• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

William Hill approached by 888 and Rank for betting merger

UK wagering firm William Hill has been approached by rival gambling business 888 and Rank Group about a merger.

William Hill said it would "listen to and think about" any proposition.

However, it was not clear that a combination of William Hill, 888 and Rank would "deliver remarkable worth", the yohaig code said, external.

Online operator 888 and Rank, the UK's biggest gambling establishment chain, said they saw "substantial industrial reasoning in the mix".

William Hill stated the method was "highly preliminary", while Rank and 888 said they had not yet made a formal deal to the bookie's board.

Shares in William Hill increased 4.8%, while 888 shares increased 3.4% and Rank lost 0.5%.

'Surprise'

The relocation comes simply days after William Hill's president, James Henderson, was ousted from the UK's biggest wagering shop operator following a series of profit warnings.

Mr Henderson, who took the helm in August 2014, had actually failed to solve issues in the company's having a hard time online business.

In May, its latest trading update, the firm said, external net incomes had fallen 11% in its online department in the 17 weeks to 26 April.

William Hill's shares have actually dropped 21% since the start of the year, valuing the former FTSE 100 company at ₤ 2.7 bn.

David Jennings, an analyst at Davy, stated the news was "unquestionably a surprise, considered that the combined worth of 888 and Rank is ₤ 1.7 bn".

Rank and 888 stated there was "no certainty that any transaction will ultimately happen".

Rank's chief executive, Henry Birch, is a previous head of William Hill's online division.

Under UK takeover guidelines, the companies have till 21 August to either make a company offer or walk away.

The possible quote comes after William Hill attempted to get 888 last year in a ₤ 720m offer, however the deal collapsed after 888 turned down the bet9ja's welcome offer as too low.

Since then, competing wagering companies Ladbrokes and Gala Coral have concurred a ₤ 2.3 bn merger which received preliminary regulator approval in May.

The combined group would make it bigger than William Hill, currently the largest UK bookmaker based on number of shops.

Irish bookie Paddy Power and online operator Betfair also consented to sign up with forces last September.

Gambling industry bets on debt consolidation

William Hill and 888 end bid talks

Betting merger might depend on store sales

20 May 2016

Paddy Power Betfair to cut 650 tasks

5 April 2016