bbs

Online Gambling Firm 888 Soars On Deal To Pay Less For William Hill...

DelorisVenable3017 2024.10.22 11:04 조회 수 : 3

By Sinchita Mitra and Radhika Anilkumar

April 7 (Reuters) - British online gambling firm 888 will pay a smaller price to buy William Hill's international assets from U.S.-based owner Caesars Entertainment, the companies said on Thursday, citing changes in economic and regulatory conditions.

Shares in London-listed 888 soared nearly 30% after the British company also said it would have to raise less capital to partly fund the purchase.

Las Vegas-based casino operator Caesars bought British bookmaker William Hill in a $4 billion deal last year and agreed in September to sell William Hill's non-U.S.

assets to 888 for 2.2 billion pounds ($2.88 billion).

The purchase, 888's largest since listing in London nearly two decades ago, will give the online pure-play company access to William Hill's 2 million active UK customers and 1,408 betting shops across the UK.

The two companies have agreed that the assets now have an enterprise value of between 1.95 billion pounds and 2.05 billion pounds.

That means 888 will have to pay a cash consideration of about 585 million pounds, nearly 30% below the previously agreed 834.9 million pounds, 888 said.

William Hill is subject to an ongoing licence review by the UK's gambling commission and is addressing action points raised by the regulator in relation to its "social responsibility and anti-money laundering obligations", 888 said in the statement.

The review comes at a time when British businesses are facing rising inflation and consumers are struggling with a cost-of-living squeeze.

888, which has online sports betting, poker and casino platforms, said it now plans to issue up to 70.8 million new shares, which represents about 136 million pounds as of Wednesday's close, versus prior plans to raise about 500 million pounds.

Analysts at Jefferies said in a note they believe the deal "makes strategic and financial sense", adding that this will materialise in 888's balance sheet.

The acquisition is expected to be completed by June 2022.

($1 = 0. When you have just about any concerns concerning wherever as well as tips on how to employ บาคาร่าออนไลน์, you'll be able to call us on the web-site. 7642 pounds) (Reporting by Sinchita Mitra, Radhika Anilkumar and Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur and Uttaresh.V)

번호 제목 글쓴이 날짜 조회 수
1891 Betting On Mma - Understanding Lines And Odds Clyde5780549653311 2024.10.24 8
1890 Using Video Replays To Handicap Horse Races Will Make You Money ElizaG8045581801113 2024.10.24 32
1889 Understanding Betting Odds To Strike Them ElizaG8045581801113 2024.10.24 3
1888 Money Management In Sports Betting LashawndaNicolay0 2024.10.24 68
1887 Online Sports Betting Sites: Top 7 Signs Found In A Fake MelissaSigel2734 2024.10.24 73
1886 Using Four Mega Strategies Like The Pros FlorianLabonte335 2024.10.24 3
1885 Answer Into The Funds Crunch With Secured Personal Loans OmarMelendez9206850 2024.10.24 14
1884 5 Quick Water Damage Tips Avery5142292916479 2024.10.24 14
1883 How Reduce Your Roof Repair Cost PhillippWills9547 2024.10.24 9
1882 Home Improvement Loans Or Rehab Loans - Many Loan Products To Select From BradlyKang69668 2024.10.24 7
1881 Online Horse Racing Game VeraPicot35003452 2024.10.24 3
1880 How You Can Win Buddies And Influence People With Sportsbet Soccer JamilaHerrell34267 2024.10.24 243
1879 Basement Waterproofing - Anyone Consider Learning It Yourself? ShellieBruce328317 2024.10.24 6
1878 Online Poker From Property Is Just As Much Fun LashawndaNicolay0 2024.10.24 343
1877 Is Grass Fed Meat A Healthier Option? MammieRasco50108 2024.10.24 9
1876 Professional Gambling - How To Be A Professional Blackjack Player ElizaG8045581801113 2024.10.24 175
1875 Title: Innovative SEO Demystified: Everything You Need To Know For Homepage Services ReginaSkuthorp3641 2024.10.24 245
1874 Advice On Hiring A Limo Rental MadelineWhitham772 2024.10.24 11
1873 Save Money By Having These Basic Plumber Tools LillieCarter769179 2024.10.24 5
1872 Six Methods To Reinvent Your Sports Betting MayraJjd46638068 2024.10.24 5