The new parent firm of William Hill Casino, 888 Holdings, says the casino made more money after acquiring it. Because of this, there was a big change in the world game business. It’s clear that this change will help William Hill Casino be even more successful.
Even though the UK has made gaming laws stricter, William Hill Casino is still doing well. As part of these rules, the highest bets on online slots will be lowered, and more thorough checks will be done. Adding the brand to 888 Holdings also increased the company’s overall profits, even though pro-forma sales went down by 7.5%.
Because William Hill has to pay more to borrow money, some of its financial success, while it was part of 888 Holdings, has been hidden. These costs are directly related to the big debts that were racked up during the £2.2 billion purchase. In spite of this, 888 Holdings’ losses after taxes, which included William Hill’s operations, dropped by 53% to £56.4 million.
The purchase also had bigger effects on the gaming industry, showing that companies are merging more and that foreign markets are becoming more important for big gambling companies. This has been brought to the attention of everyone in the business.
For the most part, William Hill Casino’s success while working under 888 Holdings shows how strong and flexible the company is in a global betting market that is always changing. These examples show both the problems and the chances that come with buying a big company.
