888 shareholders approve £1.95bn acquisition of William Hill assets

888 shareholders approve £1.95bn acquisition of William Hill assets

Article brief provided by iGaming Business
  • Daniel O'Boyle, iGaming Business
May 16, 2022 9:37 PM
  • Daniel O'Boyle, iGaming Business

Shareholders of 888 have approved the operator’s acquisition of William Hill’s non-US assets from Caesars for £1.95bn [$2.40bn].

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888 agreed in September 2021 to acquire the non-US business of William Hill, soon after land-based operator Caesars acquired the entire William Hill business for approximately £2.90bn, with the intent to dispose of all but its US assets.

As the William Hill assets are larger than the current 888 business, the deal is considered a reverse takeover, and so must be approved by shareholders of 888.

Shareholders voted [Monday] on the proposed acquisition. In total, 307.0 million votes – representing 99.7% of voting shares – were cast in favour of the deal, with only 819,264 cast against.