A German sports-betting group owned by one of the world’s largest private equity firms has joined the £1.5bn race to take control of William Hill’s operations in Britain.

Sky News has learnt that Tipico, which is majority-owned by CVC Capital Partners, is among a handful of bidders vying for the gambling giant’s high street shops and continental European assets.

City sources said that Tipico Group had tabled a “credible” offer for William Hill, which was acquired by Caesars Entertainment of the US in a £2.9bn deal.

Read More: Sky News