Caesars Agrees To Revised Deal To Sell William Hill Non-US Assets To 888 Holdings

• Caesars Entertainment Inc (NASDAQ:CZR) has altered the enterprise value to sell the non-U.S. assets of William Hill to the British gambling firm, 888 Holdings Plc, to £1.95 billion - £2.05 billion.
• The previously quoted agreement value for the deal in September 2021 was £2.2 billion.
• The revised agreement reflects a £250 million reduction in consideration payable at the deal's closing.
• Further, Caesars is entitled to receive up to £100mm as deferred consideration, provided 888 Holdings meet certain financial targets for 2023.
• The casino and hotel company expects to receive about £585 million ( $785 million) proceeds from the deal.
• The transaction is expected to close in June 2022.
• Price Action: CZR shares closed lower by 6.67% at $72.01 on Wednesday.