Entain Tracks Sale of William Hill's European Assets

Manual Entain Plc closely follows planned sale assets William hill in the UK and Europe by the new owner Caesars Entertainment .

General Director of the Group, Yette-Nygaard Andersen , reported Bloomberg that the FTSE 100 firm was considering the acquisition of William Hill's UK / European arm, which Caesars Entertainment intends to sell as the new owner of the legacy betting group.

“We are looking at everything, so we are definitely also looking to see if this could be an interesting opportunity,” Andersen noticed but did not disclose any additional information in relation to specific William Hill assets.

Caesars initiated a bidding competition for all non-US divisions of William Hill earlier this month, including all 1.

If a successful takeover is completed, it will significantly strengthen Entain's position in the UK market, where the company already owns approximately 40% retail betting locations that own Ladbrokes and Coral Street brands.

Entain is likely to face stiff competition if an offer is made, mostly in the form Apollo Global Management - is touted as one of the top contenders for the competition, having access to William Hill's books while competing with Caesars to seize power in the United States.

Other suitors who have reportedly been eyeing William Hill scraps include a converted 888 Holdings who want to expand their UK profile by re-registering for the FTSE 250 and UK betting tycoon Fred Dawn , owner Betfred .

Entain rates are likely to be the highest for those involved in the deal. regulatory oversight, as the FTSE will provide + 51% to major bookmakers, prompting intervention by the Competitive Markets Authority (CMA).

Further transaction dynamics suggest that the William Hill UK sale is taking place against the backdrop of a UK government gambling survey reassessing all industry standards and policies - regulatory outcomes could have a significant impact on the asset's valuation.

The £ 2.9bn acquisition of William Hill by Caesars was completed on 23 April, which equates to a purchase price of £ 272 per share following the company's delisting from the London Stock Exchange.

The NASDAQ-listed Nevada firm has always maintained that the sale of William Hill's European assets would follow an acquisition primarily interested in integrating the British company. US assets to strengthen its position in the burgeoning US online sports betting and gambling market.

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