Caesars Entertainment received great news this week, as their proposition to take over William Hill operations was approved by shareholders. Above 81% of William Hill shareholders, holding more than 86% of the business’ share capital voted for the previously acquired £2.9 bn deal.
Acquisition to be completed in Q1 2021
The CEO of Caesars Entertainment Tom Reeg announced they are pleased to receive the support for their recommended offer. Moreover, he adds that they’ll continue to work towards completing the transaction early next year, complying with the remaining regulatory conditions and integrating W.Hill US into their iGaming franchise.
The union between William Hill and Caesars was already in the process. Caesars previously owned 20% of William Hill US, with sportsbooks in about a dozen Caesars casinos in a few states.
The British gaming provider was also the subject of are rival bid from Apollo Global, a private equity firm. However, Caesars said they’d abort all aspects of its joint venture with W.Hill US if Apollo’s bid prevail. Apollo officially withdrew their interest, but rumour has it they’re looking at Hill’s non-US business, which Caesars has already said it is looking to unload.
It’s been a fruitful and active Q4 for William Hill, and the best is yet to come. Days after the deal with Caesars was announced, William Hill was pretty busy in the US market. Here’s the official launch of their mobile app in Colorado and Illinois that happened within a week. This September, they partnered with ESPN and became official supporters of their fantasy sports products. This sponsorship will further help ESPN to place and deliver content in new, innovative and engaging ways.
Aspire Global enters the Russian Lottery market
Gaming supplier Aspire Global plans to expand into the Russian market through a partnership with Russian Lottery operator Sports Lotteries LLC. With this agreement, Aspire, with its BtoBet brand, will provide its account management module platform and access to lottery games on online and retail channels.
The deal will cover a 3-year period, with an option for further extension. It includes the provision of ten instant lotteries in the form of classic printed tickets for retail sale and five draw-based lotteries for both online and retail sales.
Aspire Global’s CEO Tsachi Maimon said they’re proud to be chosen as the tech partner od Sports Lotteries LLC. They’ll continue to grow and support Sports Lotteries in becoming a reference point and leader for the Russian Lottery Industry.
Ratmir Ronami, the project manager for Sports Lotteries LLC, said that this partnership represents a milestone for their company and a new era in how they operate on the market. He adds that they’re looking forward to adopting Aspire Global’s valuable insights and best practices. Moreover, this partnership will spark the popularity of lottery games in Russia, while also taking the industry to a whole new level.
Lottery games are highly popular in Russia, resulting in a £1.7bn in revenue for 2019. This October, Aspire Global acquired BtoBet in a £17.8 million deal. Executives from Aspire recently announced that this acquisition would provide the business with many opportunities for growth after Q3 results marked a 20% increase in gross revenue. This acquisition was described as a critical move towards the company’s growth plan.