William Hill ups Las Vegas foothold with CG Technology acquisition

Sportsbook operator William Hill US has confirmed the acquisition of CG Technology following the receipt of regulatory approval within Nevada.

The tech firm, formerly known as Cantor Gaming, provides William Hill with the operations of four additional Las Vegas sportsbooks, further expanding the group’s footprint on the strip.

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

New offerings include self-service kiosks, an expanded wagering menu featuring live in-play wagering on the app and over the counter, and a variety of rewards club offers. 

“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,” noted Joe Asher, CEO of William Hill US. “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, acknowledging inevitable losses arising from the ongoing COVID-19 pandemic but asserting to the market that it will emerge much stronger, particularly in the fast-developing US sports betting space.

The firm cited a stable performance in the North American market and said it was looking forward to the restart of major sports, describing it as the ‘last piece in the puzzle’. 

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

Net revenue for Q2 dropped 32 per cent group-wide to £554.4m versus £811.7m year-on-year. The decline was, however, partially offset by favourable sports results and a resilient gaming performance, with igaming increasing by one per cent from £367.3m to £369.3m.