In one of the gambling industry’s most significant groundbreaking moves, 888 Holdings has acquired William Hill International for $2.2 billion pounds (approximately $3 billion dollars). While 888 is a purely online casino company, this new acquisition spells its desire to foray into the brick-and-mortar betting industry.
The acquisition occurred on September 9th, 2021, but it will be some time until we see any noticeable changes in William Hill or 888’s business models.
News Highlights
- 888 Holdings acquired William Hill International for $3 billion dollars.
- Itai Pazner, 888 Holdings CEO, claims they will revamp brick-and-mortar William Hill locations.
- 888 Holdings has been an entirely online operation until this dramatic shift.
888 Plans to Acquire William Hill’s European Assets
888 is a well-known real money online casino founded by Israeli tech entrepreneurs. Still, this recent acquisition is a bold move showcasing the company’s willingness to branch out into the brick-and-mortar industry. 888 Holdings’ CEO Itai Pazner stated:
The acquisition of Willing Hill International is a transformational and hugely exciting moment in 888’s history.
Itai Pazner
According to the press statement released by Pazner, 888 will not only focus on improving William Hill’s online presence but revamp and renovate existing brick-and-mortar locations across the UK.
William Hill Gambling Trajectory
For UK customers, William Hill is a household name at the forefront of the gambling industry. Not many know that it also has significant operations in the US (namely Nevada).
Caesar’s Entertainment will retain control over William Hill’s online market and properties in the US. Their goal off the bat was to secure the US assets and sell the foreign market to buy down some of the debt.
The Coronavirus pandemic saw William Hill trimming its operations in the UK from 2,333 locations in 2018 to 1,400 today. The recent acquisition by 888 injects rejuvenation into the industry. It will hopefully propel William Hill as the leading face of European gambling once again.
What does 888’s Acquisition Imply?
The 888 acquisition, according to its leadership, will focus on William Hill’s digital operations. We can expect to see significant improvements in William Hill’s online gaming and its commitment to player protection. They will likely aim to raise industry standards in the face of increased scrutiny.
Scale is increasingly important in our sector, and the combination of the businesses will provide a powerful alignment of brands and technology.
Itai Pazner
It’s still unclear the full scope of 888’s plans as the intricacies and specifics of the deal are currently being ironed out. The full terms of the agreement should get finalized in early 2022, pending shareholder and Financial Conduct Authority approval.
We’re confident, though, that this will result in a lot of innovation and improvement to the retail brick-and-mortar sector.
What Can Gamblers Expect from This Acquisition
As previously mentioned, the CEO of 888 himself states that there will be a heavy focus on the online operations of William Hill.
Many customers feel that the gambling company has not put enough effort into its website, and it has subsequently been left in the dust by competitors. Gamblers can expect to see 888’s expertise in the digital sector shine in this new acquisition.
The Future of 888 and William Hill
We hope that William Hill sees a much-needed bolster after its COVID-19 pandemic downturn. Can 888 bring them back to days of glory?
After a $3 billion dollar groundbreaking move like this, the stakes are high, and we’ll be following the news closely as the story develops. Stay tuned to OUSC News for gambling industry updates and verdict on the financial success of the acquisition in the coming months.
