Caesars Entertainment completes acquisition of William Hill22nd April 2021 2:45 pm GMT
New York-listed Caesars Entertainment has today completed the acquisition of Britain’s William Hill for approximately $4.0bn, positioning the company for accelerated growth in US iGaming and sports betting markets.
Caesars will focus on its existing US joint venture with William Hill, which will now be fully integrated to offer a single-wallet for both sports betting and online gaming products across the enterprise in future, as well as a single loyalty program in the form of Caesars Rewards.
Meanwhile, William Hill’s non-US businesses, which include retail operations in the United Kingdom and online betting and gaming operations internationally, will be put up for sale.
“We are thrilled to complete the acquisition of William Hill, combining two of the premier operations in the sports betting and iGaming industries under one roof,” said Tom Reeg, CEO of Caesars Entertainment. “We look forward to announcing future sports partnerships that will drive long-term growth.”
William Hill first offered telephone and postal betting services in Britain in 1934 and established its first betting shop in 1966. The company currently operates approximately 1,400 betting shops in the UK, as well as international online brands such as William Hill, Mr Green and Redbet.
The combined Caesars-William Hill US business currently operates sports betting in 18 jurisdictions and expects to be operational in 20 US jurisdictions by the end of 2021.
Shares in Caesars Entertainment Inc. (NSQ:CZR) opened at $94.03 per share in New York Thursday morning, with shares in William Hill plc. set to be de-listed from the London Stock Exchange prior to the start of trading on Friday (April 23).