According to a report from the Sunday Times, a deal between William Hill and Caesars had failed as the negotiations could not settle on a price. According to the agreement, the US gambling and casino giant would have acquired the top UK bookmaker William Hill. The strategic merger deal was being negotiated at £6 billion; however, it failed.
It is reported that the two companies had several rounds of talks and discussions about “a cash-and-shares deal.”
Following the stricter regulations in the domestic market, the UK Sportsbooks have been suffering in terms of revenue. As such, the British companies are looking forward to the US market as the US supreme court legalized sports betting.
The companies in the UK have been facing tough challenges after the UKGC reduced maximum stakes on FOBTs to £2 from £100. With the new FOBT regulation in place, William Hill revenue has also suffered.
The UK gambling commission has introduced a series of new measures making it difficult for local companies. Recently the UKGC introduced a mandatory verification to curb underage betting.
Previously, William Hill has been engaged in talks with several other companies over the merger deal. Earlier in August 2016, the company had rejected a joint bid from 888 Holdings and The Rank Group. Later, it also dismissed a £5-billion merger proposal from Canadian gambling giant Amaya (now The Stars Group).