William Hill Spoortsbook Confirmed Caears Takeover

William Hill stated that it is pleased to announce that the deal will proceed.

After being approved by a court on Tuesday, the £2.9 billion takeover is expected to take place next week. The acquisition of William Hill by US gambling titan Caesars is expected to be the largest shift in gambling industry ownership in recent history. However, Caesars just wants to run the US side of the business. And will sell the rest of the brand once it has purchased it, according to the company. Private equity firm Apollo Global Management and 888 Holdings are rumored to be interested in buying the European arm of the brand.

Roger Devlin, chairman of William Hill, stated:

• The William Hill board is pleased that the court has confirmed the scheme of arrangement and the deal with Caesars will complete on April 22. Throughout this process we have said that this deal provides shareholders with a cash price that fairly balances both the exciting opportunities and risks inherent in the business and delivery of its strategy.
• I would like to pay tribute to William Hill’s revitalised senior leadership team and all our employees. They have delivered on important parts of its longer-term growth strategy to realise the brand’s potential. The company is in excellent shape and looks forward to the future with confidence.

William Hill History

In the year 1961, The company began as a postal/telephone betting service for William Hill.

1966 was the year William Hill invests in betting shops and begins to acquire existing businesses. Over the next several decades, acquisition will be a major driver of the company’s growth.

Mr William Hill, the original founder of the company, dies after retiring from the business in 1970. The company is absorbed into the Sears Holdings Group.

Grand Metropolitan, the owners of Mecca Bookmakers, purchased William Hill in 1988 and merged the two companies under the William Hill name.

Brent Walker buys William Hill in 1989. At that time Will Hilll has 1,800 betting shops and the world’s largest betting operation.

Accepting football pool coupons in betting shops became legal in 1994. But the introduction of the National Lottery posed a threat to William Hill’s profitability.

Finally William Hill goes online with the launch of the betting service, Sportsbook, 1998.

1999-2000 – When the company was sold to Cinven and CVC Partners for £825 million, a planned stock market float was scrapped. Then William Hill introduces an offshore telephone betting service. Company becomes the first major bookmaker to offer a deduction-free betting service to UK-based clients via the internet.

Acquisitions in the United States of American Wagering, Inc., Cal Neva Sportsbook Operations, and Brandywine Bookmaking. William Hill becomes the first European gaming operator to be granted a full gaming license in Nevada by the Nevada Gaming Commission. Completing the previously announced acquisitions of three US land-based businesses – 2013-2014.

The year 2019 with effect from April 23, 2018, the Group completed the sale of its Australian businesses to CrownBet Holdings PTY Limited for an enterprise value of A$300 million. With effect from April 23, 2018, this equates to an equity value of A$313.7m.