888 Holdings is poised to purchase the non-US holdings of William Hill for a substantial $3.03 billion, reaching an agreement with Caesars Entertainment, the current owner of William Hill.

This tactical maneuver seeks to merge two giants in the internet wagering and gaming realm, establishing a worldwide frontrunner with a considerably broadened scope. 888 views this acquisition as “revolutionary,” anticipating expedited revenue expansion and a more comprehensive, varied product selection.

The figures also present a hopeful outlook, with projected yearly pre-tax cost reductions of no less than $1.3 billion. Initial projections indicate combined earnings could exceed $2.5 billion, with adjusted EBITDA hitting $464 million.

Itai Pazner, Chief Executive Officer of 888, expressed his excitement, labeling the acquisition a “pivotal juncture” for the firm. He stressed the formation of a global online wagering behemoth, possessing remarkable scale, an attractive brand assortment, and a solid foundation for future progress.

Pazner further underscored the ideal partnership, noting that William Hill’s renowned sports betting brand enhances 888’s current strengths. He emphasized their mutual dedication to a digital-first, customer-focused strategy, prioritizing player safeguards and ethical gaming for a more secure gambling atmosphere.

We found William Hill’s executive team exceptionally remarkable. I anticipate collaborating with them and the wider William Hill staff to utilize their top-tier technology, strong brand recognition, and joint reach to deliver an even more enhanced customer experience.”

The transaction, contingent upon shareholder and regulatory consent, is projected to finalize in the initial quarter of 2022. Deutsche Bank and Linklaters are serving as financial and legal counsel to Caesars Group.

888 Chairman Lord Jon Mendelsohn further noted, “This presents a superb chance to merge our globally renowned gaming brands with a distinctive and legendary sports wagering brand to establish a global frontrunner in the online sports betting and gaming sector.”

“We are confident that this acquisition will generate substantial value for our investors. The unified entity will possess a premier technology platform, product and brand portfolio spanning sports wagering, gaming, and poker, and will be bolstered by an exceptional team assembled from both organizations.”