Shares in 888 Holdings soared today after Caesars Entertainment agreed to sell William Hill's non-US assets to the firm for up to Ј250million less than previously agreed.
shot up 16.8 per cent to Ј2.31 on Thursday, making the group the top riser on the London Stock Exchange's FTSE 350 Index.
When the online betting brand originally struck a deal to purchase William Hill's international business from the American hotel and casino giant in September last year, it landed on a price tag of Ј2.2billion. 




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Terms: When the deal is finalised, all 1,400 William Hill shops in the UK, as well as online gaming brands Mr Green and Redbet, will come under the control of 888 Holdings

Approval is required from shareholders for the revised deal to go ahead, but 888 Holdings said its largest investor had given it the thumbs up.
The company believes the buyout of William Hill International would help diversify its geographical and product offering, enhance its presence across key markets and enable it to take advantage of the booming sports betting industry.
When the acquisition is finalised, it will take charge of all 1,400 William Hill shops in the UK, as well as online gaming brands Mr Green and Redbet, and increase its employee headcount by over 10,000.




Bosses at the firm said: 'The current macro-economic environment and changing market conditions across its key markets only serving to strengthen the rationale for bringing together two highly complementary businesses and combining two of the industry's leading brands.'
888 Holdings further revealed today that it expects first-quarter revenue to rise modestly from the previous quarter to $222-226million, which would be an increase of at least a third from the equivalent period two years ago.
But this figure would represent a decrease of around $50million on last year when Covid-19 lockdown restrictions prevented punters from visiting betting stores and encouraged more of them to place bets online.
The gambling group added that the decline reflected the temporary closure of its services in the Netherlands, where a new online gambling license regime has come into force, and the impact of regulatory and compliance factors.
It could face additional regulations in the UK, where proposals to reform the Gambling Act are set to be outlined later this year following years of concerns regarding the harmful effects of betting addiction.





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