- August 12, 2016
- Posted by: deltamarkets
- Category: Uncategorized
William Hill, one of the leading worldwide bookmakers, has not accepted an enormous takeover bid made by 888 and Rank. 888 and Rank group, as a single entity both too small to take over William Hill, joined forces to jointly make an effort to acquire WH. A bid of 3.6 billion UK pounds however was not enough to take the giant down.
Mergers and acquisitions in gaming, a common thing in the last years
With the mergers such as Party – Bwin and Betfair – Paddy Power, fusions have become a trend in i-Gaming. Not always have they proved to be successful. For example, Bwin used to the most successful and market leading bookmaker in Europe, but now has been passed by Bet365, William Hill and Unibet. Party Gaming used to be the biggest poker website but has long been passed by Poker Stars. The combination of Party and Bwin (an Israelean – Austrian combo) was profoundly wrong on a cultural basis. With Betfair and Paddypower, more success is achieved.
Still, a surprising move by 888 and Rank
William Hill has laughed away the bid by Rank and 888. Although William Hill has not made any significant growth the last years, solely thanks to underestimated value attribution to the online world, it did not see much in the story told by 888 and Rank and will continue to operate individually.
In a reply, William Hill’s CEO told the press the bid by Rank and 888 was ‘ highly opportunistich and therefor not taken seriously’
The question remains if 888 and Rank will make a new offer soon. It would be the biggest takeover in the gaming history.