Gambling giant William Hill is to buy Sweden-based online betting firm Mr Green & Co for €271m.
Mr Green currently has online gambling licences in Ireland, Britain, Denmark, Italy, Latvia, and Malta, and expects to obtain Swedish licences by the end of the year. William Hill said yesterday that it will offer SEK 69 (€6.63) in cash per share for the business, with the total offer amounting to SEK 2,819m (€271m), a 48.5pc premium on its closing price on October 30.
William Hill CEO Philip Bowcock said: “This proposed acquisition accelerates the diversification of William Hill – immediately making us a more digital and more international business.
“William Hill will move from a single brand to a suite of brands that can maximise growth opportunities moving forward in new and existing markets.”
The deal will reduce its exposure to the UK market, which has been subject to increased regulation in recent months.