Advent Said to Be Eyeing William Hill’s Non-US Gambling Assets
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Advent International is interested in buying William Hill's non-US gambling assets. The company is vying against buyout rivals Apollo Global Management and 888 Holdings. William HIll became part of Caesars Entertainment in April. Caeres only wants to sell the US business. The portion of the business that is being auctioned off is expected to fetch at least £1.2 billion.
Apollo has already done due diligence on William Hill's international operations. If Advent or Apollo scoop the auctioned operations, they will try to persuade the existing management team to remain at the helm of the business. Betfred is interested in William HIll's retail betting estate, 888 Holdings, and Entain is eyeing some of its online operations as well. Deutsche Bank will only accept offers for the entire non-US business of WilliamHill.
