Home Business NewsBusiness Rank Group and 888 Holdings poised to buy William Hill

Rank Group and 888 Holdings poised to buy William Hill

by LLB Reporter
25th Jul 16 11:19 am

News comes after William Hill CEO quit last week

Gambling giants Rank Group and 888 Holdings are together planning to snap up William Hill.

William Hill confirmed today it has been approached but did not confirm whether the deal is going ahead or not.

“The board of William Hill would listen to and consider any proposal which might be forthcoming from the consortium,” it said.

“However, it is not clear that a combination of William Hill with 888 and Rank will enhance William Hill’s strategic positioning or deliver superior value to William Hill’s strategy, which is focused on increasing the group’s diversification by growing its digital and international businesses.”

The news comes after William Hill CEO Hames Henderson quit last week after disappointing growth of the bookies’ online offerings.

In a statement, 888 and Rank said: “The consortium sees significant industrial logic in the combination, through consolidation of their complementary online and land-based operations, delivery of substantial revenue and cost synergies and from the anticipated benefits of economies of scale, which will accrue to all shareholders.”

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