PRESS: Entain eyes tilt at unwanted William Hill assets - Bloomberg

(Alliance News) - Ladbrokes owner Entain PLC is mulling making an offer for some assets belonging ...

Alliance News 19 May, 2021 | 8:58PM
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(Alliance News) - Ladbrokes owner Entain PLC is mulling making an offer for some assets belonging to William Hill, which was recently acquired by Caesars Entertainment Inc, Bloomberg reported on Wednesday.

Entain Chief Executive Jette Nygaard-Andersen told Bloomberg that the company is "looking at whether this could be an interesting opportunity".

Earlier in May, the Telegraph reported that Caesars put unwanted William Hill assets up for sale. This included UK high street shops.

An Entain deal to buy the assets would further consolidate the UK gambling market. Bloomberg noted Entain has a 40% share of the market. The company also owns brands such as Coral, PartyPoker and Sportingbet.

As far as M&A goes, Entain has had a busy past few months. US casino operator MGM Resorts International in January opted not to make a firm offer for Entain, following a takeover tilt.

After fighting off takeover interest from its US partner, Entain has eyed making acquisitions of its own.

It made an offer to buy Swedish bookmaker Enlabs AB and has also eyed acquiring the wagering business of Australian firm Tabcorp Holdings Ltd.

Entain shares closed down 1.8% at 1,539.00 pence each in London on Wednesday.

By Eric Cunha;

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Entain PLC 918.20 GBX 0.77 -

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