Caesars Entertainment, the Las Vegas casino-owner, has agreed a £2.9bn deal to take over William Hill.
The US firm, which owns Caesar’s Palace in Las Vegas, is particularly interested in William Hill’s US bookmaking business which currently has 170 retail sites in 13 different states.
Roger Devlin, chairman of William Hill, said: “The William Hill board believes this is the best option for William Hill at an attractive price for shareholders.”
Caesars chief executive Tom Reeg said: “The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a truly exciting prospect.”
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