William Hill Makes £242-Million Offer to Buy MRG ahead of Major UK Gambling Industry Disturbances - W88club

William Hill Makes £242-Million Offer to Buy MRG ahead of Major UK Gambling Industry Disturbances

  • 0

William Hill Makes £242-Million Offer to Buy MRG ahead of Major UK Gambling Industry Disturbances

Category : News

Netherlands’ Failure to Regulate Online Gambling a “Disgrace”, Says Kansspelautoriteit Chairman
Posted on Monday October 08, 2018

Dutch Senate yet to vote on Remote Gambling Bill that the Lower House approved two years ago The Chairman of the Dutch gambling regulator, Kansspelautoriteit, Jan Suyver, called it a disgrace that the Netherlands has failed to re-regulate and liberalize its online gambling market. Mr. Suyver commented on the country’s current local online gaming and

The post Netherlands’ Failure to Regulate Online Gambling a “Disgrace”, Says Kansspelautoriteit Chairman appeared first on W88club.

Caesars Selling Off-Strip Rio All-Suite Hotel & Casino, Fresh Round of Reports Suggests
Posted on Monday October 08, 2018

Sale of Rio All-Suite Hotel & Casino, located just off the Las Vegas Strip, might be imminent this time, according to reports Reports about the potential sale of Rio All-Suite Hotel & Casino, the off-Strip resort that has been hosting the World Series of Poker since 2005, have been emerging now and again for the

The post Caesars Selling Off-Strip Rio All-Suite Hotel & Casino, Fresh Round of Reports Suggests appeared first on W88club.

Justin Boggs Vies for Second WSOP Circuit Main Event Title at Horseshoe Southern Indiana
Posted on Sunday October 07, 2018

Justin Boggs eyes second Horseshoe Southern Indiana Main Event title, after claiming his first one this time last year Another day has passed at Horseshoe Southern Indiana where a WSOP Circuit stop is currently taking place, and it has produced a plethora of thrilling stories from the poker tables. But what was perhaps the biggest

The post Justin Boggs Vies for Second WSOP Circuit Main Event Title at Horseshoe Southern Indiana appeared first on W88club.

William Hill looks to expand European presence, diversify revenue mix, improve online performance with MRG marriage
William Hill today announced that it has made a cash offer to acquire Malta-headquartered online gambling operator Mr Green & co AB (MRG) as the British bookmaker is seeking to bolster its digital arm and amid tumultuous times for the UK gambling industry.

Cayman Islands Legislators Table New Anti-Illegal Gambling Bill
Posted on Monday October 29, 2018

Cayman Islands lawmakers look to clamp down on illegal gambling with heftier fines Cayman Islands lawmakers have indicated their intentions to ramp up efforts to crack down on illegal gambling with the recent introduction of a piece of legislation that, if adopted, would increase the penalties imposed on violators of existing laws in the British

The post Cayman Islands Legislators Table New Anti-Illegal Gambling Bill appeared first on W88club.

Is Brazil’s New Far-Right President Threatening the Country’s Gambling Legalization Effort?
Posted on Monday October 29, 2018

Brazil’s newly-elected President could leave it to individual states to determine whether they want to legalize gambling Far-right congressman and former army captain Jair Bolsonaro has been declared the new President of Brazil after winning a sweeping victory over Workers’ Party candidate Fernando Haddad in Sunday’s runoff election. Mr. Bolsonaro won the first round of

The post Is Brazil’s New Far-Right President Threatening the Country’s Gambling Legalization Effort? appeared first on W88club.

William Hill has offered to buy the online gambling company, which is based in Malta but hails from Sweden, for SEK69 per MRG share or a total consideration of SEK2.8 billion (approximately £242 million).

WSOP Circuit Stops at Harveys Lake Tahoe, First Ring Goes to Joe Ambrogi
Posted on Friday October 26, 2018

US poker pro Joe Ambrogi secured his first World Series of Poker Circuit ring, winning the $250 No-Limit Hold’em Re-Entry against 267 competitors. The tournament on Thursday was the opening event of 2018/2019 WSOP Circuit at Harveys Lake Tahoe Hotel and Casino in Nevada. The series continues with thirteen more tournaments, which will run through

The post WSOP Circuit Stops at Harveys Lake Tahoe, First Ring Goes to Joe Ambrogi appeared first on W88club.

William Watson Takes Down WSOP Circuit Horseshoe Hammond $400 No-Limit Hold’em 6-Handed
Posted on Thursday October 18, 2018

Watson scoops second gold ring exactly a month after claiming his debut WSOP Circuit gold piece William Watson from Lexington, Kentucky bested last night the field of the $600 No-Limit Hold’em 6-Handed at Horseshoe Hammond to claim his second WSOP Circuit gold ring in just a month and a payout of $30,592. Watson’s ride to

The post William Watson Takes Down WSOP Circuit Horseshoe Hammond $400 No-Limit Hold’em 6-Handed appeared first on W88club.

Sports Betting Takes Central Stage at Illinois House Committee Hearing
Posted on Thursday October 18, 2018

Illinois legislators bullish on benefits from the legalization of sports betting Legal sports betting is coming to Illinois and the question is not “if” anymore, but when and what the state’s wagering regulatory framework will look like, it has become clear from a four-hour hearing on the matter that took place on Wednesday in Springfield.

The post Sports Betting Takes Central Stage at Illinois House Committee Hearing appeared first on W88club.

Assuming approval by Mr Green shareholders, the deal is expected to be finalized in January 2019. In a statement from earlier today, MRG has notified that its Board of Directors has unanimously recommended that the company’s shareholders accept the offer.

