Industry News
Caesar Sells William Hill – What Would That Mean For The Betting Industry
To understand the role of the three biggest companies in the betting industry, i.e., Caesar, William Hill, and 888 Holding Inc., you will have to go back to the years 2020. Well, in that year, Caesar, a giant casino company in the U.S., bought William Hill at £2.9bn to expand the casino business in the U.K. region. Moreover, Caesar Entertainment, who is well aware of the U.S. market, and most of the states also agreed for gambling, then why such a giant company sells out William Hill to 888 Holding Inc. Furthermore, what would be the future of the betting industry due to this deal? Well, some sort of questions was definitely popping up in your mind, and here you will get to know everything from scratch.
The Auction of William Hill
Last year, the auction process of William Hill was processed by Caesar Entertainment with an initial bid amount of £1.5bn. Still, the entry of three major companies in the race, i.e., Apollo Global, CVC Capital Partners, and 888 Holdings, took the bidding amount to £2bn. Interestingly, CVC Capital was quite sure to crack this deal because the company owned William Hill earlier. Likewise, Apollo Global was also at the top of the race chart, but twists and turns made 888 Holding the leading one, and finally, the company bought William Hill at the whopping price of £2.9bn.
What Next?
After the acquisition of William Hill, 888 Holding Inc., Management released the statement stating that it was a great deal that would give exposure to the betting industry, and the blend of online gambling together with 1,400 betting shops would be amazing.
The prime agenda of the 888 management is to give a safe gambling environment to the public and huge diversification of the gambling sector. Additionally, the 888 company is also planning to take advantage of the sports assets of William Hill by doing cross-marketing as 888 Holding itself deals on online sports betting sites. So, a new concept of cross-marketing will emerge that will be hugely applauded by the public.
888 Holding Inc – Winner of the Race
888 Holding is one of the major gaming and online platforms which offers a fair and secure gambling environment. The betting atmosphere covers online casinos, sports betting, online poker, and online bingo. 888 Holding Inc is a part of the 888 groups based in Gibraltar and is also listed on London Stock Exchange.
William Hill – At a Glance
The top three companies were in the race to acquire William Hill, but why is it so crucial for such companies? Well, this question may arise in your mind, so let’s see about this company.
William Hill laid the foundation stone of betting in 1934 with an aim to build a strong and secure betting market in the U.K. Since after the foundation, the company offered ample betting options, such as casino, poker, bingo, and others. In the present day, the company retains 1,400 betting shops which are handled by 12,000 employees. William Hill has now become a brand, and the streets around this company are always crowded. The company is also famous in the Internet as many sports fans around the world placed their bets online in William Hill using a VPN for the UK. This is one of the major reasons why the companies were rushing to acquire William Hill as they have don’t have to bother about the consumers.
Caesar Entertainment – The Company Sold William Hill
Now, you are very much aware of William Hill, and you may wonder why Caesar Entertainment sold such a big gambling company where it is getting consumers and ready to use gambling infrastructure? To know the answer, you must be familiar with the background of Caesar Entertainment.
Caesar Entertainment is the brand in the gambling industry in the U.S. that has spread its wings on other countries too. After getting success in the gambling industry, the firm initiated to give most of the luxurious services to the public and thus merged gambling and hospitality. In short, Caesar is also offering hospitality services which include resorts, and they are working under the sub-brand name of the company such as Horseshoe, Eldorado, and others.
Why Caesar Entertainment Sold William Hill?
William Hill is quite popular in sports betting, and Caesar was planning to expand its business by using its expertise. As the public in the U.K. are more fascinated with gambling, but as per the market, the USA was also the emerging gambling market where most of the states opened the door for the gambling companies. Intending to this, Caesar plans to focus more on the USA instead of the U.K. and thus planned to sell the stake of William Hill.
Now, it is very much clear about the twist and turns that took place amid the acquisition of William Hill. Moving ahead to the topic, you must know what the effect will be on the gambling industry. The takeover of 888 Holding Inc to William Hill will change the gambling scenario, and let’s see what the company has planned for the future.
888 Holding Inc Future Plan
After owing William Hill, the company is expecting to generate £100m yearly by using the William Hill assets and also by cross-marketing. Furthermore, William Hill was very much successful in the U.K. region, and retaining the same value will give good profit to 888 Holding Inc.
William Hill is a brand, and acquiring the same by 888 Holding Inc means a lot for its portfolio, especially in sports betting. Currently, no official from 888 Holding said about the future plan, but the authorities are taking this as a landmark and ready to expand the betting business.
Effect on Betting Industry
Acquisition of one company from the same domain to another is quite common in the financial market, and this is done to expand the business. Likewise, in the betting industry, the same thing has been done with the aim to provide ample betting services to the public in a secure environment. Now, with this William Hill evolution and the rise of Sbobet, the public will have much more options of where to place their bets. Undoubtedly, the acquisition symbolizes the rise of the gambling industry in the present era as the companies are giving much more to the public.
