The UK retail betting sector has become less lucrative in recent years because of diminishing consumer interest in horse racing, the growth of online sports betting, and tighter government controls on products like fixed-odds betting terminals.<\/p>\n
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But in a March earnings call, 888 CEO Itai Pazner said the retail business \u201ccould be an interesting asset,\u201d adding there were \u201cbenefits\u201d to owning betting shops. Founded in 1934 as a postal and telephone-based betting service, William Hill opened its first shops in the mid-1960s when they first became legal in the UK.<\/p>\n<\/div>\n
It was for many years the UK\u2019s leading land-based betting company until it was usurped by the merger of Ladbrokes and Coral, which is now part of the Entain group.<\/p>\n
The deal is still subject to shareholder approval, and it will also need a green light from the UK\u2019s Financial Conduct Authority.<\/p>\n","protected":false},"excerpt":{"rendered":"
The worst-kept secret in gaming\u00a0is now official. On Thursday morning, 888 Holdings confirmed it has agreed to purchase William Hill\u2019s non-US assets from US casino giant Caesars Entertainment Inc., beating the private equity firm Apollo Global Management to the punch. The price, previously reported as \u201cat least\u201d \u00a32 billion, is \u00a32.2 billion ($3 billion). 888 […]<\/p>\n","protected":false},"author":36,"featured_media":185271,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\n
888 Announces $2.2B Deal to Acquire William Hill\u2019s Non-US Assets<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n