888 plans US market exit despite sports betting expansion
The large gaming corporation 888, which also owns William Hill and other well-known brands, intends to exit the US market.This decision is made in spite of the fact that...
William Hill sold to 888 in a 2.2-billion-pound deal
The Gibraltar-based famous public company – 888 Holdings PLC, bought out one of world’s biggest casino and sportsbook brands – William Hill International, in a £2.2bln agreement.
William Hill, previously owned by Caesars, which bought the brand in a 3.7-billion-dollar agreement in 2020, is now going to be acquired by 888 Holdings, who made it a point that it’s going to keep William Hill’s over thousand shops post-acquisition, in comparison to Caesars who didn’t focus on the company’s British bookmaking shops or other aspects not relating to US operations.
After the legalization of sports betting in US in 2018, Caesars Entertainment put more of its focus on gaining William Hill’s huge wealth of experience in the English gambling industry, which later provoked a race for William Hill’s non-US assets, which was won by 888 Holdings.
In relation to the shareholders’ agreement or disagreement, 888 is going to acquire William Hill’s remaining assets, which the company hopes to finish by the end of next year.
The 888 CEO – Itai Pazner, mentioned in a few of his statements about the recent acquisition:
“Our plans about William Hill’s retail shops are to keep them, along with the patrons that are already working there.”
888 revenue down 10% in Q3 2023
888 Holdings has experienced a revenue decrease of 10% in the year’s third quarter.This announcement follows a bit over half a month after the gambling firm published a...
