Deadline Friday to finalize deal between bookmakers

20 December 2012

By Chris Sieroty

William Hill plc, Great Britain's largest bookmaker, has until Friday to finalize its $785 million offer for rival Sportingbet plc. The companies agreed to the cash and stock deal in October, but William Hill has received several extensions to complete their due diligence relating to the deal. William Hill is making a joint bid with GVC Holdings PLC. The deadline for a formal offer to be submitted was extended to Friday, according to the three companies. It had been due to expire on Tuesday. William Hill, which operates 159 sports books and kiosks in Nevada, is looking to take over Sportingbet's lucrative business in Australia and Spain, while GVC Holdings would receive other assets in areas where regulation is less clear cut.

Deadline Friday to finalize deal between bookmakers is republished from Online.CasinoCity.com.