Bottom Line
The step taken by Caesar Entertainment to sell William Hill was justiciable as per the company’s view. Additionally, the acquisition of the same by 888 Holding Inc is also good for the gambling industry. In a nutshell, these companies get what they want; Caesar got a good amount against selling William Hill, and 888 Holding Inc’s plan became successful.
Industry News
LiveScore Group Announces Internal Restructuring as Part of Sustainable Growth Strategy
LiveScore Group has announced an internal restructuring process, expected to impact more than 100 existing roles across multiple business locations, including London.
The changes are seen as a difficult yet important step for LiveScore Group, streamlining the business to create improved structures and a pathway to long-term sustainable growth. All impacted employees have been informed and are now subject to a confidential consultation process.
Sam Sadi, CEO of LiveScore Group, said: “On behalf of all Directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people.
“Whilst we celebrate our recent period of significant and exciting growth, we must now future-proof the organisation and ensure our internal structures allow us to achieve long-term and sustainable success.
“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years.”
The announcement follows on from the recent news that LiveScore Malta Limited (part of LiveScore Group) is to withdraw its LiveScore Bet brand from the Netherlands following recent government tax increases in the market. The announcement includes those impacted by this. There will be no other customer impact in respect of any of the remaining LiveScore, LiveScore Bet or Virgin Bet sites globally.
Industry News
Pronet Gaming Appoints Alex Karaoulis as its New Commercial & Product Strategy Lead
Pronet Gaming, an award-winning platform provider of full turnkey solutions, announced the appointment of Alexandros Karaoulis as its new Commercial & Product Strategy Lead.
With over 14 years of experience in the iGaming industry, Karaoulis brings a wealth of knowledge and expertise that will be instrumental in driving the company’s strategic initiatives forward.
Throughout his iGaming career, Karaoulis has held various senior roles with B2B sportsbook and casino providers, as well as with B2C operators. His extensive background in marketing and sales within the iGaming sector positions him as a true industry expert, ensuring that Pronet Gaming remains at the forefront of innovation in a rapidly evolving market.
“I am thrilled to join Pronet Gaming and excited to fulfill my role in developing and executing sales strategies to drive the company’s revenue growth in key markets,” Karaoulis said.
With a track record in commercial strategies and driving product excellence, Karaoulis’ appointment is invaluable as Pronet Gaming now seeks to expand its footprint to Asia. His vision and deep understanding of the iGaming landscape equip him to navigate the unique challenges and opportunities that the dynamic region presents.
“I want Pronet Gaming to lead the iGaming revolution by providing innovative, culturally tailored solutions that cater to the diverse and rapidly growing demands of the region. Through strategic partnerships, cutting-edge technology, and a deep understanding of local markets, we aim to empower operators to offer world-class gaming experiences that engage players and drive sustainable growth,” he added.
According to Karaoulis, Pronet Gaming is poised to make a splash in Asia by leveraging its advanced technology, flexible platform solutions and deep market expertise while adapting to the unique characteristics of the region.
“The key differentiation point of Pronet Gaming is that we have B2C experience, which greatly aids in understanding the needs of operators and helping them to improve and execute their strategy according to the market. I have worked in B2C roles for more than seven years in my iGaming Career and managed campaigns across various channels, optimised conversion funnels, and learned to use data to improve player acquisition and retention,” said Karaoulis.
Karaoulis acknowledges that the marketing skills he has acquired from B2C experience are valuable in every B2B environment. As he dives into his new role at Pronet Gaming, Karaoulis aims to guide his operator clients on how to better market their own sites, including providing them with advice on effective acquisition strategies, content marketing and campaign structures that appeal to iGaming audiences.
“I also focus heavily on engagement strategies, loyalty programs, bonuses, and personalised offers to keep players active and returning. In my new B2B role, I will advise clients on best practices for player engagement, helping them adopt effective loyalty programs, personalised marketing, and retention tactics that drive player lifetime value to improve the end-player experience for our clients’ sites,” Karaoulis added.
Industry News
Vbet Wins Best Online Casino Operator 2024 at SiGMA Europe 2024
Vbet has been crowned the Best Online Casino Operator 2024 at the highly coveted SiGMA Europe event, cementing its position as a leader in the online gaming industry.
This achievement highlights Vbet’s commitment to providing an exceptional user experience by combining cutting-edge technology with a vast range of options and a secure process. The dedication to creating a responsible, enjoyable environment for players was recognised with this award, making this accolade even more significant. As Vbet continue to expand into new markets, the list of strategic partnerships grows alongside our constant drive to expand its offering. This award serves as a stepping stone on its path to reach more players and set new standards in the industry.
Arman Khachatryan, VBET’s Managing Director, said: “We are incredibly proud to receive the Best Online Casino Operator award at SiGMA Europe 2024. This recognition is a testament to the hard work, passion, and effort of our entire team. Our mission has always been to deliver the highest quality experience in the safest environment possible to our users. This award not only recognizes our dedication to this mission but also motivates us to continue expanding into new markets and territories.”
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