LAS VEGAS and RENO, Nev., Sept. 9, 2021 /PRNewswire/ — Caesars Leisure, Inc. (NASDAQ: CZR) (“Caesars”) as we speak introduced an settlement to promote the non-US property of William Hill to 888 Holdings Plc for about £2.2 billion. After the compensation of debt and different working capital changes, Caesars expects to obtain internet proceeds from the transaction of roughly £835mm or $1.2 billion. The transaction is topic to receipt of the approval of shareholders of 888 Holdings Plc and regulatory approvals. Caesars’ expectation is that the transaction ought to shut throughout the first quarter of 2022.
“I might wish to personally thank Ulrik and all the group at William Hill for his or her professionalism and dedication whereas they’ve been a part of Caesars and significantly throughout the sale course of. I’m delighted that, as we stated we’d after we introduced the supply for William Hill PLC, now we have discovered an proprietor for the William Hill enterprise outdoors the US which shares the identical targets, approaches and longer-term ambitions of that enterprise,” stated Tom Reeg, CEO of Caesars Leisure, Inc.
Deutsche Financial institution and Linklaters LLP represented Caesars on the transaction.
About Caesars Leisure, Inc.
Caesars Leisure, Inc. (NASDAQ: CZR) is the biggest casino-entertainment firm within the US and one of many world’s most diversified casino-entertainment suppliers. Since its starting in Reno, NV, in 1937, Caesars Leisure, Inc. has grown by means of improvement of latest resorts, expansions and acquisitions. Caesars Leisure, Inc.’s resorts function primarily underneath the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® model names. Caesars Leisure, Inc. affords diversified gaming, leisure and hospitality facilities, one-of-a-kind locations, and a full suite of cell and on-line gaming and sports activities betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the corporate focuses on constructing worth with its company by means of a novel mixture of impeccable service, operational excellence and know-how management. Caesars is dedicated to its workers, suppliers, communities and the setting by means of its PEOPLE PLANET PLAY framework. Know When To Cease Earlier than You Begin.® Playing Downside? Name 1-800-522-4700. For extra data, please go to. www.caesars.com/corporate.
This press launch consists of forward-looking statements throughout the that means of the federal securities legal guidelines. You’ll be able to determine these statements by our use of the phrases “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “steering,” “intends,” “plans,” “tasks,” and related expressions that don’t relate to historic issues. Ahead-looking statements embody all statements apart from statements of historic reality, together with statements concerning required regulatory approvals and anticipated timing of consummation of the proposed transaction. You must train warning in deciphering and counting on forward-looking statements as a result of they contain identified and unknown dangers, uncertainties, and different components that are, in some instances, past Caesars’ management and will materially have an effect on precise outcomes, efficiency, or achievements. Though Caesars believes that in making such forward-looking statements its expectations are based mostly upon affordable assumptions, there isn’t a assurance that the proposed transaction will probably be consummated, and such forward-looking statements could also be influenced by components that would trigger precise outcomes and outcomes to be materially completely different from these projected. Caesars can not guarantee you that the assumptions upon which these statements are based mostly will show to have been appropriate. Dangers and uncertainties concerning the forward-looking statements contained herein embody, however aren’t restricted to, the chance that the proposed sale of the non-US property of William Hill to 888 Holdings Plc doesn’t shut when anticipated or in any respect as a result of required regulatory or different approvals aren’t obtained or different situations aren’t glad on a well timed foundation or in any respect and different danger components which might be detailed now and again in Caesars’ filings with the Securities and Change Fee. Caesars doesn’t undertake any obligation to replace or revise any forward-looking assertion, whether or not on account of new data, future occasions, or in any other case, besides as could also be required by relevant legislation.
Supply: Caesars Leisure, Inc.
SOURCE Caesars Leisure, Inc.