British bookmaker William Hill has a 29 per cent share of the US sports betting market, thanks to its partnership with Caesars Entertainment.
But that market share is at risk in the current bidding war for the company between Caesars Entertainment and Apollo Global Management.
In short, if Hill chooses the Apollo option then it will risk that business in the US, with Caesars feeling justified in walking away from the joint venture. It has told Hill in no uncertain terms what the risks are if the bookie does not take up Caesars’ £2.9bn offer.
Another part of the fall-out would be the probable sale of Hill’s UK operations that include 1,400 betting shops. Both bidders want to cash in on the firm’s position in the burgeoning US sports betting business.