William Hill is one of the biggest gambling operators to ever come out of the UK. In recent years, this company has seen a major drop in revenue and is now looking to be sold. Interestingly, several major groups seem interested in purchasing William Hill.
That includes Caesars, one of the world’s largest gambling companies. Many are surprised to hear that William Hill is looking for a buyer. Today, we’re going to talk about when this sale could come about.
Let’s get into it!
Lawmakers Continue to Ramp Up UK Gambling Regulations
The United Kingdom is well-known for having one of the largest gambling industries in the world. Many credit the growth of this industry to the relaxed regulations that lawmakers have implemented here. As the years have gone on, however, laws towards the country’s gambling industry have become more intense.
This isn’t entirely surprising. The United Kingdom is now dealing with some of the highest rates of gambling addiction in the world. Many have been complaining that the government is not doing enough to stop this trend.
Many new regulations have been set on gambling operators here since 2018. Most of these center on the types of advertising that gambling operators can offer. Some have also cracked down on land-based gambling machines in the country.
All gambling companies in the UK have been taking a hit with these regulations set in place. The country’s land-based gambling industry, in particular, has been losing an incredible amount of revenue over the past few years. William Hill has continued to reveal its losses over the past 12 months.
It now seems that William Hill could soon be acquired by a US gambling company.
Caesars and Apollo Are Interested in Purchasing William Hill
William Hill first launched back in 1964. Over the decades it’s grown to become one of the most successful gambling companies in the world. Today, it offers a wide range of both land-based and online gambling options around the world.
In 2019, lawmakers in the UK passed a law that requires FOBTs to limit maximum bets to just £2. In the past, these gambling machines could take hundreds of pounds in a single bet. Many felt this new regulation essentially killed the betting machine industry in the United Kingdom.
This certainly took a toll on land-based gambling companies. William Hill quickly released reports showing the massive toll these regulations took on the company’s land-based operations. Eventually, William Hill began focusing the majority of its operations on the newly-emerging US sports betting industry.
All of these groups now have until October 23rd to make this deal. It will be hugely interesting to see what happens over the next month. A purchase from Caesars would expand what is already considered one of the biggest gambling companies in the world.
Stay tuned for more updates on this potential purchase over the next few weeks.
Caesars Remains Focused on Expansion
There has been a tremendous amount of attention placed on Caesars over the last couple of years. Back in 2019, news surfaced that Eldorado Resorts was agreeing to purchase Caesars Entertainment for an incredible $17 billion. It was the largest merger between two casino companies ever made.
Of course, this deal took time to come together. Analysts predicted that it would be complete by the end of 2019. That did not turn out to be the case. Both companies needed to gain approval from the states they operated in.
Finally, this past July, the merger between these companies was complete. They kept the Caesars name and have now begun focusing on further expansion. It’s impressive when you consider how large this company already is.
There’s a lot happening in the US gambling industry. It now seems we could soon see Caesars purchasing William Hill. Expect more of these massive sales and purchases to take place over the next few months.
Do you think it’s smart for Caesars to buy William Hill? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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