William Hill gets takeover approaches from Apollo, Caesars Jan-Henrik Foerster, Ruth David, Dinesh Nair, and Aaron Kirchfeld, Bloomberg · September 27, 2020 at 4:00 am Apollo Global Management Inc. and Caesars Entertainment Inc. have approached U.K. gambling group William Hill Plc about a potential takeover, the latest consolidation move in the betting industry. William Hill has received separate cash proposals from the two groups, it said in a statement Friday after Bloomberg News reported on the Apollo approach. Talks are ongoing and there is no certainty that a formal offer will be made, William Hill said. Shares of the bookmaker surged as much as 41% in London trading on Friday, an intraday record. The company now has a market value of about 3.1 billion pounds ($4 billion). Rival betting companies also rose, with Flutter Entertainment Plc gaining as much as 6.7% and GVC Holdings Plc advancing as much as 15.5%. Shares in Caesars jumped as much as 8.4%. Apollo has a history of investments in the gambling sector. It teamed up with TPG for a 2008 leveraged buyout of Harrah’s Entertainment Inc., which was later renamed Caesars. Last year, it also acquired a stake in Italy’s Gamenet Group SpA.