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Caesars Entertainment’s William Hill Acquisition: strategic move for the US market?

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Caesars Entertainment’s William Hill Acquisition: strategic move for the US market?

 

Caesars Entertainment’s offer for the William Hill acquisition, which began months ago, would see the company pay $376.15 for a single share which, according to Chairman Roger Devlin: “The William Hill board believes this is the best option for William Hill at an attractive price for shareholders”, as well as: “It recognizes the significant progress the William Hill Group has made over the last 18 months, as well as the risk and significant investment required to maximize the US opportunity given intense competition in the US and the potential for regulatory disruption in the UK and Europe”.

However, the offer needs antitrust and gaming regulatory approvals which Caesars is certain to secure.

Caesars will use existing cash, $2.0Bn of new non-recourse debt facilities, which it intends to secure against William Hill’s non-US businesses, such as on the Italian gambling market, as well as the proceeds of an equity capital raise.

Is Caesars the only bidder?

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William Hill recently explained that after an initial proposal by Apollo Global Management received on August 27th, the online betting and gambling sportsbook then received another offer from Apollo, while Caesars made its own offer.

However, Caesars’ has a 20 percent stake in a joint venture struck by Eldorado Resorts with William Hill, which holds 80 percent, and has already stated that any William Hill acquisition agreement with Apollo Global Management would terminate William Hill’s rights to manage online sports betting operations through Caesars’ marketplace, retail sports betting at both Caesars’ and other casino properties in the United States.

New opportunities with the William Hill acquisition

Should Caesars be successful with the William Hill acquisition, it said it will go after improving the customer experience and maximizing the opportunity in the gaming and sports betting industry now that the US markets are opening up for the online gambling world.

Caesars also claims that a combined business with William Hill would help improve services for the U.S. customer base, increase its in-country market presence as well as provide a unified customer experience by consolidating portfolios and applications. The deal would give Caesars a great portfolio of assets and access to existing relationships with events and teams, including being the exclusive casino partner of the National Football League.

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Should the William Hill acquisition prove successful, the company will also gain access to Caesars’ loyalty program, which would benefit loyal customers from both companies.

As Caesars’ Chief Executive Tom Reeg stated, the sports betting expertise of William Hill will complement Caesars’ offering, enabling the combined group to better serve their clients in the growing US sports betting and online market.

Mr. Reeg also added that they look forward to working with William Hill, and that they aim to support future growth in the US by providing customers with a comprehensive experience across all areas of gaming, sports betting and entertainment.

Reasons why the William Hill acquisition is taking so long

The reason behind the acquisition taking this long is that GMV and then HBK (at March 31 UK Scheme Court hearing) argued against the deal, and through a letter to the William Hill shareholders they stated their opposition is based upon their belief that shareholders voting on the Scheme did it without all the necessary information that would have allowed them to weigh up the whole agreement.

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They also said that it is their idea that the terms of the joint venture agreement entered into between William Hill and El Dorado (now Caesars) dated 6 September 2018 were not fully disclosed by William Hill.

What are GMV’s and HBK’s claims?

HBK and GMV are claiming a lack of transparency related to the list of potential buyers for the William Hill acquisition that the US-based company could consider “restricted”. At the EGM/Court meeting, after being questioned by HBK, William Hill has revealed that there can be a maximum of six names on the list, and Caesars can replace one name every six months.

HBK mentioned that Caesars is moving to include private equity firm Apollo Global Management in this list. The Harrah’s operator has publicly warned William Hill against accepting Apollo’s offer, saying it could effectively end the U.S. deal with Caesars.

When should the agreement be finalized?

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Caesars had previously hoped to complete the William Hill acquisition during the second quarter of 2021, and an update published on the 10th of March suggests this timetable should be correct.

William Hill added that Caesars expected to receive all the remaining approvals from the relevant US authorities and other gambling regulators before the end of March of 2021. They also had scheduled a Scheme Court Hearing on the 30th of March, at which the court will be asked to sanction the acquisition. The idea was that if Caesars Entertainment Inc. and William Hill satisfied all the conditions, and the court approved the deal, the acquisition was expected to be completed on the 1st of April with William Hill’s shares cancelled on the 6th of April 2021.

International News

Bragg Gaming and Light & Wonder Agree to an International Distribution Deal

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Bragg Gaming and Light & Wonder Agree to an International Distribution Deal

 

Collaboration will see Bragg content featured on Light & Wonder’s ecosystem

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced it has signed an international online casino content distribution agreement with Light & Wonder.

The agreement will see high-performing games from Bragg’s proprietary studios, Atomic Slot Lab, Indigo Magic, Wild Streak Gaming and Spin Games added to Light & Wonder’s online ecosystem.

Exclusive content from the supplier’s Powered by Bragg partners will also be integrated, providing Light & Wonder with a wide selection of highly localized and unique titles.

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The deal will encompass numerous European regulated markets as well as the USA and Canada, significantly growing the reach of Bragg’s content to new audiences and strengthening the supplier’s casino offering with new titles.

Matevž Mazij, Chief Executive Officer at Bragg Gaming Group, commented: “Light & Wonder is a world-leading platform and games provider, and this distribution deal will be hugely beneficial for us,  as our content will be in front of new audiences through its large operator network boosting exposure of our games.

