around 1.2 billion Euros worth in the region. A report from the Financial Times reveals that the US private equity firm, Advent International is also interested in bidding for William Hill. Similarly, Apollo Global Management and 888 Holding are also expected to be part of the bidders in addition to other players who are in the race of acquiring William Hill’s assets.
It has been thought that diverse parts of William Hill with its wide array of products could be sold off to different players. 888 Holdings certainly wants the online business but the asset also has a broad retail business which could interest other parties such as Boyle Sports, Betfred among others to grow their portfolio. Many observers are surprised to see the US company Advent International in the bidding race as the equity company does not have any prior investments in the gambling sector when compared to Apollo. The observers wonder if this could be a way to hasten the break-up of the asset to individual bidders. Many companies like Advent International see more value once they acquire a business or asset to break it into parts and also get greater value than when they sell or by the entire business.
About William Hill
William Hill is an online betting platform that gives players the definitive betting experience on their tablet or mobile phones via the William Hill app where players can also get instant prizes on several markets and remain close to the core of the action with advanced in-play scoreboards and streaming. The platform also boasts Esports, boxing, football, and horse racing in addition to other promotions, price enhancements, special offers, and casino bonuses it gives its customers every day to guarantee them great value always.
William Hill prides itself in its strong attitude and belief that betting should be secure, safe, and fun for everyone while putting its customers at the heart of its operation. There is a standby contact team on the ground for any player who feels like talking to someone or who needs help in controlling their betting activity.
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