It has been announced today that gaming and hospitality juggernaut; Caesars Entertainment, is currently eyeing up its finalisation options to acquire William Hill with a public offering of 30,000,000 shares of its common stock.
It is reported that the firm is also intending to offer a thirty day purchase option of an addition 4.5m shares of its common stock.
With net proceeds from such moves, Caesars is expecting to use the funds for general corporate purposes as well as the take-over of the entire issued share capital of William Hill plc.
Caesars Entertainment is currently the largest casino-entertainment company within the United States and one of the world’s most diversified casino-entertainment providers globally.
The joint lead book running managers for the offering are J.P. Morgan and Deutsche Bank Securities.
According to reports, the offering will be filed with the Securities & Exchange Commission and a preliminary prospectus supplement can be accessed via the website.
The corporation continues growth and expansion strategies despite the current global health crisis.
Caesars Entertainment’s resorts operate under the Caesars, Harrah’s, Horseshoe and Eldorado brand names.