It was back in April 2021, when Caesars Entertainment bought out William Hill in a $4 billion deal, and since, Caesars made the decision to sell off all operations outside of the US.Hot on the heels of 888 Holdings, Betfred and Apollo Global Management are German Sports betting firm Tipico, the latest company rumoured to be interested in acquiring William Hill’s UK and European operations.
‘Credible Offer’
Sources at Sky News last Thursday said William Hill have been presented with a ‘credible’ offer by Tipico, who is owned by international private equity firm CVC Capital Partners. Advent International along with Entain had previously shown interest but have since declined to submit an offer.According to analysts, an estimated takeover price for William Hill’s non-US operations stands at offers above £1.5 billion. William Hill was acquired by CVC and Cinven in 1999 for £825 million and three years on floated the company on the stock market.
Tipico
Tipico is Germany’s largest sports betting company with its main headquarters in Malta and offices in Colombia, Austria, Croatia, and the US. William Hill currently operates around 1,400 retail outlets in the UK, and has the largest European footprint with a major presence in markets such as Italy and Spain.Tipico is an international sports betting group that launched its first betting website back in 2005 and in 2011 launched its betting app where customers were able to place bets via a mobile device on more than thirty different sports. Tipico also operates 1,200 retail outlets, so along with its website, mobile app and retail outlets its players have 24/7 access to betting whether at home or on the go.