Battle For William Hill's European Operations Down To Two Companies

888 Holdings, Apollo Capital Management Inc. Continue To Battle For William Hill's European Operations

Published on September 4th, 2021 5:53 pm EST

Another major acquisition is about to take place in the European gambling industry.

According to a report from Bloomberg.com, the race to acquire William Hill's European operations is now down to just two companies - 888 Holdings plc and Apollo Global Management Inc.

Earlier this week, CVC Capital Partners, which owns Tipico, reportedly dropped out of the race to acquire William Hill's European operations.

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Caesars Entertainment Inc. put William Hill's European operations up for sale after a few months after acquiring the entire company.

Caesars will reportedly be using the proceeds of the sale to help pay down debt.

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According to Bloomberg, 888 made the highest bid in the final round of offers, though both 888 and Apollo remain in negotations, and Apollo could end up turning in the highest bid.

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Apollo Global Management Inc. is a publicly traded "global alternative investment management firm" that currently has a value of around $15 billion.

The company currently has around $400 billion in total assets under management.

888 Holdings plc is a gambling firm that runs properties such as 888Poker and 888Sport.

The company currently has a market capitalization of around 1.5 billion pounds.

Source: Bloomberg.com - 888 Vies With Apollo for William Hill Assets as CVC Drops

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Filed Under: Other Poker News