- 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 business outside the United States from casino group Caesars (CZR.O) for 2.2 billion pounds ($3 billion), making a foray on to Britain’s high streets with 1,400 betting shops.
The purchase, 888’s largest since listing in London nearly two decades ago, will also give the company access to William Hill’s 2 million active UK customers when pandemic curbs have spurred record online gambling volumes.
888 has until now been a pure online player, whereas William Hill’s shops have long been a feature of British streets.
888 CEO Itai Pazner played down speculation that the company might seek to offload the…