Who will finally get William Hill’s ‘non-US’ assets?
William Hill Plc’s ‘non-US assets’ are said to be acquired in a bid by Apollo Global Management. The New York-based investment fund opted for this decision in the same period as William Hill Plc planned to merge with the US partner Caesars Entertainment.
It was Ceasars that voiced about the 2.9 billion deal to acquire the FTSE250 firm and came to suspend Apollo’s intention for a bid consequently.
Executives at William Hill are quite optimistic on Hill and Caesars merging, seeing it as a new opportunity to enter the US market. As for Apollo, it is now given the time to review its bid, although, now its main strategic focus appears to be on European subsidiaries of William Hills.
However, market experts reckon the probability that Caesars will not allow selling-off of William Hill’s all non-US assets. This is seen in the light of Caesars merging with Eldorado Resorts, becoming the biggest casino and hospitality business in North America.
At this point, Caesars is carefully considering the fate of its European assets with its investors being more resolute for its US-market propositions.
Major firms are also waiting for Ceasars’ strategy in separating William Hills’ UK and European subsidiaries to get the perfect moment to acquire the assets. Fred Done, from Bedford, has already got hold of a 6% stake from William Hill, benefitting from its price during the pandemic.
Another market actor 888 Holdings is closely watching the digital assets of Mr Green, the Scandinavian online casino, and William Hill Online. For 888 Holdings this targets are seen as perfect gateways for expansion into sportsbook industry to secure its place in the European regulated markets.