Caesars closes on William Hill deal as it doubles down on sports betting business
Apr. 22, 2021 8:53 AM ETCaesars Entertainment, Inc. (CZR), WIMHYCZR, WIMHFBy: Clark Schultz, SA News Editor2 Comments
- Caesars Entertainment (NASDAQ:CZR) closes on the $4B acquisition of William Hill PLC (OTCPK:WIMHF).
- The company expects the deal to give it the ability to maximize the opportunity within sports betting and online gaming in the U.S.
- The combined companies currently operate sports betting in 18 jurisdictions in the U.S., an industry-leading 13 of which offer mobile sports betting. Caesars expects to be operational in 20 U.S. jurisdictions by the end of 2021.
- As previously disclosed, Caesars intends to sell the non-U.S. businesses currently owned by William Hill, including the U.K. and international online divisions and the retail betting shops.
- Caesars CEO Tom Reeg says the company is looking forward to announcing future sports partnerships that will drive long-term growth.
- CZR -1.35% premarket to $93.05.
- Source: Press Release
- Yesterday: BetMGM highlights huge iGaming and sports betting potential during investor event.