888 Holdings Gears Up for William Hill Acquisition in Early 2022

On September 9, 2021, gaming industry leader 888 Holdings released new information regarding their purchase of William Hill. They have been diligently preparing for a seamless handover. A crucial selection is seasoned 888 executive Guy Cohen, who will manage the integration procedure in close collaboration with the William Hill staff.

The agreement is still anticipated to be completed in early 2022, subject to the completion of a few remaining conditions. A significant obstacle has been overcome with the granting of all regulatory permissions.

888 intends to generate a sizable £5 billion (or $6.681 billion) through a share offering in order to fund the acquisition. This is a critical step that must be taken before the acquisition can be finalized.

Furthermore, 888 requires authorization from the UK Financial Conduct Authority to relist its shares, and the London Stock Exchange must give its blessing for trading to resume on the main market.

Last but not least, William Hill will undergo some internal reorganization, with its UK and US businesses being split up.

The head of 888, Itai Pazner, conveyed his enthusiasm for the agreement, indicating it would establish a worldwide online wagering and gaming leader. He stressed the remarkable scope, cutting-edge technology, and heightened diversification of the unified entity, all driven by a portfolio of renowned brands.

Pazner also mentioned Cohen’s designation, observing that it strengthens the executive team and underscores their dedication to this substantial undertaking. He is confident that capitalizing on the vast experience and expertise from both organizations will significantly benefit the amalgamated group.

Lastly, Pazner shared his contentment with the advancements made in the acquisition process, disclosing they are on schedule for a Q1 2022 finalization. He finished by expressing his eagerness for the future prospects that lie ahead for the combined strengths of these two robust and complementary enterprises.