888 Holdings (LSE:888) PLC is in talks to rake up the non-US parts of William Hill from casino giant Caesars Entertainment Inc, the FTSE 250 company has confirmed.
Caesars completed the £2.9bn acquisition of the UK bookmaker in April this year, having had a 272p per share offer recommended last September.
Noting that there had been press speculation, Gibraltar-based 888 confirmed late Tuesday morning that it is in "advanced discussions" with Caesars regarding a possible acquisition of William Hill's international business.
"There can be no certainty that these advanced discussions will result in a transaction. A further announcement will be made as and when appropriate," it said.
In January, William Hill confirmed that it returned to revenue growth in the final quarter of 2020 thanks to strong performances from its sport-betting business in the UK and US.
Higher sportsbook staking and helpful sporting results were key to sportsbook net revenue growth of 20%, it said, with group net revenue in the fourth quarter up 9% year-on-year after 9% fall in the third quarter.
The UK betting shops saw a 30% revenue decline last year amid the various lockdowns, partly offset by 5% online revenue growth in the UK and 12% from overseas business, while US net revenue increased 32%.