German sports betting group Tipico latest name to be linked to William Hill bid

German sports betting company Tipico, who are owned by private equity giants CVC Capital Partners, have become the latest name linked to the battle to buy William Hill's European business.

Sky News has reported that Tipico have tabled a "credible" offer for William Hill, whose assets outside the United States are being sold by Caesars Entertainment following a £2.9 billion takeover this year.

CVC had been mentioned as a possible suitor for William Hill last autumn and should it be successful the deal would reunite the two parties after nearly 20 years.

Hills were bought by CVC and fellow private equity firm Cinven for £825 million in 1999 before being floated on the stock market three years later.

CVC has been involved in the industry subsequently as well, buying a controlling stake in SkyBet in 2014, which it then sold to the Stars Group in 2018. CVC bought a majority stake in Tipico in 2016.

Another private equity firm, Apollo Global Management, which was an unsuccessful rival to Caesars for the whole of William Hill, has been regarded as favourite to be successful this time, while online gaming and betting company 888 have also been reported to be in the running.

Sky News said another private equity firm, Advent International, which had been linked to a bid, was no longer involved in the process, and claimed that Ladbrokes' and Coral's owner Entain had decided against making a formal offer.

Betfred are believed to be interested in buying at least some of William Hill's betting shop estate. However, it is understood Caesars will sell off Hills' non-US business in its entirety and so Betfred would have to wait for a successful bidder to split up the operations further.

BoyleSports have also expressed an interest in William Hill's retail estate.

Tipico did not wish to comment on the report when contacted by the Racing Post.

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