Latest News
The age of the M&A show is starting, William Hill to merge with Caesar
It comes as no surprise that once the proverbial cat is out of the bag, the news always prove worthy of chasing or digging deeper into.
Such is the case of the William Hill takeover by Caesars Entertainment Inc. This is not similar to the SBTech takeover by Draft Kings, but it seems that now large operators are taking charge and enforcing their share in the industry.
In my opinion, this takeover was bound to happen and there will be more coming as the large operators who have always been expanding, have also accumulated debt, and the current crisis hit them hard. Especially those dealing with retail.
William Hill has been struggling for a while now and we reported the news about their announcement that they have merged their UK retail and online businesses.
Back then, William Hill also announced that the gradual closing of its Gametek office in Sweden had already started to simplify its operating structures.
So, little over 3 weeks ago, news started appearing, CNN Business published an editorial in which it heralded that Caesars Entertainment is in talks to buy William Hill in a deal that would value the British bookmaker at £2.9 billion ($3.7 billion) and underscore the size of the opportunity in online gaming and sports betting in the United States.
Shares in London-listed William Hill surged 41% on Friday to £3.10 ($3.94) per share, after the company said it had received offers from both Caesars and private equity firm, Apollo, suggesting that a bidding war could emerge.
But the stock pulled back on Monday, tumbling 11% after William Hill said it was “minded” to recommend the Caesars offer to shareholders. Caesars said it would be entitled to terminate the US joint venture agreement if Apollo bought the company. (source: CNN Business London)
This is when it gets more interesting, 888 Holdings Shows Interest in William Hill’s European Business.
Even if Caesars Entertainment announced it has reached an agreement to acquire William Hill in a deal worth £2.9bn ($3.72bn), 888 CEO, Itai Pazner, suggested if an opportunity arose, the operator wouldn’t rule out expanding its business.
This is due to the fact that, Caesars Entertainment intends to focus on the US sports betting market and is seeking buyers for all William Hill’s non-US operations, including its UK and European businesses.
News outlets have reported that Caesars plans to sell William Hill’s UK and European branch networks, which have struggled before and during the pandemic under increased regulatory pressure to tackle problem gambling. William Hill announced the closure of 119 UK branches in August.
This certainly would be an interesting turn of events, and those free betting tips would reach new heights.
The takeover will give Caesars, the operator of the Caesars Palace casino in Las Vegas, access to the burgeoning US sports betting market.
Such headlines would have not been announce if the US market would not have opened up for the gaming industry, as we see the American way being played out in front of our eyes. This is something that is not typical to Europeans, and the essence is in the phrase: “Let’s throw money at it and make it work”.
This is the reason many venture capitals and global corporations, who in the past have never have tied their business to the gambling space are now jumping in on the global movement. And they mean business by committing huge amount of cash.
The era for the gambling industry to become the next tech industry where these M&A news are already old news.
It is just a matter of time until the gambling industry will reflect the Big Tech industries, where 4-5 mammoths control 99% of the industry.
Will we see the rise of Google-like gambling companies that will take over the industry, or will we see more rivalry and fair competition?
As I’ve mentioned above, the opening of the US gambling industry has brought so many potential powers into play, one can only wait and see what happens.
Certainly, the suppliers are standing with watering mouths as in such large companies, they can supply a whole chain which would be similar to working with maybe +100 smaller operators. In the Caesars/William Hill case, the winner is Evolution, as William Hill U.S. will use Evolution’s products everywhere it has a digital presence.
Initially, the solutions will be available in New Jersey, where Evolution has an iGaming studio in Atlantic City, before being rolled out to other locations. William Hill has a total of 113 race and sports gambling-related facilities across the country, including in Delaware, Florida, Indiana, Iowa, Mississippi, New Mexico, Rhode Island and West Virginia.
Given the merger with Caesars, this partnership might expand further.
Evolution has purchased NetEnt this year for around $2.5 billion, using money that came, in part, from a 97.5% increase in profit for the company over the first half of this year. Let’s see how this story unfolds and we are not at the end of 2020 yet.
Mark my words, 2021 will be full of surprises and we will see more M&A happening than ever before.
Latest News
7-Eleven selects Jackpot.com as their official lottery partner
Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.
Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts
Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.
As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.
“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”
By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.
Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.
To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.
eSports
The World Esports Summit 2024 Is Here!
The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.
This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the
Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.
The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:
- (R)Evolution in Esports
- East Meets West
- Esports Integrity: The Role of Referees
- The Rise of International Esports Competitions
- (In Korean) Korea’s Secret Sauce etc.
Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.
These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.
Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.
Registration for the World Esports Summit is free and open to all interested attendees.
To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration
See you in Busan!
eSports
Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference
Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience. As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.
Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.
Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .
“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.”
Looking ahead to ICE Barcelona, Akhil Sarin stated: “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”
He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”
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