888 Holdings acquires William Hill International
⏱ 1 min read
(London).- 888, one of the world's leading online gambling and betting companies, announces that it has reached an agreement with Caesars Entertainment, Inc. to acquire the international business (excluding the United States) of William Hill for an enterprise value of 2.2 billion pounds sterling.
The acquisition will create a global leader in online gambling and gaming by bringing together two highly complementary businesses and combining two of the industry's leading brands. The acquisition represents a transformational opportunity for 888 to significantly increase its volume, further diversify its product mix, and accelerate the upward shift in growing its revenue portfolio. The combination of 888 and William Hill International is expected to generate significant operating efficiencies including pre-tax cost synergies of at least £ 100 million per year leading to improved profit margins. On a pro forma normalized basis, the annual revenue of the expanded group adjusting its EBITDA in 2020 would have been $ 2,500 million and $ 464 million, respectively.
The newly built group will be strongly growth oriented with clear scale benefits and strong geographic and product diversification. With a focus on regulated markets, you will be able to offer clients world-class products backed by leading brands in betting and gaming, driving sustained growth and the creation of shareholder value in the medium and long term.
Categoría:Gaming
Tags: Sin tags
País: United Kingdom
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