Acquiring MRG will help to reduce William Hill’s exposure to the UK market, according to the offer document published (December 4) by the operator.
William Hill is looking to reduce its exposure across the UK market through its latest deal with MRG. According to a published document, acquiring MRG, since it only holds licenses in Italy, Malta, Latvia and Denmark, the company will strategically rationalize its exposure. The published document also stated that “MRG’s online-only business will increase the William Hill Group’s share of revenue and profits from online as well as from outside the UK, and reduce William Hill’s exposure to the UK market.”
William Hill has also emphasized the high growth potential MRG has. The operator posted, back in October, year-on-year revenue growth of about 50.9% to SEK445.2 million. Back when William Hill announced the takeover of MRG the operator said it would allow them to become “a more digital and more international business.”
The first six months of 2018 MRG would have increased the operators overall online revenues from 42-47%. This number does not include US territory. William Hill anticipates it will obtain a Swedish license for MRG’s online sector before the re-regulated market opens up January 1st.The acceptance period was extended as well, per the document, for the time frame needed to receive approvals from “competition authorities in a number of jurisdictions.”