Caesars, 888 Holdings cut deal value of William Hill’s non-U.S. assets
2022.04.07 10:17
FILE PHOTO: Signage is seen outside a William Hill betting shop in Manchester, Britain, September 9, 2021. REUTERS/Phil Noble
(Reuters) – British gambling firm 888 Holdings and U.S.-based Caesars (NASDAQ:CZR) Entertainment cut the deal value of William Hill’s non-U.S. assets due to tough economic conditions and regulatory probes, the companies said on Thursday.
William Hill’s international assets now have an enterprise value of between 1.95 billion pounds ($2.55 billion) and 2.05 billion pounds, the parties agreed, compared to 2.2 billion pounds when the deal was announced in September last year.
William Hill was bought by U.S.- based Caesars Entertainment in a $4-billion deal last year. 888 proposed to buy William Hill’s non-U.S. assets in September.
($1 = 0.7642 pounds)
