William Hill US Confirms Acquisition Of CG Technology

The acquisition of CG Technology has been confirmed by sportsbook operator William Hill US following receipt of regulatory approval within Nevada.

The tech company, previously known as Cantor Gaming, provides the operation of four additional Las Vegas sportsbooks to William Hill, further increasing the group ‘s presence on the strip.

William Hill US currently operates 124 race and sportsbook locations throughout the state of Nevada along with a mobile sports betting app, following the inclusion of branded entities at The Venetian Resort, The Palazzo Resort, The Cosmopolitan of Las Vegas and Silverton in Las Vegas.

New deals include self-service kiosks, an extended wagering menu with live in-play wagering on the app and over the counter, and a range of rewards club offerings.

William Hill US CEO Joe Asher noted: “William Hill has long been the leading sportsbook operator in Nevada. This acquisition further expands our footprint, giving us a bigger presence on the Las Vegas Strip at several world-renowned resorts. It’s a very exciting time for our company as we continue to grow and introduce our offerings to new customers.”

Last month William Hill adopted a bullish stance in its quarterly financial update, recognising inevitable losses resulting from the ongoing COVID-19 pandemic but asserting to the market that it will emerge far stronger, particularly in the fast-developing US sports betting space.

The business quoted a healthy performance on the North American market and said it looked forward to restarting major sports, describing it as the ‘last piece of the puzzle.’

Ulrik Bengtsson, CEO of William Hill said at the time: “We are confident with our position in the US. Following the merger of Caesars and Eldorado we now have a 29 percent market share in real money sports betting in the US. That clearly makes us America’s number one sportsbook.”

Net profits for Q2 fell to £554.4 m by 32 percent group-wide compared to £ 811.7 m year-on-year. However, the fall was partly offset by favourable sports results and robust gaming results, with igaming rising from £367.3 m to £ 369.3 m by one point.