William Hill Expands in the US With Purchase of CG Technology Sports Book Assets
One of the most recognisable bookmaking companies in the world, William Hill, is seeking to expand its presence in the American market with confirmation that it is to purchase the sports book assets of CG Technology.
The deal not only includes the rights to CG Technology services online, but also includes leases at a number of prominent hotels and casinos on the Las Vegas Strip, including the likes of The Venetian, The Palms, The Tropicana and Silverton and The Cosmopolitan of Las Vegas.
Latest of a Number of Expansions
This latest move from William Hill comes on the back of a number of expansions into new territories over recent times. Back in May the company’s joint esports venture with GLHF.GG went live and back in August, the company launched its sports betting app service in Iowa.
Then in October the company announced a sports betting partnership with the NBA as well as a partnership with Monumental Sports and Entertainment to launch the first ever sports betting shop at a professional sports venue, the William Hill Sports Book at the Capital One Arena in Washington.
Who are CG Technology?
CG Technology are one of Nevada’s biggest sports betting companies, owning books at six prime Las Vegas resorts, all of which will now be under the control of William Hill. The company was well known for its luxurious surroundings in each of the hotels.
It is not yet clear what interests the company will have remaining upon completion of the deal with William Hill.
Fluid American Sports Betting Market
Although sports betting is still illegal in a number of states, that situation is fluid, and a number of new states are now considering, or in the process of, allowing sports betting services to its citizens. It is believed William Hill’s recent moves in the US make it ideally positioned to benefit should, as is widely expected, more states of the union follow suit and legalise sports betting services in the near future.
Of course, in addition to allowing many U.S. citizens to bet on traditional sports, the move also means that there is potential for William Hill to push their esports betting service across the United States too.
Transitioning
Speaking about the deal, the CEO of William Hill in the United States, Joe Asher, stated:
“We are pleased to have reached this agreement. This will allow us to expand our Las Vegas footprint to several marquee resorts.”
“We look forward to working with our new casino partners and transitioning CG Technology’s retail and mobile customers to our award-winning offering.”
The deal still needs full approval from regulators in Nevada and the Bahamas, although this is seen as a formality in the process.
CG Technology CEO Parikshat Khanna also moved to comment positively on the sale and reassured customers of CG Technology when commenting:
“We are happy to reach an agreement for the sale of the race and sports book assets of CG Technology to William Hill and look forward to a seamless transition for our loyal casino partners and customers.”
Image courtesy of William Hill / KMCannonPhoto
Since: August 10, 2015
