Caesars to sell William Hill non-U.S. assets for $3B

Caesars Entertainment has "reached a deal to sell the non-U.S. assets" of William Hill to 888 Holdings "for approximately $3 billion." After repayment of debt and other working capital adjustments, Caesars said that it "expects to receive net proceeds of approximately $1.2 billion." The deal is "subject to regulatory approvals as well as approval by shareholders of 888 Holdings PLC, an online gaming company based in Gibraltar." Caesars said that it "expects the transaction to close during the first quarter of next year." The move to sell the non-U.S. assets "was not unexpected" following Caesars' acquisition of William Hill for around $4B in April  (LAS VEGAS REVIEW JOURNAL, 9/9).