888 Holdings has agreed to buy William Hill's European business from its US owner in a deal worth £2.2bn.
888 said the acquisition would give it "significantly enhanced exposure to sports betting, the world's largest and fastest growing online segment, with the addition of an iconic sports brand".Mr Panzer added: "Our strategies are also complementary, being digitally led, customer focused, and committed to player protection and raising industry standards around safer gambling.
"Scale is increasingly important in our sector and the combination of the businesses will provide a powerful alignment of brands and technology."The owner of the famed Caesars Palace acquired William Hill in April for £2.9bn Tom Reeg, chief executive of Caesars Entertainment, said that he was "delighted" the firm had "found an owner for the William Hill business outside the US which shares the same objectives, approaches and longer-term ambitions of that business".888's takeover is still subject to shareholder approval, and it will also need to be given the go-ahead by the Financial Conduct Authority.
Source: News Formal (newsformal.com)
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