William Hill under starter's orders in the US
UK bookie William Hill has been granted non-restricted gaming licences by the the Nevada Gaming Commission, clearing the way for the company to start operating in the USA.
UK bookie William Hill has been granted non-restricted gaming licences by the the Nevada Gaming Commission, clearing the way for the company to start operating in the USA.
The bookie said that as a result of the Commission's decision, the acquisitions of American Wagering, Brandywine Bookmaking and the racing and sportsbook assets of Sierra Developments, trading as Cal Neva, are now expected to take place on June 27th. The price tag on the acquisitions is around $49m (£31m) in total.
The acquisitions will be funded in cash and are expected to be marginally earnings enhancing (before exceptional transaction and integration costs and the amortisation of intangible assets associated with these acquisitions) in 2013. The group expects to rack-up $8m (£5.1m) of exceptional transaction and integration costs in respect of these acquisitions.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are delighted to have been awarded our licence to operate in the State of Nevada," said Ralph Topping, William Hill's Chief Executive.
"This now enables us to establish William Hill's first ever US operation, an important part of our international growth strategy. We will now bring together these three businesses to create a leading position in the Nevada sports betting market, combining our brand and product range with AWI's, Brandywine's and Cal Neva's extensive Nevada footprint, strong local relationships and trusted service," he added.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry