Caesars Acquiring U.K. Gambling Company William Hill for $3.7 Billion
Casino operator Caesars Entertainment (NASDAQ: CZR) has notched a win at the acquisition poker table. The company announced Wednesday that its bid for U.K.-based betting company William Hill has been accepted, and that it will be the new owner of that business. The purchase price is roughly 2.9 billion British pounds ($3.7 billion).
The deal comes amid the sharply rising popularity of online sports betting services like DraftKings. These businesses are benefiting from a combination of increased legalization of their activities and the coronavirus pandemic, which has caused more people to stay home, eager to participate in more entertainment options.
Image source: Getty Images.
Source Fool.com
