Online gambling group 888 to buy William Hill’s non-U.S. business for $3 bln
- 888 to buy William Hill’s non-U.S. business from Caesars
- Expects savings of at least 100 mln stg/year from the deal
- Deal classed as reverse takeover as per UK’s listing rules
Sept 9 (Reuters) – 888 (888.L) will buy William Hill’s non-U.S. assets for 2.2 billion pounds ($3.03 billion) from U.S. casino group Caesars (CZR.O) in a deal that will give the online betting group access to 1,400 betting shops across Britain.
The purchase, 888’s largest since it listed in London in 2005, will also give the company access to William Hill’s 2 million active UK customers at a time when pandemic curbs have spurred record online gambling volumes.
Caesars bought William Hill for 2.9 billion pounds earlier this year as part of a wider consolidation in the gambling industry. U.S. gaming…