Caesars Entertainment has decided to go ahead and accept 888 Holdings’ offer to purchase William Hill’s online casino in Canada as well as the company’s other non-US assets for more than $3 billion. The announcement comes on the heels of 888’s launch of a new sportsbook geared for the state of Colorado, which was done in partnership with a prominent sports media firm.
The CEO of Caesars Entertainment, Tom Reeg, stated that the transaction, which is still pending clearance from both regulatory authorities and the company’s shareholders, is anticipated to be finalized during the first quarter of 2022. The operator’s offer of $3.04 billion to the company is expected to result in the company receiving net proceeds of around $1.2 billion.
A Deal That Has Gone Down in History
Reeg expressed gratitude to the William Hill staff in a news release, praising them for their dedication and professionalism throughout their time working for the company and throughout the process of selling the non-US assets. He also stated his joy at having discovered an offshore owner who shares the same aspirations, methodologies, and goals as the William Hill online casino Canada and other businesses.
The Chief Executive Officer of 888, Itai Pazner, hailed the acquisition as a momentous and game-changing development for the operator. He went on to explain that the purchase would result in the formation of an industry-leading gaming and betting firm that possessed exceptional brands, scale, and diversification, in addition to a platform that fosters rapid growth.
New sportsbook in the state of Colorado
The operator had a busy month in September, during which they also made the announcement that SI Sportsbook would be launching. The new business, which will be run in conjunction with Sports Illustrated (SI), will be the first time that the media organization will be involved in online betting.
The Colorado sportsbook utilizes the SI brand while being powered by 888’s well-known technology. This technology is well-known to many gamers from online casinos in Canada who also like betting on sporting events. The sportsbook allows customers to place in-play wagers on a wide number of betting markets, including the English Premier League (EPL), the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), and the National Hockey League (NHL).
Yaniv Sherman, who was in charge of operations in the United States for the operator, expressed complete optimism on the launch. He stated that he believed the experience of sports betting given by the new site was set apart from many others, since it blends an influential media brand that has been there for almost 70 years with the operator’s powerful proprietary technology. He said he believed this to be the case.
People who enjoy gambling on sports in other parts of the United States shouldn’t feel too envious of those living in Colorado. According to the information provided, the operator has future plans to introduce SI Sportsbook in additional states.
The addition of online casino and poker games will reportedly be made available through the sportsbook, as confirmed by SI, according to reports. There was no information regarding when exactly that deployment would occur.