Laurent Koscielny chính thức chia tay ĐT Pháp
Monday October 15, 2018

Theo thông tin mới đây nhất, trung vệ Laurent Koscielny vừa bất ngờ từ giã đội tuyển quốc gia Pháp sau những lời chỉ trích nhằm về HLV Didier Deschamps. Laurent Koscielny không có tên trong danh sách đội tuyển Pháp tham dự World Cup 2018. Điều đáng tiếc cho cựu trung vệ Arsenal khi […]

The post Laurent Koscielny chính thức chia tay ĐT Pháp appeared first on Tyle keo.

The transaction will extend the international footprint of William Hill’s online business and will help it establish presence in new markets. MRG’s online gambling brands Mr Green and Redbet currently operate in 13 markets, including Italy, Denmark, and the UK. The Malta-based gambling group has also applied for a license in Sweden.

Churchill Downs Acquires Majority Stake in Rivers Casino Des Plaines
Posted on Thursday November 01, 2018

Churchill Downs acquires “crown jewel of Illinois gaming” in latest acquisition deal within the US land-based casino space Gambling company Churchill Downs Incorporated announced on Wednesday that it has reached an agreement to buy a majority stake in Rivers Casino Des Plaines in Des Plaines, Illinois. The transaction involves Churchill Downs’ acquisition of “certain of

The post Churchill Downs Acquires Majority Stake in Rivers Casino Des Plaines appeared first on W88club.

Norwegian TV Host Sues Gaming Innovation Group over Failed Collab
Posted on Thursday November 01, 2018

Popular television personality claims he has reached a verbal agreement entitling him to 3.4 million shares now worth NOK10 million Popular Norwegian TV presenter Hallvard Flatland says he is entitled to 3.4 million shares in online gambling group Gaming Innovation Group (GIG) under a verbal agreement with company officials back in 2015. The company is

The post Norwegian TV Host Sues Gaming Innovation Group over Failed Collab appeared first on W88club.

Key Cayman Islands Lawmaker Slams Tougher Illegal Gambling Penalties
Posted on Thursday November 01, 2018

Opposition leader proposes alternative approach toward addressing gambling-related issues The Cayman Islands government opposition leader has criticized the recently introduced Gambling (Amendment) Bill 2018 that calls for the implementation of higher fines and longer prison terms for individuals conducting and engaging in illegal gambling services. Opposition leader Ezzard Miller has called the measure “draconian” and

The post Key Cayman Islands Lawmaker Slams Tougher Illegal Gambling Penalties appeared first on W88club.

In a statement from earlier today, William Hill has lauded both MRG’s sports betting and casino products and has pointed out that pairing with the company would allow it to strengthen its digital business, improve its revenue mix, and reduce its exposure to the UK gambling market, which is set to go through massive regulatory disturbances next year with the expected cut of the maximum FOBT stake and the implementation of a remote gambling duty hike.


Thursday January 01, 1970

Commenting on the offer, William Hill CEO Philip Bowcock said today:
“This proposed acquisition accelerates the diversification of William Hill – immediately making us a more digital and more international business. MRG will provide William Hill with an international hub in Malta with market entry expertise and strong growth momentum in a number of European countries. William Hill will move from a single brand to a suite of brands that can maximise growth opportunities moving forward in new and existing markets.”

The British bookmaker expects the deal to be accretive to earnings from year one of ownership before synergy benefits. It also anticipates synergy benefits of no less than £6 million per year. The synergy benefits are expected to be achieved progressively, with full delivery being anticipated by the third year after the completion of the acquisition.

Second Wave of Merger and Acquisition Deals
The UK gambling industry is facing massive regulatory challenges as Chancellor of the Exchequer Philip Hammond announced that the government will look to offset the losses from the planned cut of the maximum FOBT stake from £100 to £2 with an increased Remote Gambling Duty rate. Both changes will take force in October 2019 and come as part of Chancellor Hammond’s new Budget. Online gambling operators currently pay a 15% tax on gross gambling yield, but after the announced hike they will be required to contribute 21% of their GGY to the nation’s coffers.

Both the looming crackdown on the highly controversial FOBTs and the recently announced tax hike will hit William Hill’s profitability significantly. The British bookmaker owns one of the nation’s largest chains of betting shops with FOBTs, but its digital business has only shown mediocre performance over the past several years.
The introduction of the 15% Point of Consumption tax in 2014 sparked an unprecedented wave of merger and acquisition deals in the gambling industry. As a result, six of UK’s largest gambling companies paired to better position themselves in the changing landscape. The FOBTs clampdown and the new tax rate could certainly unleash a second wave of M&A activity and William Hill could become the main initiator of that wave.

Questions and comments about the plausibility of a marriage between William Hill and MRG have emerged immediately after the British bookmaker announced its intentions earlier today. While many would consider William Hill’s decision to acquire MRG a bit unexpected and its £242-million offer a bit too high, it should be said that the latter company has performed more than well over the past year. It has strengthened its position in the lucrative Nordics, has improved significantly its gaming product and has diversified its offering with a sportsbook, and has thus improved its financial performance.
William Hill will thus benefit from the addition of more brands to its portfolio and of revenue from European markets. It is also important to note that the proposed acquisition of MRG comes at a time when the British bookmaker is looking to cement its position in the recently liberalized US sports betting market.

William Hill has begun to gradually expand its sports betting presence beyond Nevada, where it has been operating sportsbooks for many years, and in other states where sports betting has become legal following the mid-May SCOTUS ruling that annulled a long-standing wagering ban. The company recently struck a deal with US casino operator Eldorado Resorts to lock up access to 23 million customers across the US. The deal has also made the British company Eldorado’s exclusive sports betting and online gambling partner across its 26 casinos in 13 states.
Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.
The post William Hill Makes £242-Million Offer to Buy MRG ahead of Major UK Gambling Industry Disturbances appeared first on Casino News Daily.

Please follow and like us: