George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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You can steal more with a briefcase than you can with a gun spurs!
So look at it this way, Caesars and William hill are already working very nicely together, William hill isn’t earning what it wants to in the U.K. and recognise that regulatory pressure is likely to affect the domestic betting market for some time. They also know that to expand at pace in the USA will cost money.
Caesars have seen their revenue decline slightly over the last couple of years (not including Covid) and recognise that online and off track betting is a massive growth market. They also recognise that to tap into that market takes money and expertise. They know they have the required locations to get the necessary licences to be able to exploit the opportunities but they also know that William hill name and expertise is a definite plus point in this area.
There are many ways that William hill and Caesars could work together to benefit both companies and both companies shareholders.
However one option would be to take over William hill plc and simply own William hill America outright.
Rather than hold a gun to the William hill board of directors heads perhaps Caesars is offering the existing board jobs in Caesars with appropriate signing on bonuses and share options.
It doesn’t matter if they ultimately get rid of the U.K. and European operation by selling it off on the cheap and it doesn’t matter if they put the old wmh board out of a job because the board still get the profit from the sale of their William hill shares and are Still left holding Caesars shares.
Caesars might still go down the route of spinning off the online and sports book business once they own everything and split their shares into the two companies leaving the ex wmh board with shares in both and profiting from the USA gambling industry without having to go through the hard yards of running the company.
And all the board have to do for such riches? Be minded to recommend an offer of 272 per share.
Hell the new finance guy from national express only started in April and stands to make half a million quid profit from his share in wmh at 272 a share and Ulrik has only been in the job for 12 months himself!
Owl might call me a whinge or a whiner, other might imagine that I am some mad conspiracy theorist.
Then again I might be of the opinion that if you think the board genuinely had the rich history and the future of the wmh brand and the existing share holders at the forefront of their minds when these advanced discussions have been taking place you are being a little naive.
Personally I think the last time a job like this was pulled off in Vegas Danny ocean had recruited somewhere between 11 and 13 people to help him pull it off!
Everyone on here keeps using the same argument, W/hill should not accept this offer as the future potential earnings are huge. The powers at Willy Hill are not stupid and of course will know this. So the question on everyone’s lips should be why would Willy Hill sell under this circumstance unless a gun is being held to there head. Why would they not reap the benefits themselves. What conclusions have people come to, as I can’t see anyone voicing them on the forum.