Business

Caesars, 888 Holdings cut deal value to divest non-US assets of William Hill

William Hill’s international assets now have an enterprise value of between £1.95 billion and £2.05 billion, the parties have agreed, compared with £2.2 billion at the time of the deal. announced last September.

Caesars is expected to receive net proceeds from the transaction at the close of ~585 million pounds.

In addition, Caesars is entitled to up to £100 million as deferred consideration subject to 888 Holdings Plc’s business expansion meeting certain 2023 financial targets.

William Hill was purchased by US-based Caesars Entertainment in a $4 billion deal last year. 888 proposed to buy William Hill’s non-US properties in September.

The transaction is expected to close in June 2022.

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