The online gaming and betting firm, 888 Holdings, has slightly postponed its schedule for concluding the purchase of William Hill’s non-US operations to the second quarter of 2022. This represents a minor setback from the original goal of Q1 2022, as revealed in November.
The acquisition, which 888 secured in September 2021 for £2.2 billion (roughly $3 billion USD), will substantially broaden 888’s footprint in the internet gambling sector. This transaction will bring well-known William Hill brands under the 888 umbrella.
Prior to the deal’s completion, 888 must release a prospectus for a shareholder vote on the deal’s funding. To assist in financing the acquisition, 888 intends to generate approximately £500 million (about $675 million USD) through a share offering.
With all required regulatory clearances in place, the transaction should be finalized swiftly once funding is secured and shareholders approve.
Itai Pazner, CEO of 888, conveyed enthusiasm about the acquisition, stating that it will establish a “global online betting and gaming powerhouse” with a “robust foundation for expansion.”
A prominent wagering and entertainment firm, 888, is divesting itself of a pair of its bingo ventures. The transaction, valued at approximately $50 million USD, will witness the transfer of both the company’s customer-facing and business-oriented bingo divisions to Saphalata Holdings, an internet gaming enterprise headquartered in Gibraltar.
The agreement is projected to conclude in the second quarter of 2022, a bustling period for 888, which has already undergone substantial reorganization.
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