A Sunday Times report has revealed Playtech holds significant interest in the acquisition of William Hill’s parent company and global operator, 888.
In a deal that will reportedly be worth around £700m, it stems from interest that initially emerged in July when the tech supplier produced a written approach for the UK betting giant, which was subsequently deemed to have undervalued the firm.
A deal could be back on the cards amidst the continued decline of 888 shares, which currently sit at 70p, less than half of Playtech’s summer valuation of the firm.
Commencing in October, 888 has embarked on a strategic review led by new CEO Per Widerström, as it looks to build a comprehensive assessment of its overall online performance.
It comes off the back of the group’s William Hill acquisition, as the operator has endured a challenging period after its stagnant US joint-venture with Sports Illustrated. The deal with William Hill was originally worth around £2bn.
Playtech has reportedly set sight on tapping into the value and potential of William Hill through integration with the firm’s SNAI Italia business.
It’s a move that would have a significant impact on the landscape of betting and gaming in Europe, with William Hill one of the key players in the space, both in terms of retail and digital footprint.
