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
Dutch Mental Health Care Calls for Total Ban on Online Gambling Advertising
The Dutch mental health service is calling for a total ban on online gambling advertisements in the Netherlands.
Although a ban on untargeted gambling advertisements and a ban on the use of role models has been in effect since 2023, a recent research by KRO-NCRV’s Pointer shows that (illegal) gambling companies and sports tipster platforms are still enticing young people via social media such as TikTok and Snapchat.
By using influencers and terms like “free money”, they try to attract a young audience and thus lower the threshold to start gambling. This concerns both legal online casinos and online casinos that do not have a license in the Netherlands. The Gaming Authority has started an investigation based on Pointer’s findings.
Pointer’s research shows that part of the gambling industry deliberately targets young people who are often susceptible to promises such as “fast money” and the influence of role models. Ruth Peetoom, chair of the Dutch mental health service, compares this approach to that of the tobacco industry, where similar marketing strategies were used to get young people to smoke.
Despite the existing advertising ban, gambling companies continue to explore the boundaries of the law, according to Peetoom. The Dutch mental health and addiction care associations in the Netherlands therefore push for a total ban on online gambling advertising and stricter rules for the duty of care of gambling providers.
With the call for a total ban, the Dutch mental health care sector hopes to prevent further normalisation of gambling behaviour among young people and to protect them from the temptation and consequences of online gambling.
Compliance Updates
UKGC: Market impact data on gambling behaviour – operator data to Oct 2024
The Gambling Commission has published further data on the gambling industry in Great Britain.
This data, sourced from operators, reflects the period between March 2020 and September 2024, inclusive, and covers online and in-person gambling covering Licensed Betting Operators (LBOs) found on Britain’s high streets.
Comparison should not be made with the industry statistics dataset, as this dataset may include free bets and bonuses and does not include data from all operators.
This release compares Quarter 2 (Q2) of financial year 2024 to 2025, with Q2 of 2023 to 2024, looking at how the market has changed in comparative periods over a year.
The latest operator data shows:
- online total Gross Gambling Yield (GGY) in Q2 (July to September) was £1.32 billion, an increase of 11 percent from Q2 the previous year. The overall number of total bets and/or spins increased 12 percent Year-on-Year (YoY), reaching a new peak for the third consecutive quarter of 25.2 billion, whilst the average monthly active accounts2 in the quarter increased 8 percent
- real event betting GGY increased by 6 percent YoY to £453 million. The number of bets decreased 10 percent, while the average monthly active accounts in Q2 increased 9 percent
- slots GGY increased 16 percent to £680 million YoY. The number of spins increased 13 percent to 23.3 billion while the average monthly active accounts in Q2 increased 16 percent to 4.4 million per month. Although this is a new peak for GGY in this dataset for the slots vertical, it should be noted that one operator has re-classified some of its products into the slot vertical this quarter, which has had an impact on the vertical data
- the number of online slots sessions lasting longer than an hour increased by 9 percent YoY to 10 million. The average session length remained at 17 minutes. Approximately 6.1 percent of all sessions lasted more than one hour compared to 6.6 percent in Q2 the previous year. The number of spins per session has fallen from 147 to 142 YOY, whilst the GGY per session has fallen from £4.20 to £4.13 in the equivalent timeframe
- LBO GGY decreased by 1 percent to £533 million in Q2 2024 to 2025, compared to the same quarter last year, while the number of total bets and spins decreased by 0.1 percent to 3.1 billion.
Industry News
Petra Maria Poola Joins Xace as Group Commercial Director
Xace has announced that Petra Maria Poola has joined the company as Group Commercial Director.
Petra brings a wealth of experience from the iGaming industry having formerly held roles at several iGaming companies such as Yolo, Relax Gaming and SiGMA. She will lead the commercial growth of Xace and its group companies, including crypto and iGaming focused xda.io, helping to drive strategic initiatives across banking, fintech and iGaming solutions.
In her new role, she will mainly oversee the growth of the group’s sales, marketing and account management functions, ensuring a cohesive strategy that supports Xace’s ambitious expansion plans.
“I am incredibly excited to start this new chapter with Xace, and work alongside such a talented team and management. Transitioning into the fintech space, while still connected to iGaming, presents an exciting opportunity for growth and learning. I’m looking forward to applying my expertise to help Xace and its group companies achieve new heights commercially, while gaining deeper insights into the fast-evolving world of fintech,” said Petra Maria Poola.
Reuben Abel, CEO of Xace, said: “Petra’s extensive background in the iGaming sector, combined with her commercial acumen, makes her a valuable addition to the Xace team. She will play a crucial role in expanding Xace’s market presence and enhancing its suite of services tailored to the specific needs of the iGaming and fintech industries.”
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