In a move that is sure to shake up the gambling industry, Caesars buys William Hill for close to $4 billion. The deal was announced today, as shareholders of the British bookmaker will receive a 25% premium with a closing share price of 217.60 pence.

The two companies said on Monday that they were in advanced talks over a possible offer at 272 pence for each William Hill share, which the U.K. company said was “minded” to recommend to its shareholders.

““William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing US sports betting and online market,” Caesars Chief Executive Tom Reeg said.

You can read more about how Caesars buys William Hill at Market Watch.