![]() He added: “We are also excited about the opportunities that the retail business provides and see significant brand benefits to the enlarged group from its large estate.”Ĩ88 said it had secured debt financing for the deal of around £2.1 billion and also expects to raise around £500 million through a rights issue. “This transaction will create one of the world’s leading online betting and gaming groups with superior scale, exceptional brands, increased diversification, and a platform for strong growth.” Itai Pazner, chief executive of 888, said: “The acquisition of William Hill International is a transformational and hugely exciting moment in 888’s history. This transaction will create one of the world's leading online betting and gaming groups There had been speculation that 888 may look to offload William Hill’s betting shops and keep just the online part of the business, but it said on announcing the deal that it is “excited about the opportunities that the retail business provides”.Ĭaesars had made it clear when it snapped up William Hill that it only wanted its American unit, sparking a race to buy the European operations.Ĩ88 had emerged as the front-runner on Wednesday after outbidding rival private equity suitor Apollo Global Management.
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