888 Holdings plans to finalize the acquisition of William Hill’s non-US assets by the second quarter of 2022. This is a change from the announcement made in November, when the company expected a completion date in the first quarter.
In its latest update, 888 said it will publish an official notice and prospectus regarding the acquisition and capital increase in the second quarter, followed by a shareholder vote to complete the deal.
The capital increase was featured in the company’s announcement in November, when 888 declared its intention to generate £500 million in gross proceeds through the issuance of new shares.
Having already received all the mandatory regulatory and gaming authorizations, these few obstacles remain, with the acquisition scheduled to close this first semester.
After a heated dispute, the group reached an agreement with Caesars Entertainment, owner of William Hill, on 9 September to buy the bookmaker‘s assets outside the US for £2.2 billion.
At the time, the company’s chief executive, Itai Pazner, commented: “The acquisition of William Hill International is an extremely exciting time of transformation in our history. This transaction will create one of the world’s leading online betting and gaming groups with superior scale, exceptional brands, greater diversification and a robust platform.”
888 Holdings recently agreed to sell all of its B2C and B2B bingo businesses to Saphalata Holdings for $50 million. The deal is also scheduled to close in the second quarter of this year.
About 888 Holdings
888 has been at the forefront of the online gaming industry since the company’s founding in 1997, providing B2B players and partners with an innovative, world-class online gaming experience. The group’s goal is to develop cutting-edge technology and products that provide fun, fair and safe gaming products for players.
