Caesars Entertainment

Caesars Entertainment will buy British biggest bookmaker William Hill

A large casino operator Caesars Entertainment plans to purchase a British company William Hill. The latter is one of the largest bookmaker offices on the world market. The deal is to take place in the second half of the year 2021.
Apollo Global Management investment corporation was also among those wishing to purchase a bookmaker. It was the first one to send a proposal for acquisition to a British company. However, the American operator Caesars was able to provide more favorable conditions for William Hill. In addition, a U.S. company has been cooperating with a British bookmaker for some time already, owning a 20% stake in their joint company.
According to the deal, Caesars and William Hill will combine a number of services for users, including mobile applications and online wallets functionality. In addition, customers of the betting office will be able to use the operator’s loyalty program, which applies to hotels and casinos. According to Caesars, the purchase of the British company should increase its profit by about 600-700 million dollars a year.
It should be noted that in 2020 Caesars was bought by Eldorado Resorts, the amount of the deal was $17.3 billion. According to the agreement of the parties, Caesars has remained to work under its brand, and its shares can be bought on the exchange. Such acquisition allowed Eldorado to become the country’s largest operator in the game segment.
Despite the fact that the pandemic has hit the entertainment market painfully, many companies have managed to get back on their feet by the beginning of this year, and institutions are working, though not all of them. After the quarantine restrictions were lifted, the number of casino visitors increased every month, but the revenue was not enough due to the inability to hold large conferences and entertainment events.

Caesars Entertainment takes the third place in the USA among the hotel casino operators. Initially, the company was one of the divisions of the hotel giant Hilton, and the history goes back to the 40s. However, after a while it was able to grow into one of the leaders in the gaming segment.
Ceasars belongs to well-known establishments throughout the country and its borders. The most popular are casinos Caesar’s House, Harras, and Hotel Paris, located in Las Vegas. In addition to facilities in the USA, the operator owns facilities in Uruguay, and implements plans to develop other markets.
William Hill was founded in 1934, during the British history, when gambling was prohibited. Different companies became owners of the company at different times. Since 1999, venture capitalists Cinven and CVC Capital Partners have been involved in the bookmaker’s business. The office offers the user not only sports betting, but also various online gambling.