William Hill to get more time to complete Sportingbet deal

By Chris SierotyLAS VEGAS REVIEW-JOURNAL

November 12, 2012 - 8:47 am

William Hill Plc and GVC Holdings Plc were expected to get a four-week extension of its deadline to complete its $851 million acquisition of Sportingbet Plc, a Monday report said.

The deadline for William Hill and GVC Holdings to submit its formal offer is today. Both companies received approval for the takeover bid from Sportingbet's board in October.

The extension is expected to be granted so the companies can complete due diligence related to the deal, London-based InterGame magazine said Monday.

William Hill is licensed to operate sports books, kiosks and mobile betting apps in Nevada, but William Hill Online has not been licensed. The London-based company is looking to acquire Sportingbet's assets in Australia and Spain.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.

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