There have been notable rumours regarding the US Division of William Hill, with speculation indicating that an inevitable takeover will happen throughout 2020. Those rumours can be laid to rest, with William Hill confirming that they’re in discussions with two proposals from American-based companies. The sale of William Hill – US Division, would end an iconic era of brick & mortar gambling that became a launching point for digital betting.
The Board of Directors for William Hill revealed that they’d obtained two proposals for acquisition of their US Division. The 1st proposal came from Apollo Global Management, a private equity fund group in New York City. The 2nd offering if William Hill’s strategic partner, Caesars Entertainment. The long-standing relationship between these two parties will likely see Caesars Entertainment victorious of William Hill’s acquisition.
Immediately after making the announcement, William Hill’s FTSE share valuation rose by 19%. Learning that Apollo Global Management could takeover a prominent betting corporation increased the interest of investors. It prompted William Hill – US Division to see their highest valuation on the FTSE in 2020 & 2019.
Rumours surrounding William Hill’s potential acquisition began in August, prompting an influx of activity in September regarding the WHUS share price. Speculation suggested that Caesars Entertainment was offering William Hill – US Division a buyout offer of $17 Billion. Either party hasn’t confirmed that acquisition offer. However, it’s known that Caesars Entertainment and Apollo Management Group are bidding against each other for the final contract.
Discussions between these three parties are still growing, with William Hill not ruling out any other investment groups that want to place an offer. Any additional recommendations must be finalized by October 23rd for genuine contention. William Hill’s US Division will have several days afterwards to decide which bid is accepted. Apollo Management Group is likely willing to offer WHUS more than $17 billion for acquisition.
The exclusive demand in the acquisition contract is continuing the William Hill – US Division Agenda. Drastic growth must be maintained & promised by any betting or investment firm that makes an offer. WHUS has noted that this term isn’t negotiable under any circumstances.