Caesars promoting off non-US William Hill property

Caesars Leisure’s current buy of the UK operator William Hill got here with some additional baggage that’s simply not wanted when your purpose is dominating the US market. That extra baggage comes within the type of 1,400 retail betting retailers scattered all through the UK, and it’s set to be auctioned to the very best bidder within the coming months.

These retailers are a useful asset on their very own proper (they’re anticipated to fetch round $1.5 billion) however preserving them as a part of the Caesars Leisure household has by no means been a part of the plan. In spite of everything, there’s little or no retail sports activities betting within the US, and Caesars has its arms full with its personal land-based operations. However simply because Caesars doesn’t need William Hill’s non-US property, doesn’t imply that no one does.

In response to a report within the UK Telegraph, there’s no scarcity of potential patrons for the stays of the William Hill empire. The 2 high contender are Apollo World Administration and 888 Holdings. Apollo World Administration is a Wall Avenue buyout agency, whereas 888 Holdings is a well known, licensed playing operator run out of Israel by the Shaked household.

At present, Apollo World Administration appears to have a slight edge over 888 Holdings after simply getting beat out by Caesars Leisure to buy William Hill. Which means they’ve bought a substantial benefit over their rivals in terms of due diligence on the acquisition.

UK media can be reporting that BetFred fouder Fred Dunn, a billionaire in his proper, is taken with buying the William Hill retail property. However Dunn is taken into account to be an extended horse on this race.

Caesars Leisure was very clear from the start of their quest to buy William Hill that they’d solely be preserving the corporate’s US property.

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