In a blockbuster deal, online gambling company 888 agrees on terms to buy William Hill’s non-U.S. units for a staggering $3 billion. This news comes shortly after Caesars Entertainment Inc. bought William Hill back in April.
Caesars will hold on to William Hill’s U.S. assets and sell the rest to 888 to reportedly pay down debt. The online gambling market has steadily grown since the start of Covid-19 and this deal allows 888 to continue to capitalize on that growing market.
Previously, 888 was an online only company that held no physical retail space. That all changes as it acquires 1,400 betting parlors previously owned and operated by William Hill. All signs point to 888 keeping those storefronts open for now, as they were generating solid interest in the pre-pandemic marketplace.
888’s chief executive Itai Pazner was quoted saying, “The acquisition of William Hill International is a transformational and hugely exciting moment in 888’s history. This transaction will create one of the world’s leading online betting and gaming groups with superior scale, exceptional brands, increased diversification, and a platform for strong growth.
Although 888 was a relatively small player outside of the U.S., this deal will serve to boost it’s size tremendously. Some were even surprised that 888 won the deal to acquire the assets in the first place, since it was known that other parties were also interested.
Our experts reviewed on 888’s online offerings and we can tell you that they already have a strong lineup. Whether it’s their sportsbook, online casino, or poker room, 888 has something for everybody. There’s a good chance their quality offering will even improve based on this large acquisition.
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