A merger between William Hill US business and Caesars Holdings it has emerged with both parties seemingly keen on a deal.
William Hill US already works with the new owner of Caesars Eldorado since 2018 servicing its sports book offering so they already know each other well and have grown in size because of it. Analyst’s believe that a merger of William Hill in the US with Caesars would generate an extra $700 million a year.
Not just that but it would also become a strong competitor to leader DraftKings in the sports business, so far DraftKings is valued at $13.5 billion, a merger with William Hill and Caesars would be valued at around $7 billion.
Caesars already has a 20% stake in William Hill US and so a merger would be highly likely, indeed William Hill CEO Joe Asher said to Bloomberg recently: We’ve been riding on their coattails as they’ve been growing. Clearly, we bet on the right horse.”
Eldorado CEO Tom Reeg said back in July that the company would like to gather their assets including sports betting into one entity.
William Hill currently has some 130 sports betting outlets in 13 states in the US with their current tie-up with Caesars/Eldorado.
Source: The iGaming Post