888 Holdings expects to complete the acquisition of William Hill in Q2 2022

888 Holdings expects to complete the acquisition of William Hill's non-US assets in the second quarter of 2022. This is also a change of plan from what it announced in November that it would be completed by the 1st quarter.

In its most recent update, the operator announced that it will publish a circular and prospectus for the acquisition and capital raise in the second quarter and that shareholders will vote to close the deal.

In its announcement last November, 888 indicated its primary goal is to generate £500m ($675.5m) of gross proceeds by launching new equity. In addition, they have entered the final stages of preparations for their acquisition of former FTSE250 retail and online betting and gaming operator William Hill last month.

Although they confirm that they have received all the required antitrust and gaming regulations, specific barriers remain, with the acquisition expected to be complete thereafter and subject to the satisfaction of any outstanding conditions.

Positive Change for 888 Holding

After a heated auction, 888 announced that it had entered into an agreement with Caesars Entertainment, owner of William Hill, on September 9.

The main deal is the acquisition of the bookmaker's non-US assets for £2.2bn.

The 888 CEO shared that this acquisition marks an exciting change in the history of 888.

This agreement will contribute to creating a leading online gaming and betting group in the world with an unsurpassed scale, distinctive branding, diversification, and a heavily fortified platform. strong."

In addition, 888 recently also agreed to sell its entire B2C and B2B bingo businesses to Saphalata Holdings for $50m.