7th Sep 2021 12:34
(Alliance News) - 888 Holdings PLC on Tuesday confirmed that the gambling firm is in advanced talks with Caesars Entertainment to buy William Hill's assets outside of the US.
Gibraltar-headquartered 888 said that there could be "no certainty that these advanced discussions will result in a transaction", but that a further announcement would be made when appropriate.
888's statement comes after The Times earlier on Tuesday reported that the FTSE 250 constituent has won the race to buy William Hill's European business from Caesars.
The Times said 888 outbid Apollo Global Management with an estimated bid of more than GBP2 billion.
Caesars sealed its acquisition of former London listing William Hill in April this year, and is looking to sell off its non-US assets. The Times said the sale process includes William Hill betting shops and online operations across the UK and Europe.
https://www.thetimes.co.uk/article/888-wins-william-hill-auction-sld6wcf5d
Shares in 888 were up 0.8% at 409.74 pence in London on Tuesday.
By Will Paige; [email protected]
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