William Hill CEO departs 888 takeover nears completion
The Chief Operating Officer of William Hill steps down as the turnover of the gambling company nears its conclusion
William Hill CEO, Ulrik Bengtsson departs
The gaming company William Hill announced the departure of their CEO in light of the handover of the company to 888 Holdings expected to be completed by 30th June 2022. Mr. Bengtsson is quoted as saying “With the on-sale to 888 Holdings due to be completed later next week, the time is right for me to say goodbye to William Hill and to hand over to Itai Pazner, CEO of 888 Holdings”.
Mr. Bengtsson who joined the company as Chief Digital Officer oversaw the Company’s takeover by Caesar’s entertainment group in 2020. He also presided over the sale of William Hill’s european assets to 888 Holdings.
How William Hill change hands
William Hill which had been took-over by Las Vegas Caesar Entertainment in 2020 when stakeholders accepted a £2.7 billion takeover bid. Caesars have been quite open about their motivation behind the acquisition which is William Hill expertise on online gambling regulations to help them in the US jurisdiction. They also did not hide the fact that they are not so keen on William Hills Brand and high-street bookmaking shops in the UK and its non-US operations.
September 2021 saw 888 Holdings purchase William Hill International from Caesar’s to the tune of £2.2 billion. The transfer of Wiliam Hill International to 888 Holdings is expected to be completed by June 30, 2022.