888 expects to shut William Hill acquisition in Q2 2022
888 Holdings anticipates that it will comprehensive the acquisition of William Hill’s non-US property in the next quarter of 2022. This is a transform from an announcement in November when the business anticipated a Q1 completion date.
In its most current update, 888 explained it will publish a combined round and prospectus for the acquisition and capital elevate in the second quarter, followed by a shareholder vote to finalise the offer.
The capital raise was outlined in the company’s November announcement, when 888 said its intention to produce £500m ($675.5m) of gross proceeds by issuing new equity.
Having by now received all obligatory antitrust and gaming regulatory clearances, these handful of hurdles keep on being, with the acquisition anticipated to comprehensive thereafter, issue to the pleasure of any superb disorders.
Pursuing a heated auction, 888 declared that it had entered into an agreement with Caesars Enjoyment, the operator of William Hill, on 9 September to acquire the bookmaker’s non-US assets for £2.2bn.
At the time, 888’s Main Exec Itai Pazner commented: “The acquisition of William Hill Intercontinental is a transformational and vastly enjoyable moment in 888’s historical past.
“This transaction will make just one of the world’s foremost on the internet betting and gaming groups with superior scale, excellent makes, increased diversification and a system for powerful growth.”
In much more new news, 888 agreed to promote its whole B2C and B2B bingo firms to Saphalata Holdings for $50m. The sale is also scheduled for completion in Q2 2022, incorporating to an currently active 3-thirty day period time period for the business.