The land-based and online casino and betting operator William Hill has just announced that it's about to acquire the highly popular Mr Green for approximately SEK 2.8bn (£242m). This deal should enable William Hill to expand its international business and lessen its dependence on the UK market, which has been undergoing strict regulatory changes of late.
Following the acquisition, William Hill will transform from a single brand that's highly focused on UK customers to a portfolio of brands with international appeal. According to its CEO Philip Bowcock, "This proposed acquisition accelerates the diversification of William Hill - immediately making us a more digital and more international business". Mr Green, who currently operates in 13 markets, will also provide William Hill with an international hub in Malta post-Brexit, and its experience with launching in new markets should prove extremely valuable for the UK-focused operator. "We were going to have to move our international operations out of Gibraltar and this gives us a ready-made home from them, and a ready-made home with some international expertise,” William Hill's CEO added.
Mr Green's board has unanimously recommended a share offer of SEK 69 per Mr Green share, and this price has been accepted by the buyer. The deal is set to increase William Hill's online revenue, which will now constitute 47% of the business as opposed to the previous 42%, while international revenues are due to increase from 14% to 21%.
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