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Caesars May Breakup William Hill to Sell in Pieces

caesars-may-breakup-william-hill-to-sell-in-pieces

 October 5, 2020

Less than a week after Caesars Entertainment purchased the British bookmaker for $3.7 billion, talk has already started that they will breakup William Hill and sell off pieces of the company.

Caesars seems clearly set to focus on the American assets of William Hill, saying that they will “seek suitable partners or owners” for the UK portions of the company. They estimate the U.S. sports and online betting market to be worth somewhere near $35 billion.

Analysts estimated William Hill’s non-U.S. assets could fetch Caesars between $2 billion and $4.5 billion. The company could put that money toward repaying its financial debts.

“It looks like a logical and natural move of consolidation of this round of U.S. brick and mortar players acquiring online knowledge,” Itai Pazner, chief executive officer of online gambling company 888 Holdings Plc, said in an interview on Wednesday.

You can read more on the possible breakup William Hill at Yahoo Finance.

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