William Hill to buy Mr Green
Looks like Mr Green, and group brands (Redbet etc) are soon to become part of the William Hill group.
On Wednesday it was announced that William Hill Plc had made an all cash offer to acquire Nasdaq Stockholm listed Mr Green & Co for 2.8bn Swedish krone (around £240m).
Mr Green's board have now recommended shareholders accept the offer... bit of a no brainer given Hill's per share offer represented an almost 50% premium to Mr Green's trading price before the offer.
William Hill's rationale for the purchase, as explained by CEO Philip Bowcock, was to strengthen the group's non-UK revenue base. The purchase is expected to lift boost the international share of group revenue from present 14%, to 21% and provide William Hill with a well established, and fast growing EU brand(s) with multiple EU licenses and a strong presence in a many EI countries...Nordics particularly.
Mr Green was also described as a growth engine, a fair observation given revenue for their 2018 year is tracking 44% above 2017.
This growth is reflected in developments in their live casino...one of the fastest growing out there in terms of both table numbers and game/platform variety.
What's the bet we see the Blackjack Classic tables pop up at William Hill some time soon?
