WILLIAM HILL’S NON-US ASSETS TO SPARK ANOTHER ENTAIN VS APOLLO BIDDING WAR?

British gambling giant Entain is reportedly considering a bid for William Hill’s non-US assets. 

Last month, William Hill was acquired by US gaming superpower Caesars Entertainment in a $4B USD deal. However, Caesars has made it clear it was only ever interested in retaining the iconic British bookie’s US assets, and will look to sell the rest to help it pay down its $2B debt mountain.

According to Bloomberg, Entain, which owns brands including Ladbrokes and Coral, is now contemplating attempting to acquire William Hill’s UK and other non-US assets. Though such an acquisition would give Entain a massive market share, especially in the UK, it could well run into regulatory hurdles precisely because of that. 

US private equity firm Apollo Global Management, is also thought to be interested in acquiring some of William Hill’s assets. As previously reported, Entain and Apollo are both also attempting to acquire Tabcorp wagering and media assets in Australia. 

Although Entain is thought to be the front runner in the Tabcorp battle, things could be tighter in the William Hill war, with reports suggesting Apollo is currently favourite. Industry sources also suggest that Betfred could be interested in acquiring William Hill assets from Caesars, which could lead to quite a fight. 

Staying with Entain’s spending spree, the company also recently acquired Swedish betting firm Enlabs AB.