888 in Discussions with Ceasars to Buy William Hill UK Assets

It has been reported that betting and casino operator, 888, is in advanced talks with Caesars over the acquisition of William Hill’s UK betting shops. 

Caesars Entertainment is currently looking for a buyer for William Hill’s non-US assets which it acquired as part of its takeover of William Hill earlier this year.

In a statement today, it was suggested that 888 has seen off competition from Apollo Global Management and CVC Capital Partners for the UK assets and was in late stage discussions with Caesars. While a deal is yet to be finalised, Chief Executive of Caesars, Tom Reeg, has said that he wished to have the sale agreed on by the end of the year, displaying no want or need to operate in the UK. 

Talking at the time of the acquisition, he said: 

“One of my pet peeves when I was an investor was companies that didn’t know what they were good at, and I can’t tell you we’re good at running a non-US digital business,” Reeg said.

“I can tell you that there are almost certainly people out there that will do it better than us and see opportunity there. And I can deploy that capital into businesses that I know will drive better returns to shareholders. 

“We’ve not had a moment’s pause in terms of selling the non-US business.”

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