{"id":121125,"date":"2021-09-09T07:49:24","date_gmt":"2021-09-09T07:49:24","guid":{"rendered":"https:\/\/fin2me.com\/?p=121125"},"modified":"2021-09-09T07:49:24","modified_gmt":"2021-09-09T07:49:24","slug":"caesars-entertainment-to-sell-william-hills-non-us-assets-to-888-holdings-in-2-2-bln-deal","status":"publish","type":"post","link":"https:\/\/fin2me.com\/industries\/caesars-entertainment-to-sell-william-hills-non-us-assets-to-888-holdings-in-2-2-bln-deal\/","title":{"rendered":"Caesars Entertainment To Sell William Hill&#8217;s Non-US Assets To 888 Holdings In \u00a32.2 Bln Deal"},"content":{"rendered":"<p> Casino-<span>entertainment<\/span> company Caesars Entertainment, Inc. (CZR) announced Thursday an agreement to sell the non-US assets of William Hill to online betting and gaming company 888 Holdings Plc (888.L) for approximately 2.2 billion pounds.<\/p>\n<p>Caesars expects to receive net proceeds from the deal of approximately 835 million pounds or $1.2 billion after the repayment of debt and other working capital adjustments.<\/p>\n<p>The transaction is subject to receipt of the approval of shareholders of 888 Holdings and regulatory approvals. Caesars expects the deal to close during the first quarter of 2022.<\/p>\n<p>Caesars CEO Tom Reeg said, &#8220;&#8230; as we said we would when we announced the offer for William Hill PLC, we have found an owner for the William Hill <span>business<\/span> outside the US which shares the same objectives, approaches and longer-term ambitions of that business.&#8221;<\/p>\n<p>In its statement, 888 said the acquisition of William Hill International represents a transformational opportunity to significantly increase its scale, further diversify its product mix and accelerate the upward shift of its revenue growth profile.<\/p>\n<p>The combination of 888 and WHI is expected to deliver significant operating efficiencies, including pre-tax cost synergies of at least 100 million pounds per year, leading to improved profit margins. On a pro forma normalised basis, the combined company&#8217;s annual revenue and adjusted EBITDA in 2020 would have been $2.5 billion and $464 million, respectively. <\/p>\n<p>Source: <a href=\"https:\/\/www.rttnews.com\/3224255\/caesars-entertainment-to-sell-william-hill-s-non-us-assets-to-888-holdings-in-2-2-bln-deal.aspx?type=maa\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Casino-entertainment company Caesars Entertainment, Inc. (CZR) announced Thursday an agreement to sell the non-US assets of William Hill to online betting and gaming company 888 [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Caesars Entertainment To Sell William Hill&#039;s Non-US Assets To 888 Holdings In \u00a32.2 Bln Deal - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/industries\/caesars-entertainment-to-sell-william-hills-non-us-assets-to-888-holdings-in-2-2-bln-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Entertainment To Sell William Hill&#039;s Non-US Assets To 888 Holdings In \u00a32.2 Bln Deal - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Casino-entertainment company Caesars Entertainment, Inc. 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