Ladbrokes parent is eyeing on non-U.S. assets of William Hill
Caesars plans to sell the non-U.S. assets of William Hill and New Entain CEO is considering making a bid.
“We’re looking at everything, so we’re certainly also looking at whether this could be an interesting opportunity,” the CEO said.
A deal would bring about gigantic consolidation in British betting shops, where Entain already has a 40% share.
The global online gambling market is expected to grow by double digits annually to as much as $158 billion by 2028. That’s sparked a global race by casino companies, sports team owners and private equity firms looking to establish a strong position in the fast-growing business.
Entain itself almost became prey. In January, Entain and Coral rejected MGM’s offer as too low and appointed Nygaard-Andersen, an existing board member, as its CEO.
In April, Entain took control of Enlabs AB, a Swedish online wagering company with a big presence in the Baltics. It’s also making a run for some of the assets of Australia’s Tabcorp Holdings.
The total volume of casino deals completed or pending has risen 33% to $22 billion so far this year.
Editing by Rachel Hu