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PENN - Caesars Sports Betting Bid On William Hill Could Lead To Market Share Dominance
Penn National Gaming Inc.
Having just digested the Caesars Eldorado merger, the company doesn't stop to catch its breath, but surges ahead with another deal with a huge strategic vision on sports betting.
Integrating its brick-and-mortar presence in Vegas and up to 60 regional gaming markets, a William Hill deal solidifies a leadership move.
The $3.7b offer is to be funded by an issue of 30m in common with an estimated $75 a share price tag. CZR considered spinning off the UK asset base.