The stock of online gambling company 888 has soared as a result of a deal to pay less for William Hill’s assets.

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The firms announced on Thursday that 888 will pay a lower price for William Hill’s foreign assets from US-based owner Caesars Entertainment, citing changes in economic and regulatory conditions.

888’s stock rose nearly 30% after the British business stated it would have to seek less funds to partially fund the acquisition.

Last year, Caesars bought British bookmaker William Hill for $4 billion, and in September, the two companies agreed to sell William Hill’s non-US businesses to 888 for 2.2 billion pounds ($2.88 billion).

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Nassima Azmzm

Nassima Azmzm

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