Caesars Entertainment has a deal in place to buy sports-betting firm William Hill.
Caesars said in a late-night news release Tuesday that it has agreed to purchase the British bookmaker for 2.9 billion pounds (close to $3.7 billion).
The deal, which will need regulatory approval before becoming final, is expected to close sometime during the last half of 2021, according to Caesars.
“The opportunity to combine our land-based casinos, sports betting and online gaming in the U.S. is a truly exciting prospect,” said Tom Reeg, CEO of Caesars, in a statement. “William Hill’s sports-betting expertise will complement Caesars’ current offering, enabling the combined group to serve our customers in the fast-growing U.S. sports betting and online market.”
Nevada-based Eldorado Resorts Inc. completed a $17.3 billion buyout of Caesars Entertainment Corp. in July and retained the iconic company’s name as the largest casino owner in the world.
The combined company now owns and operates more than 55 casino properties in 16 U.S. states, including eight resorts on the Las Vegas Strip.