German gambling group Tipico enters £1.5bn race for William Hill’s non-US assets

A German sports betting group owned by one of the world’s largest private equity firms has entered the £1.5bn race. It is to acquire William Hill’s operations in the UK.

Sky News knows that Tipico, which is majority-owned by CVC Capital Partners, is one of a few bidders vying for the gambling giant’s high street stores and continental European assets.

Also, City sources say, Tipico Group made a “credible” offer for William Hill. It was purchased by Caesars Entertainment of the US for £2.9bn.

Caesars wants to sell the company’s famous brand as well as all of its operations outside of the US. Though, it has hired Deutsche Bank advisers to conduct an auction.