German gambling group joins Hill race

German sports-betting group Tipico has joined the £1.5bn race to take control of William Hill’s operations in the UK, according to Sky News.

Tipico, which is majority-owned by CVC Capital Partners, is among a handful of bidders vying for the gambling giant’s high street shops and continental European assets.

City sources said that Tipico Group had tabled a “credible” offer for William Hill, which was acquired by Caesars Entertainment of the US in a £2.9bn deal.

Caesars wants to sell the company’s famous brand and all of its operations outside the US and has hired advisers from Deutsche Bank to conduct an auction.