Caesars’ William Hill takeover finally expected by April 1

After initially launching their $3.7 billion takeover bid for William Hill six months ago in September 2020, one of New Jersey’s biggest and most respected online casino and sportsbook operators, Caesars is finally expected to close out the deal before the end of March 2021. Caesars and William Hill have set a Scheme Court Hearing date of March 30 as the final regulatory hearing to green light the takeover, ensuring the deal with be completed with full legal certainty.

In preparation for the U.S. merger, William Hill has given notice to the London Stock Exchange that it plans to delist its shareholding from the Financial Times Stock Exchange (FTSE) index on April 1, with the company canceling all of its FTSE share transactions by April 6. The board of William Hill will then publish a new scheme document to investors, providing full details of its first quarter timetable.

The move is set to make Caesars a significant online gaming industry player, and move away from its role as a land-based casino provider only. A recent market forecast expects that Caesars will see at least $600 million of online gaming gross revenue generated per annum by 2025. The forecast indicates that online sportsbooks and casinos will contribute to roughly 40% (Approximately $34) of the current Caesars share price of $93.44.

According to Macquarie online gaming industry, Chad Beynon, the William Hill deal will see Caesars poised to strike at its online sports book competitors;

“A successful integration of the (William Hill) US operations will put Caesars at a margin advantage vs. online peers, while we expect the company to achieve 10 percent online market share.” Beynon said.

Once the deal is complete, we expect to see Caesars moving fast and launching a lot of new product for online sportsbook enthusiasts.

According to another industry analyst, David Bain, Caesars’ purchase of William will shift the market quickly;

“From there (the takeover’s completion), we anticipate Caesars will highlight multiple partnerships and complete a rebranding of technology,” Bain said.

William Hill’s U.S. numbers already on the upswing

Unlike its slumping U.K. arm (down by 16% in 2020, built on street-based gaming shops across the U.K.), William Hill’s increased digital exposure in the United States (and New Jersey in particular) already sees the company turning around it’s s in the U.S. even before the Caesars’ deal has been totally finalized.

“Nonetheless, the momentum that built into the year end, driven by our Customer, Team, Execution strategic priorities, has been maintained into the first quarter of 2021. The US and Online continued to benefit from the product upgrades and the roll-out of our proprietary platform in 2020 and we saw staking during the Superbowl nearly double compared to last year,” said William Hill representative.

What the Caesars/William Hill Deal Means For NJ Sports Betting Fans

The merger between the two gaming industry giants should bring a more diverse selection of high-quality betting brands for New Jersey sports bettors. In the game of legal sports wagering since an amazing 1934, William Hill’s sports betting expertise in combination with cutting-edge technology adds another string to the Caesars gaming line-up.

Most importantly for existing William Hill customers, the joint company will offer access to Caesars’ industry-leading loyalty program. With more than 60 million members worldwide, Caesars Rewards offers its members access to a range of special promotions, discounts at casino gift shops, cash prizes, eliminating resort fees, free and discounted hotel stays, entertainment and meals at resort restaurants plus priority lines at hotel check-in, casino cashiers and even airline check-ins.

We will update you as soon as the takeover is complete.

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