888 Holdings’ shareholders have voted to approve the company’s acquisition of William Hill’s non-US assets.
Last year, Caesars acquired the entire William Hill business for £2.90 billion but announced its decision to sell the company’s UK and European assets. In September, mobile gambling operator 888 agreed to acquire said assets.
However, the shareholders of 888 were required to approve the acquisition because the UK and European William Hill assets are larger than 888 Holdings, making the acquisition a “reverse takeover”.
Earlier this week, the company’s shareholders voted 99.73% in favour of the acquisition, while a total of 0.27% voted against the acquisition.
The takeover is expected to complete “on or around” June 30th, 2022, alongside the re-admission of 888’s share capital for listing on the premium listing segment of the Financial Conduct Authority’s (FCA) official list and to trade on the London Stock Exchange (LSE) main market.
Lord Mendelsohn, the Non-Executive Chair of 888, said in a statement via SBC News: “We are delighted with the support of our shareholders for our proposed acquisition of William Hill and would like to thank them for their continued, constructive engagement as part of this process.
“We look forward to completing this transformational acquisition at the end of June, creating a global online betting and gaming leader through the combination of two highly complementary businesses and two of the industry’s leading brands.”
The news comes after Playtech launched its Safari Riches Live casino game with 888 Casino and after Pragmatic Play announced an agreement with the operator to create a dedicated live studio for the company.