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Fight Not Over For William Hill Acquisition

ACQUSITION FIGHT FOR WILL HILL NOT OVER YET
 
888 and Rank mount media and shareholder campaign, indicate still open minded on consideration.
 
William Hill plcs rejection of the GBP 3.16 billion 888-Rank acquisition bid this week has not deterred the bidders, who embarked Wednesday on a campaign to progress the venture, intimating that they remain open minded on pricing and laying out a raft of merger advantages in a detailed explanatory statement clearly aimed at shareholders .
 
The 888-Rank alliance called for further talks in order to create what they claim will be "the UKs largest multi-channel gambling operator by revenue and profit", with 92 percent of its business from regulated markets.
 
Their offer envisages Will Hill shareholders retaining 44.7 percent of the enlarged company, 888 shareholders 44.7 percent and Rank investors 29.6 percent.
 
Ranks chief executive Henry Birch would become CEO of the new group and Itai Frieberger, current 888 chief exec, CEO of Digital operations.
 
Birch took to the UK press to promote further "friendly" talks on the summarily rejected offer, telling The Telegraph newspaper that the bidders were prepared to consider lifting their initial bid and claiming that the advantages of a merger and the GBP 100 million in savings possible are "blindingly obvious."
 
He claimed that the merger would create the UKs biggest multi-channel operator with massive potential for success.
 
Meanwhile, Frieberger commented: “The price is something that we can always discuss.”
 
However, William Hill chairman Gareth Davies remained dismissive, reiterating his view that "the board continues to see no merit in engaging on the basis of a proposal that substantially undervalues the group. In addition, as we have said before this proposal is highly opportunistic, complex and poses significant risk for our shareholders.”
 
Earlier in the day 888 principal shareholder Eyal Shaked appeared to take a more angry and frustrated approach to the William Hill rejection, taking to Twitter to opine:
 
"“Pure ego made #WilliamHill reject #Rank and #888 £3.16bn bid and that will be their downfall. Thats the last I want to hear about #888 shareholders not willing to go big.”
 
Our readers may recall that William Hill blamed its failure to acquire 888 last year for GBP 700 million on a major 888 shareholders contention that the valuation was too low, and Shaked referred to this in a further tweet, commenting:
 
“Last year it was ‘key shareholder opting for higher returns’, now it’s an opportunistic offer. See you next year...”

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PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

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Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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