Gambling powerhouse Entain is the US assets that William Hill's new owner, Caesars Entertainment Inc., wants to vacate.
In a recent interview, Entain's CEO, Jette Nygaard-Andersen, said they plan to look into William Hill's UK and European operations and possibly submit a bid for them.
William Hill's non-US business includes UK and international online gambling operations, as well as a network of UK bookies. Caesars took over William Hill last month. With a £2.9 billion deal he bought.
The casino operator says the bookmaker will focus on growing the US unit and the rest. in He said he would sell. $2 billion in monthly debt pay. William Hill's non-US operations % of its sales in 80 .
Bids for the assets of the British bookmaker are expected to begin in the next two weeks. And Entain is a likely participant in a heated bidding war.
Lady. Nygaard-Andersen, who stepped in as the senior manager of Entain last January, “He's looking at everything, so it's definitely a part of it. interesting opportunity . ”
The gambling operator itself was an acquisition target late last year and early 2021. US casino operator MGM Resorts International submitted a bid for Entain in December, raising the bid to $05 billion in January, but The European firm rejected it as it was too low.
Other Potential Bidders
Entain owns the Ladbrokes and Coral brands in the UK, which consolidates the country's management biggest chain of betting shops . William Hill operates thousands of retail betting locations in the UK and their acquisition will significantly increase Entain's existing 40% share of the country's retail market.
However, such a deal could face intense scrutiny and eventual ban by UK competition authorities.
Entain isn't the only company that has recently taken an interest in bidding on some of William Hill's business.
Last October, Itai Pazner, CEO of online gambling operator 888 Holdings, met with the former bookie. they were potentially interested . It is not known whether the company retained this position after more than six months.
U.S. private equity giant Apollo Global Management, which got caught up in Caesars with the acquisition of William Hill, said it was interested in buying at least part of the company . Many believe that the bookmaker is the foremost player in the race for their non-US assets.
William Hill isn't the only acquisition target Entain has pursued lately. Late last month, the company took over the betting and media arm of Australian gambling operator Tabcorp. a revised offer of 3.5 billion A $ made.
Entain, Swedish online casino and betting group with a significant presence in the Baltic region Enlabs It was also in April when he bought it.
Source: Ladbrokes Parent Goes From Prey to Hunter in Casino-Merger Boom, Bloomberg, May 19, 2021