Online gaming group 888 Holdings will be purchasing William Hill's business assets outside of the United States after striking a deal with Caesars for £2.2 billion.
The deal will see 888 taking hold of more than 1,400 betting shops throughout the United Kingdom, as well as a customer base of more than 2 million UK punters that have frequented the business over the years. This is the first foray into retail betting for 888, who's been almost exclusively focused on online betting in the past.
Caesars has said that they weren't interested in the retail business, and instead was focusing on the online side of William Hill's business. They recently rebranded all William Hill brands in the United States to their Caesars brand and are undergoing a massive marketing push there.
888's CEO Itai Pazner said that the company has no plans on closing betting shops, noting: "Our plans are absolutely to keep the shops. The shops are run well, they are profitable, they went through a big transformation in the last couple of years.
Caesars CEO Tom Reeg also commented, noting: "We have found an owner for the William Hill business outside the U.S. which shares the same objectives, approaches and longer-term ambitions of that business."
Casino Listings News is following the story and will be updating readers as developments and approvals of the sale are announced.
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