William Hill Acquires 29.4% Stake in Online Lottery Business
Gambling operator William Hill PLC announced previous today it had bought a 29.4% stake in online lottery options provider NeoGames S.a.r.l. for the total quantity of £16 million ($25 million).
William Hill also remarked that it may choose the staying 70.6% stake in the lottery business within three or 5 years after the acquisition regarding the minority stake. the gambling operator is always to buy the rest of the NeoGames shares will be based on means of a particular methodology, which had been arranged within the stake purchase that is original.
Possessing 29.4% associated with lottery that is online, William Hill has specific shareholder liberties and you will be able to nominate two users for the NeoGames Board. Also, the client is to finance a performing capital totaling $15 million, if required.