16/05/2005
William Hill announces acquisition of Stanley Leisure
Bookmaker William Hill has announced that the acquisition of rival Stanley Leisure’s betting shops.
The purchase of Stanley Leisure’s 624 shops for £504 million will make William Hill the biggest bookmakers in the UK, with over 2,200 shops nationwide.
William Hill described the takeover as a “rare opportunity” to increase the number of its betting shops in the UK. The purchase of the Stanley Leisure shops, which will be rebranded as William Hill shops, will enable William Hill to increase its presence in the northwest of England, where it is currently under-represented. It will also allow the company to establish itself in both Northern Ireland and the Republic of Ireland, where the firm is unrepresented.
The acquisition of Stanley Leisure will mean that William Hill will own around a quarter of all betting shops in the UK. However, the firm said that due to the “highly competitive” nature of the betting market in the UK, it hoped that the acquisition would avoid an investigation by the Competition Commission.
Commenting on the acquisition, Bob Wiper, Chief Executive of Stanley Leisure said: “We are delighted to announce the sale of our retail betting operations on terms which unlock substantial value for our shareholders. In particular, we believe that the price, which reflects the significant synergies available to William Hill is a very attractive one. Going forward, we shall be focusing on our market-leading gaming assets where we see a number of opportunities for organic growth and value-enhancing investment.”
Stanley Leisure is the largest casino operator in the UK, with 37 casinos across Britain and four in London, including Crockfords.
(KMcA/SP)
The purchase of Stanley Leisure’s 624 shops for £504 million will make William Hill the biggest bookmakers in the UK, with over 2,200 shops nationwide.
William Hill described the takeover as a “rare opportunity” to increase the number of its betting shops in the UK. The purchase of the Stanley Leisure shops, which will be rebranded as William Hill shops, will enable William Hill to increase its presence in the northwest of England, where it is currently under-represented. It will also allow the company to establish itself in both Northern Ireland and the Republic of Ireland, where the firm is unrepresented.
The acquisition of Stanley Leisure will mean that William Hill will own around a quarter of all betting shops in the UK. However, the firm said that due to the “highly competitive” nature of the betting market in the UK, it hoped that the acquisition would avoid an investigation by the Competition Commission.
Commenting on the acquisition, Bob Wiper, Chief Executive of Stanley Leisure said: “We are delighted to announce the sale of our retail betting operations on terms which unlock substantial value for our shareholders. In particular, we believe that the price, which reflects the significant synergies available to William Hill is a very attractive one. Going forward, we shall be focusing on our market-leading gaming assets where we see a number of opportunities for organic growth and value-enhancing investment.”
Stanley Leisure is the largest casino operator in the UK, with 37 casinos across Britain and four in London, including Crockfords.
(KMcA/SP)
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