17 Oct
In News
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William Hill largest single shareholder rejects potential merger with Amaya

The potential mega merger between William Hill and Amaya Gaming was recently dealt a massive blow after Parvus Asset Management, the largest single shareholder in the bookmaker, opposed the deal.

Last week, it was revealed that the two companies were in talks over a merger that could create a £5.7 billion (€6.3 billion/$7 billion) iGaming entity.

Parvus, a British investor, published an open letter to state its objections to the merger deal. According to Parvus, which controls 14.3% of William Hill’s stake, “limited strategic logic and would destroy shareholder value”.

Parvus has instead called on the betting firm to look at “all alternative options for maximizing shareholder value”.

Mads Eg Gensmann, co-founder of Parvus, said:

“It shouldn't take more than five minutes of the board's time to realize this deal doesn't pass the smell test.

“We strongly encourage that the board and management stops wasting valuable time and shareholder resources pursuing this value-destroying deal.”

William Hillspokesperson said:

“Given the strategic fit, diversification and potential synergies we have a responsibility to fully assess this, however it is premature for us to draw conclusions while this work is ongoing.

“The board would not come forward with a transaction unless it was satisfied that it was in the interests of all shareholders.”

If deal would be a game-changer, should the two parties join forces in the coming days. However, there are several obstacles in the middle that need to be taken care of. The iGaming industry could be in for a major shake-up if William Hill and Amaya Gaming eventually merge to form a giant new business.

Simona

Kai started working in the Gaming Industry in 2001 when he managed a Horse Betting Shop in Germany. With the more and more upcoming needs for Sportbetting Solutions for the German speaking market he moved in 2003 in Malta where he built up TopSportWetten, one of the first Sportbetting operators working from Malta with a Remote Gaming License.

In 2005 he moved to a new venture and joined the newly formed Team of BetUnited, a Company that had the goal to target the German speaking online market with a full portfolio of Betting, Poker, Casino and Games of Skill.

In 2007 he left BetUnited and concentrated on helping new Companies coming to Malta to obtain a remote gaming license and establish operators on the island.

In 2011 he founded Simka Consulting to combine his knowledge in the operational part of the IGaming Business with the Marketing expertise of Simona.

Past Projects:

  • TopSportWetten - Managing Director and Key Official
  • Bet United - Managing Director and Key Official
  • MMBet - Managing Director and Key Official
  • Olympia Bet - Managing Director and Key Offical
  • Production Planning and Project Manager - Infratec Pro Ltd.

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