William Hill shareholders agree with Caesars' takeover offer
Most of the shareholders of the British bookmaker William Hill voted in favor of Caesars Entertainment, the American casino giant.
Overall, 81.3 percent (1,251 shareholders representing 86.6 percent of the shares) voted in favor of the £ 2.9 billion deal, which required a majority vote.
William Hill's board instructed shareholders to accept the offer.
We are pleased to receive the support of William Hill shareholders for our recommended cash offering. We are still working to meet the remaining regulatory conditions and look forward to completing the deal next year and integrating William Hill US into our Caesars sports betting and gaming franchise. Caesars CEO, Tom Reed.
Caesars will buy 1.08bn William Hill shares at £ 2.72 apiece. American casino tycoon makes a purchase to win American sports betting William Hill. The sale of the European part of the retail betting business is expected, for which several potential buyers have emerged.
Caesars expects to obtain all regulatory approvals by Q2 2021 and believes its expanded operations could bring in net revenues of up to $ 700 million in the next fiscal year. It has already received approval from the Austrian competition authorities.