William Hill Bids to Buy Mr. Green
The UK-based betting operator William Hill intends to buy Mr. Green & Co (MRG) to expand its services to European countries. The offered price is about $308 million.
MRG’s operators, including Mr Green Casino and Redbet, provide gaming services to thirteen countries and hold gambling licenses in a range of European countries, including Italy, Denmark, and Malta. The group shows high annual revenue and the company’s shares increase to about 69 SEK.
“… create an international hub outside of Gibraltar operations …”
For William Hill, this deal is a good opportunity to strengthen its position within European markets, especially when Britain has introduced new gambling regulations and Brexit is ahead.
Philip Bowcock, William Hill’s chief executive officer, commented: “We get a ready to go international hub. As a part of Brexit, we have to create an international hub outside of Gibraltar operations.”
The offer has recently been approved by MRG’s board.
Source: Reuters article, published on October 31st.
