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The merger deal between William Hill and Caesars Entertainment has failed. The two companies held detailed discussions about “a cash-and-shares deal.” However, the discussions were aborted over price.
William Hill, the UK based bookmaker has already been struggling with ailing profitability, as its digital operation failed to pick up the momentum that its competitors in the field did gain and the FOBTs clampdown would only make things worse.
The shares of William Hill have plummeted since the company announced a pre-tax loss of £722 million for 2018, down from a £146.5 million profit in 2017.
William Hill had purchased online gambling group Mr Green & co AB for £242 million, earlier this year. The deal is hoped to help William Hill improve its digital performance. It has also secured the British bookmaker with a ready-made EU base once the UK leaves the European Union.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Caesars–William Hill Merger Deal Fails Over Price
