paid $765 million<\/a> to Caesars Entertainment (NASDAQ: CZR) in 2022 for William Hill\u2019s international operations.<\/p>\n<\/div>\n888 and Playtech have partnered with the latter, running internet casino games on the former\u2019s platform. Last year, the two parties expanded their arrangement into the fast-growing US iGaming market.<\/p>\n
\u201cThis agreement will enhance the overall player experience by offering more entertaining and dynamic games, which is a key part of our content and product leadership strategy,\u201d said Howard Mittman, US division president for 888, in a statement at the time. \u201cWe look forward to welcoming Playtech\u2019s content and growing our partnership together.\u201d<\/p>\n
888 Trying to Go It Alone<\/h2>\n While 888 has long been the subject of takeover speculation, and it\u2019s clear that some competitors have expressed interest in buying the company, the operator\u2019s management appears intent on trying to survive on its own, at least for the time being.<\/p>\n
The gaming company concluded 2022 with a soaring debt-to-capital ratio and $3.55 billion in outstanding liabilities. Still, it doesn\u2019t have to contend with debt maturities until 2027, indicating it has some breathing room and doesn\u2019t need to sell itself over the near term simply to rid itself of debt.<\/p>\n
On the other hand, 888\u2019s low market capitalization and the strong brand recognition of William Hill among European bettors could compel other suitors to make takeover offers.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"William Hill owner 888 Holdings Plc (OTC: EIHDF) reportedly turned away a nearly $890 million takeover offer from Playtech (OTC: PYTCF) in July. Citing unidentified sources, The Sunday Times reported 888 and Playtech discussed a deal in July with the suitor potentially eyeing combining the target with its Italian betting unit, Snai, and then spinning […]<\/p>\n","protected":false},"author":46,"featured_media":208447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,1,1074],"tags":[81903,81966,81967,80968],"acf":[],"yoast_head":"\n
888 Said To Have Rejected $890M Takeover Bid From Playtech<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n