William Hill and Mr Green are two very well-known online gambling ventures. Now, William Hill is making a bid to acquire Mr Green.
A £242 Million acquisition
Mr Green is among the most successful online casinos in the industry. They’ve been celebrating the 10-year anniversary for most of this year and had every reason to do so. The business has continuously grown over the years and Mr Green works with most of the best game providers in the industry. Two years ago, they also added a sportsbook to their offering.
It is thus hardly surprising that other industry giants are interested in buying Mr Green to expand their own business. The latest such bid comes from William Hill, one of the biggest bookmakers and online casinos in the UK.
They have made it known that they’re offering £5.60 per share to shareholders and investors in order to acquire Mr Green & Co. (MRG). The company is currently valued at £242 million on the Swedish stock market.
Expanding their reach
Mr Green is present in 13 countries around the world and holds remote gambling licenses in Denmark, Ireland, the UK, Italy, Malta and Latvia. They’re also on track to obtain a Swedish license, now that the market has opened.
As European markets continue to open whilst the UK market is cracking down further, William Hill considers their bid an ideal opportunity to expand their own reach globally. They are hoping to drive international growth and to gain deeper operational knowledge in the new markets that would come with the acquisition of Mr Green.
Supporting the deal
The MRG board of directors and investors, who hold a combined share of 40.04% of the company, are in favour of the deal with William Hill. But it’s not all signed, sealed and delivered just yet.
MRG’s shareholders have to give their approval as well. And once that has happened, the deal will be given a closer look by the anti-trust and cartel boards.
Should the deal then be approved, it is expected to close early in 2019.
And the future?
If William Hill’s bid is successful, the company would see significant growth in many markets. Last year, William Hill has suffered a little for various reasons, though they’ve made good recovery throughout 2018. Acquiring MRG, however, would allow them to successfully branch out internationally.
As for Mr Green, we’d hope that the impact on their online casino would be negligible. The casino is as successful and popular as it is for a reason and as long as William Hill doesn’t meddle with that, players should not be worried about this move.