Caesars Entertainment has finalized its acquisition of British gambling operator William Hill.
Under the acquisition deal announced in September last year, Caesars agreed to pay £2.9bn ($4.04bn) to take ownership of the business, purchasing William Hill’s 1.08bn shares for £2.72 apiece.
At the time, Caesars stated that the target of the acquisition was William Hill’s US betting business and technology, with the remainder of the operator’s assets, including its UK arm, now set to be sold.
After the High Court of Justice in England and Wales this week sanctioned the acquisition, Caesars and William Hill were able to proceed with the transaction and completed the deal today (April 22).
The entire issued and to be issued share capital of William Hill, other than shares that were already owned by Caesars, are now owned by Caesars UK Bidco, the operating segment of Caesars that led the acquisition offer.