Gambling providers William Hill and Amaya have announced yesterday, 18th October 2016, that they are planning a £5-billion merger. According to iGaming industry representatives, the merger would create another iGaming business powerhouse with Omni-channel offering and strong presence in various unregulated and regulated territories.
According to Casino News Daily, the £5-billion merger announcement comes just after Parvus Asset Management Europe Limited, William Hill’s biggest investor, opposed the deal, saying that there was no strategic logic behind the merger and that company shareholders would have suffered from it.
Yesterday, William Hill said in a statement that after discussions with investors, the Board had polled the options received and had decided that a merger with Amaya would not be in the operator’s and its shareholder’s best interest.
William Hill and Amaya discuss options
Amaya stated in a separate statement that its Board members have concluded that remaining an independent publicly-traded company will put it in a good state for long-term growth, which will maximise stakeholder value.
In a statement, William Hill further stated that the company is still pursuing development in four core areas which were set by Interim Chief Executive Philip Bowcock. These areas include the company’s online, international businesses, technology, and efficiencies. Mr. Bowcock took office in July when former CEO James Henderson announced his resignation after two years in charge.
Apart from those four areas, the company also announced that they will remain on the alert for opportunities for growing shareholder value. Mads Eg Gensmann, co-founder of Parvus, proposed last week that William Hill’s Board also consider sale options.
Following the writing of this article, William Hill and Amaya called off the merger deal on Wednesday, October 19th, 2016.
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