With Caesars Entertainment in the process of putting William Hill’s High Street betting shops and the European online gaming stage business upwards for auction, private equity rivals Advent International and Apollo Global Management are fighting for the finish line
Advent International is being named as the new leading applicant vying to buy William Hill's UK and European assets.
The times has reported that the American company, will be competing with rival group Apollo Global and online gaming operator 888 Holdings.
Last week SiGMA News reported that with initial bidders' proposals closing in on Tuesday, Apollo was seeming to be well-positioned to conquer the game as a leading contender. Boston-based Advent's application onto the scene is new and unexpected.
The auction is expected to begin at $1.65 billion with analysts stating that it could stretch up to $2 billion.
Even though Advent is being named as the new contender, industry experts have been betting on Apollo as the favorite to hold William Hill's assets as Advent has never had previous agreements with gaming companies before and is new to the sector, leading experts to believe that Apollo is the most viable option.
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