Champagne bottles will be popping on both sides of the Atlantic this week as Caesars Entertainment Inc has confirmed that it is buyinging William Hill Plc for a massive £2.9 billion. However, one of the biggest winners of this deal is a rival betting firm; Betfred. Due to a shrewd investment during the market panic earlier this year, this English sports betting company is well positioned to become one of the biggest in the UK if things go well.
Fred Done’s Savvy Investment
You don’t get to the top of any business without having an accurate vision for what’s going to happen in the near future. Fred Done, who founded Betfred with his brother Peter after they won a bet in 1967, snapped up 6% of William Hill earlier this year when the share price plummeted amid the Coronavirus panic. He accurately stated that William Hill was best positioned to capitalize on the legal US sports betting market.
It appears that Caesars Entertainment agrees. They have clearly stated that their primary interest in William Hill is its expertise in sports betting and that they want to link their casinos to the emerging legal sports betting market in the USA.
The deal will net the billionaire brothers £172 million, leaving them perfectly positioned to buy at least some of William Hill’s 1,400 high-street betting shops. This would significantly boost the Betfred brand in a short period of time.
Talk about a timely investment! This one smart move could make Betfred the number one high-street bookmaker in the UK in no time at all.
What Does this Mean for William Hill?
Details are still emerging about what will happen to William Hill’s betting shops, its online operations, and its other brands like Mr. Green online casino.
Today, Bloomberg reported that the firm will likely be broken up after the board accepted the Caesars takeover bid. Caesars clarified that it would “seek suitable partners or owners” for William Hill’s other assets. It’s clear that Betfred is the frontrunner for the betting shops, but could this mean that other rival casinos would bid on Mr. Green and William Hill’s proprietary online casino?
These are interesting questions that will be answered in time. Either way, for now, you should head over to Mr. Green and enjoy the best live dealer games that any UK casino has to offer.
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