William Hill Banks on Punters in Purchase of Cosmopolitan Sportsbooks from CG Technology
William Hill, one of the world’s biggest sportsbook operatives, has added to its portfolio of retail sports betting locations. The top sportsbook announced that they are acquiring the books at the Cosmopolitan, Venetian, and Palazzo on the Las Vegas Strip from CG Technology. The British sports gambling behemoth is getting the sportsbooks at the Palms, the Silverton and Tropicana and CGT’s Bahamas operations. As part of the contract, William Hill provides “a bookmaking platform and risk management accessing to the Atlantis on Paradise Island.”
Financial terms and the closing date for the transaction are not yet announced. We are happy to have reached this arrangement. This allows us to develop our Las Vegas footprint into numerous marquee resorts,” said Joe Asher, William Hill CEO.
The firms’ paths have crossed this year when Penn National Gaming, the owner of the Tropicana, changed CGT with William Hill as the operative of the sportsbook at the M Resort in Sin City. With the sales of the sportsbooks at Palazzo, Cosmopolitan, Venetian, Tropicana and Silverton CGT Technology significantly carves its retail sports gambling presence in Las Vegas. The company’s site says it operates the sportsbook at the off-Strip Hard Rock Las Vegas, however that property is scheduled to close early next year as part of the transition to now become a Virgin hotel.
Hardening in Sin City
Before the revealing of the asset acquisitions from CG Technology, William Hill ran 113 Nevada race and sportsbooks. On its site, the business says its Las Vegas books are at Jerry’s Nugget Casino, Arizona Charlies, the Plaza Hotel & Casino, STRAT, Silver Sevens, and the aforementioned M.
William Hill – Mixed Reaction
Emotions ran very high on “Sports Gambling Twitter” when the William Hill/CG news broke. Some users were criticizing the declining number of self-governing sportsbook operators on the Strip. As for CGT, it remains to be seen where the firm, which has drawn the ire of watchdogs, goes from here. Previously Cantor Gaming, the business paid a $2 million fine to the Nevada Gaming Commission last year to recall its license to settle charges of rules defilements.
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