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Greg Spin

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Caesars Entertainment finalized its deal buying sports betting company William Hill today for $4 billion.

With the deal, Caesars now owns one of the largest betting and gambling companies in the world.

“We are thrilled to complete the acquisition of William Hill, combining two of the premier operations in the sports betting and iGaming industries under one roof,” CEO of Caesars Entertainment Tom Reeg said. “We look forward to announcing future sports partnerships that will drive long-term growth.”

Combined, the companies operate sports betting in 18 jurisdictions in the U.S. Caesars said it hopes to be operational in 20 jurisdictions by the end of 2021.

Caesars intends to sell the non-U.S. businesses currently owned by William Hill.