US casino giant buys William Hill
William Hill’s £2.9 billion takeover by US casino giant Caesars Entertainment is set to go through this week after it was belatedly sanctioned by a court on Tuesday.
Caesars said it was “pleased to announce” the acquisition had been sanctioned and that it anticipated suspension of trading in William Hill shares would come into effect by Thursday.
Caesars has said it is only interested in the US arm of William Hill and intends to sell off the remaining parts of the business.
Private equity group Apollo Global Management, which was the main competition to Caesars for William Hill, is understood to be among the front-runners to buy the bookmaker’s operations outside the US, which would include both online and betting shop operations.