William Hill has been the talk of the casino industry for the past week. 888 Holdings and the Rank Group recently confirmed that the two gambling operators are currently in talks over a merger. It has now come to light that the two casino operators will jointly bid for William Hill, one of Britain’s leading bookmakers. This follows reports that William Hill CEO, Mr James Henderson has resigned as the casino’s CEO. There has been some speculation that he was fired for losing to online rivals.
888 and Rank Comments on Plans to Merger and Bid for William Hill
If this deal goes through, the deal between the three gambling operators will see to the merger of the biggest online gambling operator, Britain’s top casino and bookmaker. Speaking about the planned merger 888 and Rank Group issued a statement that said the Consortium sees it fit to combine forces of their online and land-based operations. The two companies further added that they have not yet made any formal contact with the William Hill group regarding their plan to bid for it. The statement stipulated that there is no guarantee that such a transaction will take place.
888 and Rank Group Remain Mum on William Hill Bid
888 and Rank Group have their lips sealed in terms of discussing their supposed plan to jointly bid for William Hill. There have been several reports that have speculated the gambling operators intend on placing a 3 billion pound bid for William Hill. A spokesperson from the Rank Group has reportedly declined to comment on whether they intend to pursue the William Hill bid. According to British takeover rules, the two gambling operators have until the 21st of August 2016 to make a formal offer to William Hill. If they have not made any formal approach by this date they will have to walk away from the potential bid.
