ATLANTIC CITY, N.J. (AP) — Caesars Entertainment said Wednesday it is buying the British bookmaker William Hill for $3.7 billion in a deal aimed at binding its casinos ever closer to the fast-growing legal sports betting industry in the U.S.
Caesars said it is interested in the the company’s U.S. assets, and indicated it would seek to sell off William Hill’s assets in the United Kingdom and other countries.
“The opportunity to combine our land based-casinos, sports betting and online gaming in the U.S. is a truly exciting prospect,” Tom Reeg’s Caesars CEO said in a statement. “William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing U.S. sports betting and online market.”
The private equity firm Apollo Global Management Inc. had also been interested in acquiring William Hill; it remains to be seen if the firm