Betfred Boss Weighs Bid for William Hill, Telegraph Reports
Betfred Boss Weighs Bid for William Hill, Telegraph Reports
(Bloomberg) -- Fred Done, the co-founder of Betfred Ltd., is considering a counterbid for rival U.K. bookmaker William Hill Plc, in a challenge to U.S. casino operator Caesars Entertainment Inc., the Sunday Telegraph reported.
William Hill accepted Caesars’ 2.9 billion-pound ($3.7 billion) proposal last week. Since March, the Done family has doubled its holdings in William Hill to 6%.
Done is understood to have held informal talks about acquiring William Hill’s betting shops at the end of last year, the paper reported. With the U.K. high street buffeted by the coronavirus, he’s considering an offer for the whole business, which also has a growing foothold in the U.S. sports-betting market, the paper said.
William Hill and Betfred declined to comment to the Telegraph. An unidentified person at William Hill told the paper it had secured protection from Caesars over the future treatment of employees and shops in the U.K.
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