Will Hill high street shops set for bidding war

Caesars Entertainment is reportedly set to put William Hill’s non-American assets up for sale in the coming weeks.

The Vegas giant bought the British high street stalwart in a deal worth just shy of £3bn last month, but is believed to be keen to offload the UK and European arms of the firm.

Deal insiders told The Telegraph, who first reported the news, that private equity giant Apollo is in pole position having already tried to buy the whole outfit last year.

Caesars is looking to focus on the fast-growing gambling market in the US, as states across the country liberalise long-standing anti-gambling laws.

The potential package would include 1,400 Willian Hill shops across the UK and could fetch as much as £1.5bn.

Israeli gambling firm 888 Holdings could be the fly in Apollo’s ointment, however, with boss Itai Pazner telling analysts last week it would consider a bid if Will Hill came on the market again.

Source: City A.M.

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