It has been announced following a shareholder meeting today that the shareholders of William Hill have approved the recommended take-over bid from Caesars Entertainment, which is a straight up 272p cash offer from the global casino and hospitality giant.
Subject to the satisfaction of outstanding regulatory conditions and English Court’s final approval, the acquisition will go ahead next Spring 2021.
The majority of shareholders approved each of the resolutions after more than eighty percent of the shareholders voted in favour of the transaction.
The acquisition is expected to close after both companies are reportedly making progress towards meeting all of the necessary regulatory approvals for such a deal.
Completion of the take-over of William Hill by Caesars Entertainment is expected to complete in March next year.
Caesars Entertainment, the largest casino-entertainment company in the United States, has stated that it is pleased the deal has the support of the William Hill shareholders and that the firm will continue to satisfy the remaining conditions.
As part of the deal, William Hill US will be integrated in to the sports wagering and online gambling franchise of Caesars.
CEO of Caesars Entertainment Tom Reeg spoke out about the news following the shareholder meeting:
“We are pleased to have received William Hill shareholder support for our recommended cash offer.
We continue to work towards satisfying the remaining regulatory conditions and look forward to completing the transaction next year and integrating William Hill U.S. into our Caesars sports betting and iGaming franchise.”