William Hill intends to buy Mr Green in £242 million deal
William Hill is set to buy Swedish-listed online gaming firm Mr Green in a deal worth £242 million, helping reduce their exposure to the UK market and giving them a ready-made base in the European Union after Brexit.
Mr Green (MRG) is licensed in Denmark, Italy, Latvia and Malta as well as Great Britain and Ireland and is expect to obtain licences in Sweden by the end of the year, giving Hills an expanded footprint across Europe as well increasing their digital business.
The UK market is becoming increasingly tough for William Hill with as many as 900 of their more than 2,300 betting shops in danger of closure after FOBT stakes are reduced to £2 next October, while the government increased remote gaming duty to 21 per cent from 15 per cent in Monday's Budget.
William Hill has proposed that its chief digital officer Ulrik Bengtsson, formerly chief executive of Betsson Group, will be responsible for overseeing the integration of MRG into the business. The operator noted that it would not make any material changes to MRG’s employees, management, organisation or operations until the acquisition was completed.