William Hill hopes an increased stake in the Latvian market will boost brand visibility in the country.
The operator notes that a quick entry into the Latvian market was made possible by rebranding its local sports betting brand, 11.lv.
Latvia’s 11.lv was acquired by William Hill in 2019 and has been under a local licence since 2012.
William Hill notes the rebrand has coincided with significant Latvian sporting events, including the 2022 IIHF World Championship and the Responsible Gaming Latvian Cup, which both took place in the last month.
William Hill’s International Managing Director, Nir Hakarmeli, said: “I am very proud of the work done building 11. lv brand in the Latvian market, becoming one of the leading brands in the country.
“This makes us well-positioned to take this strategic step, and we look forward to introducing one of the strongest brands in the industry and proving to our Latvian customers that William Hill is who you play with.”
888 is taking over William Hill's European assets from Caesars Entertainment, which bought William Hill's US assets in 2021 for £2.9bn ($3.7bn). It could be argued it is too easily dismissing the power of the William Hill brand in Europe.
The operator’s shareholders overwhelmingly voted in favour of the acquisition during an Extraordinary General Meeting (EGM).