The UK gambling and sports betting giant William Hill has revealed that it decided to cease operation of three of its online casino brands in Europe.
Earlier this week, the British gambling group, which was taken over by the US casino, gambling and entertainment behemoth Caesars Entertainment in a £2.9-billion deal in April 2021, revealed that it will shutter the operations of its 21Nova, EuroGrand, and Casino Club brands. As shared by company officials, the decision came as part of the gambling conglomerate to streamline its online gambling operations in Europe.
An official statement released by William Hill this week states that the company had taken a strategic decision to close the three aforementioned brands following an extensive evaluation of its assets and business footprint. The British gambling operator also shared that the closure of the Casino Club, EuroGrand and 21Nova brands would come as part of its strategy to better focus on the online gambling platforms of the William Hill and Mr. Green brands.
Mr. Green, which currently operates one of the largest online gambling platforms in Europe, was established in Malta in 2007. In January 2019, William Hill took over the company in a deal worth £242 million in cash.
Caesars Entertainment Previously Announced No Intention of Keeping William Hill’s Non-US Assets
The customers of the three aforementioned brands will be given until January 24th, 2022 to withdraw funds they might have in their accounts. The company also noted that players who choose to transfer their accounts to the Internet gaming platforms of William Hill and Mr. Green will be grandfathered into a similar rewards tier.
William Hill further revealed that it has already ceased any marketing efforts for the three interactive casino networks. The three brands no longer accept any more players to their platforms.
Once the three online gambling platforms cease operations, William Hill will still own and operate a total of 6 UK-facing casino websites. Apart from the William Hill-branded website and the one of Mr. Green, the gambling giant will also run Bertil, Redbet, Mama Mia Bingo and 11.lv.
The company shared that it will be a much different organization in 2022 than the one it used to be before being acquired by Caesars Entertainment earlier in 2021. At the time it took over the British gambling giant in April, the US casino, gambling and entertainment behemoth revealed that it would seek further divestment as it was not interested in keeping any of William Hill’s assets in Europe, including the company’s more than 1,400 UK-based betting shops.
In September 2021, Caesars Entertainment revealed that the non-US assets of William Hill would be acquired by 888 Holdings for about £2.2 billion. The net proceeds that the US gambling and entertainment group expects to receive as a result of the deal after debt repayment amount to roughly £1 billion.
As the company itself reported, William Hill’s online operations accounted for 61% of its overall revenue in 2020, while retail operations generated 26% of the income. The company’s operations in the US accounted for the remaining 13% of the overall gross proceeds. Also, the UK business of gambling and sports betting giant generated 64% of last year’s revenue. Other international markets delivered a further 23%, while the company’s services accounted for 13% of the company’s income.
- Author
Olivia Cole
