The combination of 888 and William Hill (WHI) is expected to deliver significant operating efficiencies, including pre-tax cost synergies of at least £100 million per year1, leading to improved profit margins. The Acquisition represents a transformational opportunity for 888 to significantly increase its scale, further diversify its product mix and accelerate the upward shift of its revenue growth profile. The Acquisition will create a global online betting and gaming leader by bringing together two highly complementary businesses and combining two of the industry’s leading brands. to acquire the international (non-US) business of William Hill (WHI) at an enterprise value of £2.2 billion. Morgan Cazenove and Stifel are acting as financial advisers, and Herzog, Fox & Neeman and Latham & Watkins are acting as legal advisers, to 888 in relation to the acquisition.LONDON, UK: 888 Holdings has entered into an agreement with Caesars Entertainment Inc. Completion is expected to occur thereafter during Q2 2022, subject to the satisfaction of any remaining conditions to completion. Now, 888 has confirmed it expects to publish a combined circular and prospectus for the acquisition and capital raise during Q2 2022, with the shareholder vote to follow. 888 has also obtained a fully committed revolving credit facility of £150m.Ĩ88 also expects to raise approximately £500m of gross proceeds by issuing new equity via a capital raise. Morgan, Morgan Stanley and Mediobanca of approximately £2.1bn, which includes approximately £1.6bn of term loans and approximately £500m of bridge loans/senior secured notes.

In order to fund the acquisition, 888 has obtained fully committed debt financing from J.P.

Alongside the William Hill brand, WHI also operates the Mr Green brand across Europe. Its core territories in Europe are Italy, Spain and the Nordics, and it has recently launched in Latin America. Online betting and gaming company 888's proposed £2.2bn takeover of William Hill International is set to complete during Q2, it has been confirmed.įounded in 1934, William Hill has more than 1,400 retail betting shops across the UK and approximately two million active UK customers online.

888 acquires william hill