{"id":224653,"date":"2020-09-28T13:59:41","date_gmt":"2020-09-28T12:59:41","guid":{"rendered":"http:\/\/www.fiveminutesspare.com\/news\/?p=224653"},"modified":"2020-09-28T14:01:31","modified_gmt":"2020-09-28T13:01:31","slug":"william-hill-may-be-taken-over-by-caesars-palace-for-2-9-billion","status":"publish","type":"post","link":"https:\/\/www.fiveminutesspare.com\/news\/william-hill-may-be-taken-over-by-caesars-palace-for-2-9-billion\/","title":{"rendered":"William Hill May Be Taken Over By Caesars Palace For \u00a32.9 Billion"},"content":{"rendered":"

Caesars entertainment, who own the popular Vegas casino Caesars Palace, have said they’re in advanced talks with William Hill regarding a takeover.<\/strong><\/p>\n

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Getty Images.<\/p><\/div>\n

The firm have said that William Hill have expressed interest in the deal of 242 a share, but have also had an offer from US firm Apollo. If William Hill accepted this deal, Caesars have said it would ruin a joint venture that the two companies have. Caesars currently have a 20% stake in William Hill’s overseas operations in America, and its believed are looking to expand from the 170 retail sites they have in 13 different states.<\/p>\n

Caesars chief executive Tom Reeg said: “The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a truly exciting prospect.<\/p>\n

“William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing US sports betting and online market.”<\/p>\n

After news broke on Friday that WH had recieved two takeover offers, the share price jumped by over 40%. They also announced, at that time, that the offers for the company were above the current share price, which was sitting in the low 200s.<\/p>\n

An Aviva investment expert has said that the 312 price per share it ended at on Friday after the big surge could cause potential investors to offer higher on the takeover.<\/p>\n

He said:\u00a0“The view is – and we do hold some William Hill so it has some interest here – the 40% rise on Friday, given comparative valuations in the US, it is possible that the bid comes in at a higher level than the closing price we saw then so there still might be some upside.”<\/p>\n

He also mentioned how the winning bid is likely to come from Caesars, as they own 20% in the US already, so theres some familiarity and trust there.<\/p>\n

Share prices have since dropped to 275 per share at the time of writing, but, thats still \u00a350 higher than the prices were when news broke of a potential takeover.<\/p>\n","protected":false},"excerpt":{"rendered":"

Caesars entertainment, who own the popular Vegas casino Caesars Palace, have said they’re in advanced talks with William Hill regarding a takeover. The firm have said that William Hill have expressed interest in the deal of 242 a share, but have also had an offer from US firm Apollo. If William Hill accepted this deal,…<\/p>\n","protected":false},"author":57,"featured_media":224681,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"footnotes":""},"categories":[34,5,6],"tags":[47,746,2003,71,101,43,179,156,1229,2002],"class_list":["post-224653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-uk-news","category-us-canada-news","tag-business","tag-business-news","tag-caesars-palace","tag-news","tag-uk","tag-uk-news","tag-us-news","tag-usa","tag-usa-news","tag-william-hill"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/224653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/comments?post=224653"}],"version-history":[{"count":1,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/224653\/revisions"}],"predecessor-version":[{"id":224682,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/224653\/revisions\/224682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media\/224681"}],"wp:attachment":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media?parent=224653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/categories?post=224653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/tags?post=224653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}