British bookmaker William Hill is reportedly poised to increase its already large presence in the American sportsbetting market after receiving unanimous permission from the Nevada Gaming Control Board yesterday to move ahead with its planned purchase of local rival CG Technology.
According to a Wednesday report from Las Vegas Review-Journal newspaper, the London-listed operator inked a deal in November that is to see its William Hill US subsidiary buy the Nevada-based firm for an undisclosed amount so as to take over the running of sportsbetting inside six Las Vegas casinos. The behemoth is now purportedly hoping to receive similar consent from the Nevada Gaming Commission on August 27 in advance of beginning to combine the acquisition’s ventures into its already considerable portfolio of 113 race and sportsbooks spread across ‘The Silver State’.
The newspaper reported that CG Technology, which was previously known as Cantor Gaming, began operations in Las Vegas eleven years ago and is now one of the city’s biggest players. The firm is presently purportedly responsible for the sportsbook inside The Cosmopolitan of Las Vegas as well as similar ventures at the nearby Silverton Las Vegas, Palms Casino Resort and Tropicana Las Vegas.
However, The Las Vegas Review-Journal reported that CG Technology, which moreover runs sportsbetting services inside The Venetian Las Vegas and this property’s 3,000-room The Palazzo hotel, has been fined for a number of high-profile violations since 2014 while more recently being hit hard by the coronavirus-induced sidelining of most American sports.
Joe Asher, Chief Executive Officer for William Hill US, reportedly told members of the Nevada Gaming Control Board that his firm intends to honor any outstanding wagering tickets written by CG Technology following the envisioned takeover and additionally wants to quickly migrate users of the firm’s mobile app across to its own corresponding service. The executive purportedly declared that ‘it’s been quite a long road’ to getting the proposed transaction over the line but that its completion would also allow his company to assume responsibility for a betting platform and risk management consulting operation at The Bahamas’ Atlantis Paradise Island development.
When asked about what improvements his firm intends to make to the sportsbooks run by CG Technology post-acquisition, Asher reportedly proclaimed that his team had already held ‘very preliminary discussions with a couple of the properties’ that could eventually lead to their sportsbetting lounges being retrofitted or upgraded.