888 Holdings’ shares raised thanks to William Hill
William Hill took a takeover deal with the online gambling operator 888 Holdings, which increased the value of its share by 20% or more.
The news about this were made known by 888 Holdings soon after the information appeared in the newspaper The Times, which said that William Hill is offering a 750 million pound deal as it wants to hasten the expanse of its online gaming possibilities.
The news reveals that the prior agreement of William Hill with 888 Holdings stopped on the line 210p per share.
The shares of 888 with its poker, casino and bingo game were up 21% at 175p for a share at 14.59 GMT and the number of sold shares increased by 5 times. The share of William Hill fell by 3,5% to 376.2p.
888 said, “888 Holdings has confirmed the approach as to the possible deal but without and certainty.”
According to some gambling source, The Times said that the negotiations can stutter over one of the 888’s founders from Israel, who wanted to get 300p per share. 888 Holdings has already experienced unsuccessful takeover by Britain’s Ladbrokes in 2011.
Karl Burns, analyst from Panmure Gordon, commented that the price of 210p is really worth it and William Hill won’t give more.
“There is a probability that this agreement won’t be made, as it can greatly extend William Hill’s budget.”
As more and more regulations and taxes are introduced in the sphere of gambling, big providers are becoming interested in online gaming opportunities.
A number of proposals have been made to the gambling company Bwin.Party in November, and Deutsche Bank is making negotiations for them.