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888 will purchase William Hill at the end of June
After many of 888 Holdings’ shareholders agreed, they are in the process of purchasing UK and European assets of William Hill.
888 announced that As a result of EGM voting more than 99% of shareholders voted positive for the takeover, 0.27% of the voters were against and the others remind abstained.
The process is expected to finalize around the end of June, along with the readmission of 888’s capitals on FCA’s list and the trades on London Stock Exchange.
Last year in September 888 bid 2.2 billion pounds for William Hills and won it after being accepted by Caesars Entertainment.
During April, it was agreed to make a discount worth 250 billion pounds for 888.
According to the fiscal perspective, if 888 was able to purchase William Hill during 2021, at the end they would have a 2.1 billion dollars profit and 437 million dollars Earnings before Interest, Taxes, Depreciation, and Amortization.
888’s non-exec director Lord Mendelsohn thanked shareholders for their support. Later he added:
“We cannot wait to purchase William Hill and to create a worldwide online gambling and gaming leader by the union of 2 leading companies.”
After completing this deal Caesars is planning to sell William Hill’s non-U.S. assets.