Tipico Group, the international sports betting and casino games operator, is one of several suitors in line to buy William Hill’s European betting shops and joins the race to take control of its online operations for over £1.5bn ($2.09bn).
The German gaming group is among the bidders hoping to take the reins of the gambling giant’s high street assets. It will be up against rivalry from operators and investment firms: Apollo Global Management, 888 Holdings and Betfred in the competition to gain the British bookmaker.
In 2016, Tipico was bought by CVC Capital Partners – a private equity and investment company – and could have its potential bid funded as its majority owner.
Tipico has been labelled as a “credible” offer for William Hill, which was acquired by Caesars Entertainment in a £2.9bn deal, concluding one of the largest mergers in modern gaming history.
Since the acquisition of William Hill by Caesars, it now aims to sell the company alongside its operations outside of the US, and has hired Deutsche Banking advisor to initiate an auction. The expectation is to exceed the eventual price of £1.5bn due to the high interest.
With William Hill’s large European footprint, the brand carries a major presence in markets such as Italy and Spain.
As for Tipico, this acquisition could prove to be an exceptional opportunity at the right time, with the newly re-regulated German gambling market offering new licensing possibilities for sports betting.