With the shareholder approval by 888, Caesars drew a step closer to completing the sale of its non-U.S. William Hill assets on May 16. The shareholders voted yes on the acquisition for £1.95 billion (US$2.34 billion).
The small 888 emerged as a surprise successful bidder last September. All but 0.3 percent of the shares favored the deal, according to iGaming Business.
“We are delighted with the support of our shareholders for our proposed acquisition of William Hill and would like to thank them for their continued, constructive engagement as part of this process,” said Lord Mendelsohn, non-executive chairman of 888 Holdings.
“We look forward to completing this transformational acquisition at the end of June, creating a global online betting and gaming leader through the combination of two highly complementary businesses and two of the industry’s leading brands.”
888 and Caesars reduced the purchase price by £250 million with the cash portion of the deal going for £584.9 million instead of £834.9 million. The change reflected U.K.’s review of the William Hill business license; the company set aside £15 million to cover expenses from this review.
