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.
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