The value of shares in British bookmaking gaming giant William Hill has reportedly risen by over 8% today following news that the firm has proposed spending approximately $307.1 million in order to purchase Stockholm-listed online casino operator Mr Green and Company AB.
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According to reports from the Reuters and Press Association news services, London-headquartered William Hill is eager to increase the profitability of its online operations while simultaneously reducing its domestic exposure post-Brexit. The company has offered investors in Mr Green and Company AB up to $7.51 in cash per share, which would represent a 48.4% premium on yesterday’s closing price of $5.06.
The news agencies reported that Mr Green and Company AB has a presence across 13 markets and is responsible via its Evoke Gaming Limited and Mr Green Limited subsidiaries for iGaming sites such as MrGreen.com, MamaMiaBingo.com, Vinnarum.com, Redbet.com and Bertil.com. Established in 2007, the operator purportedly holds online gambling licenses from authorities in the United Kingdom, Denmark, Malta, Ireland, Italy and Latvia with a similar authorization for Sweden expected later in the year.