Caesars Entertainment’s long anticipated acquisition of UK betting firm William Hill will take place on April 1, according to a UK regulatory filing William Hill PLC made on March 10. The proposed deal is for $3.7 billion.
The deal was first struck in September 2020 and has cleared a number of legal and regulatory issues. In November 2020, William Hill shareholders approved the measure. In December 2020, Caesars announced it reached the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The Nevada Gaming Control Board approved a license on March 3 for Caesar’s takeover.
A hearing for approval by the English High Court is scheduled for March 30.
Caesars operates more than 50 gaming properties in 16 states and owns 20% of William Hill US, the British company’s American subsidiary through a previous deal.
Las Vegas-based William Hill US has more than 170 retail locations across 13 states and has a 29% market share of the U.S sports betting business. William Hill US operates 12 branded sportsbooks at Caesars’ properties in Nevada, Iowa, and New Jersey. William Hill will rebrand additional Caesars sports betting facilities and launch the Caesars Sports Book by William Hill mobile app in Indiana, Pennsylvania, New Jersey, and Nevada.
