MAR 24 DE NOVIEMBRE DE 2020 - 18:06hs.
Acquisition would be completed by March 2021

William Hill shareholders approve US$3.7 billion Caesars takeover

Caesars Entertainment hopes to complete its US$3.7 billion acquisition of sports wagering giant William Hill by March after shareholders of the United Kingdom-based company approved the deal this Thursday (19). 'We are pleased to have received William Hill shareholder support for our recommended cash offer,” commented Caesars Entertainment’s CEO, Tom Reeg.

Each of the resolutions were approved by the requisite majority of shareholders, with over 86% of the votes cast at the meetings in favor of the transaction.

The parties are making progress towards obtaining all necessary regulatory approvals required to close the transaction and Caesars is now aiming to complete the acquisition in March 2021.

"We are pleased to have received William Hill shareholder support for our recommended cash offer. We continue to work towards satisfying the remaining regulatory conditions and look forward to completing the transaction next year and integrating William Hill U.S. into our Caesars sports betting and iGaming franchise," said Tom Reeg, CEO of Caesars Entertainment, Inc.

The transaction was announced in October and Caesars said it was “making progress” toward obtaining approvals of gaming regulators in the U.S. to close the transaction. The deal also needs approval by the English Court.

Through a previous deal, Caesars owns 20% of William Hill US, which 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.

Analysts have said the deal could add some US$2.5 billion in equity value to Caesars, which currently operates 54 gaming properties in 16 U.S. states.

Source: GMB