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It comes as no surprise that once the proverbial cat is out of the bag, the news always prove worthy of chasing or digging deeper into.
Such is the case of the William Hill takeover by Caesars Entertainment Inc. This is not similar to the SBTech takeover by Draft Kings, but it seems that now large operators are taking charge and enforcing their share in the industry.
In my opinion, this takeover was bound to happen and there will be more coming as the large operators who have always been expanding, have also accumulated debt, and the current crisis hit them hard. Especially those dealing with retail.
William Hill has been struggling for a while now and we reported the news about their announcement that they have merged their UK retail and online businesses.
Back then, William Hill also announced that the gradual closing of its Gametek office in Sweden had already started to simplify its operating structures.
So, little over 3 weeks ago, news started appearing, CNN Business published an editorial in which it heralded that Caesars Entertainment is in talks to buy William Hill in a deal that would value the British bookmaker at £2.9 billion ($3.7 billion) and underscore the size of the opportunity in online gaming and sports betting in the United States.
Shares in London-listed William Hill surged 41% on Friday to £3.10 ($3.94) per share, after the company said it had received offers from both Caesars