Harian · January 3, 2022

888 expects to shut William Hill acquisition in Q2 2022

888 Holdings anticipates that it will finish the acquisition of William Hill’s non-US property in the 2nd quarter of 2022. This is a modify from an announcement in November when the firm expected a Q1 completion date.

In its most new update, 888 said it will publish a blended circular and prospectus for the acquisition and money elevate in the second quarter, followed by a shareholder vote to finalise the deal.

The money increase was outlined in the company’s November announcement, when 888 mentioned its intention to create £500m ($675.5m) of gross proceeds by issuing new equity.

Having already obtained all mandatory antitrust and gaming regulatory clearances, these several hurdles continue to be, with the acquisition predicted to complete thereafter, subject to the gratification of any superb ailments.

Following a heated auction, 888 announced that it experienced entered into an arrangement with Caesars Enjoyment, the operator of William Hill, on 9 September to acquire the bookmaker’s non-US assets for £2.2bn.

At the time, 888’s Main Exec Itai Pazner commented: “The acquisition of William Hill International is a transformational and hugely interesting instant in 888’s historical past.

“This transaction will generate a person of the world’s major online betting and gaming teams with superior scale, exceptional brand names, greater diversification and a platform for solid growth.”

In far more recent information, 888 agreed to promote its full B2C and B2B bingo corporations to Saphalata Holdings for $50m. The sale is also scheduled for completion in Q2 2022, adding to an previously active 3-month period for the enterprise.