William Hill-Mr Green: a Great deal is at the gates!

An unbelievable deal is too close to becoming true. The most respectable bookmaker all over the world, William Hill has made an offer to buy MrGreen. According to reports, the redemption amount for William Hill-Mr Green deal is approximately £242m.

The significance of a possible agreement

William Hill wants to reduce the reliance on the British market. That happens because the British regulations are tight. So the giant bookmakers intend to expand its business and strengthen its European operations ahead of Brexit. The deal would consolidate William Hill with MRG’s Mr Green and Redbet brands.

Increase in William Hill-Mr Green shares

Following the right rumours, both the companies saw their shares to be increased. William Hill share had an increase of 8%. At the same time, MRG shares increased up to 47%. They reached the price of 68,40 Swedish crowns. It is an amount close to the offer price (69,00 Swedish krona).

The MRG’s European perspective

The significant advantage of MRG is that operates in 13 markets. Furthermore, they have an international hub in Malta. That means that they serve in the European Union. So, this is the big motivation for William Hill, as Great Britain prepares to leave the EU. MRG also holds remote licenses for gambling in Italy, Denmark, Latvia, Ireland, and Britain. Besides, they expect to obtain a license in Sweden. This is going to happen by the end of 2018 following the regulations in the Swedish market. The company’s results for the 3rd quarter of 2018 show a massive 51% increase at revenue!

william-hill-poised-promote-philip-bowcock-ceo-position-reportWilliam Hill at Reuters

William Hill’s chief executive officer, Philip Bowcock, stated at Reuters: “We get ready to go international hub. As a part of Brexit, we have to create an international hub outside of Gibraltar operations. The British Overseas Territory of Gibraltar has like Malta become an important centre for online gambling”.

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