Caesars Entertainment, Inc., on Thursday said it has completed its acquisition of William Hill PLC for approximately $4 billion.
According to a statement from Caesars, the transaction gives it ownership of one of the world’s leading betting and gambling companies, and gives it the ability to “maximize the opportunity within sports betting and online gaming in the US.”
The combined companies currently operate sports betting in 18 jurisdictions in the US, an industry-leading 13 of which offer mobile sports betting, Caesars officials said.
Caesars said it expects to have sports betting operations in 20 US jurisdictions by the end of this year.
William Hill members now have access to Caesars Rewards, including the ability to earn tier status that can be used at all the company’s land-based and online properties. Caesars said this combination enables the company to further enhance its services to customers by providing a single-wallet offering of sports betting and online gaming products across the enterprise in the future.
As previously disclosed, Caesars intends to sell the non-US businesses currently owned by William Hill, including the UK and international online divisions and the retail betting shops.
“We are thrilled to complete the acquisition of William Hill, combining two of the premier operations in the sports betting and online gaming industries under one roof,” said Tom Reeg, CEO of Caesars Entertainment (pictured). “We look forward to announcing future sports partnerships that will drive long-term growth.”
Deutsche Bank, Latham & Watkins, LLP, and Linklaters LLP represented Caesars Entertainment, Inc. on the transaction. Barclays Bank PLC, Citigroup Global Markets Limited, PJT Partners, and Slaughter & May represented William Hill.
