In Q2 2022, 888 plans to complete the acquisition of William Hill

The acquisition of William Hill’s non-US assets by 888 Holdings is expected to be completed in the second quarter of 2022. This differs from a November release in which the business predicted a Q1 completion date.

In its most recent update, 888 stated that in the second quarter, it will publish a combined circular and prospectus for the acquisition and capital raise, followed by a shareholder vote to finalize the deal.

The capital raise was announced in November, when 888 indicated its aim to raise £500 million ($675.5 million) in gross proceeds by issuing fresh equity.

These few hurdles remain after receiving all mandatory antitrust and gaming regulatory clearances, with the transaction expected to close shortly after that, subject to the fulfilment of any outstanding conditions.

On September 9, 888 announced that it had reached an agreement with Caesars Entertainment, the owner of William Hill, to purchase the bookmaker’s non-US assets for £2.2 billion, following a heated auction.

“The acquisition of William Hill International is a transformational and enormously exciting event in 888’s history,” 888’s Chief Executive Itai Pazner said at the time.

“With superior size, excellent brands, increased diversification, and a platform for robust growth, this merger will create one of the world’s leading online betting and gaming businesses.”

888 has agreed to sell its entire B2C and B2B bingo activities to Saphalata Holdings for $50 million. The deal is also expected to close in Q2 2022, adding to the company’s already hectic three-month period.

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