William Hill Submits €271M Offer Hoping to Acquire Mr Green

Staff Writer Industry News, William Hill Casino 619

Gambling giant William Hill is looking to expand its digital footprint in Europe and has made an offer to Sweden-based online betting firm Mr Green for €271 million.

Mr Green currently operates in 13 different countries with licenses in Ireland, Britain, Denmark, Italy, Latvia and Malta.  The company expects a new license in Sweden to be approved by the end of the year. William Hill currently holds no shares in MRG that operates online brands Mr Green and Redbet.

Ambitious Bid

William Hill is hoping to secure its position in the market ahead of the upcoming Brexit talks.

Brexit will cause various problems at the bookies in the United Kingdom and William Hill tends to be a step ahead of the competition. Entering regulated markets like Sweden will make them more powerful in the online sector.

William Hill offered SEK69 in cash per share to MRG investors, representing a total of SEK2.819 million which is equivalent to €271 million. This step had a huge effect at the company’s shares which rose by 8% while MRG’s shares rose even higher. The acceptance period for the offer is expected to commence on or around 10 December and close around 11 January 2019. If shareholders accept the offer, the settlement is expected to begin around 17 January 2019.

William Hill’s CEO, Mr. Philip Bowcock commented the offer in a statement published in behalf of the popular bookie.

“We are going to create a ready to go international hub. As a part of Brexit, we have to create an international hub outside of Gibraltar operations.”

Established in 2008, Mr Green platform has a big following of players and the brand opened its online sportsbook section, catering to a wider variety of gamblers. It will provide William Hill with access to a wider international market in Europe and a base operations in Malta. The gambling giant will secure its position and expand at a faster rate.

“This proposed acquisition accelerates the diversification of William Hill – immediately making us a more digital and more international business” Bowcock added.

“MRG will provide William Hill with an international hub in Malta with market entry expertise and strong growth momentum in a number of European countries. William Hill will move from a single brand to a suite of brands that can maximise growth opportunities moving forward in new and existing markets.”

Should this end with a positive outcome, Chief Digital Officer of the company, Urlik Bengtsson will take command of the MRG integration. Citgroup Global Markets is working for William Hill as its exclusive financial advisor and its corporate broker while Vinge is operating for the brand as its legal advisor.

Bowcock said there are no plans for making material changes to the employees and management of MRG.

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