Following the appointment of its former SVP Head of B2C, Guy Cohen, as SVP Head of Integration, 888 Holdings has announced that subject to the satisfaction of remaining conditions, it will finalise the full acquisition of William Hill during the first quarter of next year. The execution of the deal is dependant on the UK Financial Services Authority’s approval of the readmission of 888’s ordinary shares and the London Stock Exchange’s approval of the readmission to trade on the main listed securities market. All necessary antitrust and gaming regulatory clearances are in place and 888 now expects to raise £500m ($668m) through the issue of new equity.This transaction will create one of the world’s leading online betting and gaming groups with superior scale, leading technology, increased diversification and a platform for strong growth, supported by a portfolio of iconic brands”
“This transaction will create one of the world’s leading online betting and gaming groups with superior scale, leading technology, increased diversification and a platform for strong growth, supported by a portfolio of iconic brands” Itai Pazner CEO 888 Holdings
888 Holdings CEO, Itai Pazner, said of the takeover: “This transaction will create one of the world’s leading online betting and gaming groups with superior scale, leading technology, increased diversification and a platform for strong growth, supported by a portfolio of iconic brands. The appointment of Guy Cohen also strengthens our leadership and commitment to this important process, as we look to leverage the significant expertise and talent from both businesses to benefit the combined group. I am delighted that we have now checked off a number of important milestones towards the completion of the acquisition. Given the strong progress we have made, we now expect the transaction to complete in the first quarter of 2022 and are excited about the opportunities ahead of us as we combine two powerful and complementary businesses.”
