Bosses, bankers and advisers will enjoy a massive £ 169 million payout from Caesar Entertainment’s takeover of William Hill
Bosses, bankers and advisers will enjoy a massive £ 169 million payout from Caesar Entertainment’s takeover of William Hill.
The Las Vegas casino and hotel operator hopes to buy the UK bookmaker for nearly £ 3 billion and accelerate its expansion into America’s fast-growing online gambling industry.
Payday: Las Vegas casino and hotel operator hopes to buy bookmaker William Hill for nearly £ 3 billion
Documents released yesterday revealed that William Hill’s CEO Ulrik Bengtsson will collect a £ 1.2 million bonus as part of the deal, as well as up to £ 2.3 million from the early acquisition of outstanding stock plans. Its Chief Financial Officer Matthew Ashley will receive a bonus of £ 900,000.
Advisors will share up to £ 165.3 million for their work on the deal. Lawyers on both sides will receive £ 21 million and financial brokers will take home £ 50.5 million.
Barclays, Citigroup, PJT Partners and Deutsche Bank will also share between £ 62.4 million and £ 75.4 million in financing costs.