Browse articles by topic

William Hill to acquire CG Technology sportsbook assets


William Hill has agreed a deal to acquire all race and sportsbook assets of bookmaker CG Technology for an undisclosed sum, allowing it to expand its presence in Nevada and gain a foothold in the Bahamas.

The agreement covers the leases at The Cosmopolitan of Las Vegas, The Venetian and The Palazzo, The Palms, the Tropicana and Silverton, as well as providing a betting platform and risk management consulting to the Atlantis on Paradise Island, The Bahamas.

The deal remains subject to certain closing conditions, including regulatory approval in both Nevada and The Bahamas. Financial terms of the agreement were not disclosed.

“We are pleased to have reached this agreement,” William Hill US chief executive Joe Asher commented. “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.”

CG Technology CEO Parikshat Khanna added: “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.”

The announcement coincides with the publication of the operator’s trading update for the third quarter of the year, in which it revealed US net revenue was up 60% year-on-year, or 53% on a constant currency basis. This was driven by a 200% increase in revenue from newly-launched states, coupled with 27% revenue growth from its Nevada operation.