“We have focused on strengthening our content portfolio over the last year and this partnership is a testament to the popularity and appeal of our games which have been proven successful in markets globally.”

Steve Mayes, Senior Director Digital Partnerships at Light & Wonder, said: “We are thrilled to be working closely with Bragg, and are looking forward to offering their content across our network. This deal is a great showcase for the power of our aggregation platform and global scale. We already have a number of key operators lined up to launch Bragg games and excited to further expand our portfolio of games partners.”

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WA.Technology Announces Global Alliance with Lottery.com

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WA.Technology, a leading B2B iGaming solutions provider, is delighted to announce its alliance with leading online lottery brand Lottery.com. The announcement was made at ICE London 2024.

The agreement and the combined operational partnership mark a significant step in WA.Technology and WA.Lottery’s expanding reach into new markets and Lottery.com’s global growth strategy across Africa, the Pacific Region, Brazil, and other parts of Latin America.

Under this alliance, WA.Technology will extend its full spectrum of iGaming platform solutions and manage daily operational activities to support Lottery.com’s expansion. This will encompass a range of services, including affiliate and lead generation strategies, comprehensive legal services, compliance, regulatory, and financial management. The aim is to maximise Lottery.com’s earning potential in global markets over the coming years.

The agreement comes when the global lottery industry is witnessing substantial growth, driven by the increasing popularity of mobile and online lottery sales. WA.Technology, with its leading WA.Lottery solutions, assist existing and new lottery operators in capitalising on new opportunities in their target markets.

Tim Scoffham, CEO of WA.Technology, expressed his enthusiasm, stating, “This is a fantastic step in the journey of WA.Technology, and we are excited to be on board with this esteemed lottery brand. We love their vision for creating a global destination for lotteries and are thrilled that Lottery.com has chosen us to be their operational partner. With over 200 team members worldwide, we are perfectly positioned to support and help them achieve their goals and see their vision come to life.”

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Matthew McGahan, CEO and Chairman of Lottery.com, added, “Our new relationship with WA.Technology marks a pivotal moment in Lottery.com’s growth strategy, especially in the burgeoning South American market. By leveraging WA’s operational efficiencies and proven expertise in this region, we are poised to enhance our global footprint significantly. This collaboration allows us to concentrate more effectively on US ticket operations, the relaunch of the WinTogether sweepstakes business, and the roll-out of Sports.com. We are confident that our purchase of WA.Technology’s robust platform and its comprehensive iGaming solutions will complement our vision for global expansion, helping to make Lottery.com a household name in the lottery domain worldwide.”

WA.Technology’s commitment to this new agreement reflects the company’s dedication to global expansion and its capability to deliver tailored solutions in a wide range of global markets with a significant impact on online lotteries.

WA.Technology’s specialist lottery vertical, WA.Lottery is the ultimate toolkit for new lottery ventures, offering a diverse range of 70+ global lotteries, personalised gaming options such as sweepstakes and scratch cards, and e-commerce platforms with extensive payment options and jackpot coverage, all complemented by an intelligent management system that enhances user engagement and scales effortlessly to meet the needs of any lottery business.

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International News

SCCG Management Announces Strategic Partnership with WhiteLotto for Distribution of Lottery Software Solutions

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SCCG Management Announces Strategic Partnership with WhiteLotto for Distribution of Lottery Software Solutions

 

SCCG Management, a global leader in advisory services for the gambling industry, proudly announces its strategic partnership with WhiteLotto, a subsidiary of the esteemed GG International brand. This alliance marks a significant step in expanding the reach and capabilities of both companies within the global lottery and gambling sector.

WhiteLotto’s platform and solutions are a one-stop solution for launching a successful lottery business, encompassing the best lotteries, technical and marketing support, licenses, extensive marketing tools, an affiliate program, and support for over 40 languages. Their flexible models of cooperation and a blend of online and offline technology cater to a wide range of lottery messenger services and national lotteries worldwide.

Stephen Crystal, Founder and CEO of SCCG Management, commented, “Our partnership with WhiteLotto is a landmark moment for us. WhiteLotto’s cutting-edge lottery platform and its global operational model perfectly align with our vision of connecting the industry’s best products and services. We are thrilled to collaborate with a company that has such a profound understanding of the lottery sector, and we look forward to bringing WhiteLotto’s exceptional offerings to our extensive network of clients.”

Wojciech Lysak, Managing Director of WhiteLotto, expressed his enthusiasm about the partnership: “The WhiteLotto team is proud to partner with SCCG. WhiteLotto’s business model was always to stay outside the flashlights, working from backstage in a peaceful and calm atmosphere delivering quality projects always on time, while being referred from project to project by word of mouth. Having cooperation with SCCG, which in WhiteLotto’s humble opinion is the industry superstar in terms of networking and connection of good businesses, WhiteLotto products can now be presented to a more broader audience of worldwide operators.”

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This strategic partnership enables WhiteLotto to leverage SCCG’s vast network and expertise in the gambling industry, allowing them to expand their reach and showcase their innovative lottery solutions to a broader audience. For SCCG, collaborating with WhiteLotto adds a new dimension to their client partner ecosystem, which comprises over 100 of the top products, platforms, and solutions in the industry.

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