Monthly Archives: July 2016

Neymar Faces Immense Pressure at Rio Summer Olympics

All eyes will be on Neymar when the Olympic Games begin next month in Rio de Janeiro. The 24-year old Brazilian soccer star will face the same kind of pressure he would in a major poker tournament. Maybe more. And Neymar knows all about competing on the felt as much as he does on the […]

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Rank Group, 888 Holdings eyeing merger and joint bid to acquire William Hill

The pace of UK gambling market consolidation sped up over the weekend on reports that casino operator Rank Group and online gambling business 888 Holdings were teaming up on a joint bid to acquire bookmaker William Hill.

As first reported by the Sunday Times, Rank and 888 are in “advanced talks” regarding a merger that would create a £2b firm. Assuming that deal gets done, the pair would then make a £3b play to acquire Hills, creating a truly full spectrum gambling operator.

Rank and 888 subsequently issued a joint statement saying they saw “significant industrial logic” in acquiring Hills, a move they believe will result in “substantial revenue and cost synergies.” While no formal approach has yet been made to Hills, UK takeover regulations give Rank and 888 until Aug. 21 to propose specific terms of a deal.

Rank operates over 50 Grosvenor casinos and nearly 100 Mecca Bingo clubs, as well as a young but thriving online division. 888 is an online-only operation with a particularly strong poker vertical. Hills has the UK’s second largest (if currently underperforming) online division as well as the UK’s largest retail betting presence that generates over half of its overall revenue.

Gaming Industry News Weekly Recap – Stories You Might Have Missed

THE AMERICAS

CG Technology’s underpaying scandal forced the resignation of its CEO; Valve Corp ordered 23 eSports skin-betting operators to stop using its Steam marketplace; a Chinese consortium that includes Giant Interactive Group emerged as the frontrunner to buy Caesars Interactive’s social gaming operations; online gambling was the fastest growing segment of the British Columbia Lottery Corp’s annual report; tribal casinos posted their biggest revenue gain in a decade while Pennsylvania’s casinos set a new revenue record; the developers of the Bait app found a way to marry sports betting with Uber-style ratings; Larry Flynt won his casino tax fight with Gardena city council; Nevada casinos prepped for the return of Olympic betting; Ainsworth’s Bernie Gamboa explained why Latin America really gets him hot and Betgenius’ Peo Lekare explained the role culture plays in Latin America’s sports betting market; Rafi Farber offered a mid-year review of gambling stock performance; the World Series of Poker 2016 identified its November Nine and Jason Mercier was named WSOP 2016 Player of the Year.

EUROPE

William Hill pushed CEO James Henderson out the door following the company’s online hiccups; Poland gave its state-owned lottery a monopoly on online casino operations; Amaya Gaming trimmed “dozens” of staff at its London office; Bet365 and PokerStars topped Italy’s online betting and poker charts; Betsson’s Q2 numbers lived down to their advance billing; Greek police broke up a Taiwanese-led online betting ring; eSports Integrity Coalition’s Ian Smith discussed the nine threats keeping him up at night and BD Sport Europe’s Tom Van Beem explained why Dutch gamblers are nonplussed by their country’s online gambling legislative progress.