Ladbrokes owner Entain eyes William Hill, increasing swoop prospects

The owner of Ladbrokes and Coral is in charge of William Hill’s European business, raising the prospect of a takeover of the British bookmaker.

Entain…is examining William Hill’s assets outside of the US in what City sources say is more likely a benchmarking exercise.

Also, according to sources, Apollo Global Management is the favorite to win the auction, which can fetch £1.2 billion. “It is Apollo’s to lose,” said one insider.

Caesars Entertainment paid £2.9 billion for William Hill earlier this year. The Las Vegas casino operator announced plans to sell the bookmaker’s 1,400 UK betting shops and its European online business.