William Hill to Purchase CG Technology Sports Book Assets
LAS VEGAS--(BUSINESS WIRE)--Nov 20, 2019--
William Hill, America’s leading sports betting company, is purchasing the sports book assets of CG Technology, including its Nevada and Bahamas operations. This includes 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.
“We are pleased to have reached this agreement. This will allow us to expand our Las Vegas footprint to several marquee resorts,” said Joe Asher, CEO of William Hill US. “We look forward to working with our new casino partners and transitioning CG Technology’s retail and mobile customers to our award-winning offering.”
Following today’s announcement, Parikshat Khanna, CEO of CG Technology, also commented: “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.”
Macquarie Capital acted as exclusive financial advisor and Pepper Hamilton LLP represented William Hill in the transaction.
The agreement is subject to certain closing conditions, including regulatory approval in Nevada and The Bahamas.
About William Hill
William Hill PLC is one of the world’s leading betting and gaming companies, employing over 12,500 people. Its origins are in the UK where it was founded in 1934, and where the company is listed on the London Stock Exchange. With headquarters in London and Leeds it has a national presence of licensed betting offices in Great Britain and Northern Ireland and is one of the country’s leading online betting and gaming services. In 2012, it established William Hill US with a focus on retail and mobile operations in Nevada, which is now the largest sports betting business in the USA. William Hill US ( www.williamhill.us ) currently operates 113 race and sports books in Nevada and the state’s leading mobile sports betting app. In New Jersey, William Hill is operating at Monmouth Park Racetrack, Ocean Resort Casino, Tropicana Atlantic City, and online with the William Hill New Jersey sports betting app. William Hill is also operating sports books in Indiana, West Virginia, and Iowa, and online with the William Hill Iowa sports betting app. William Hill is a licensed sports betting provider in numerous casinos in Mississippi and New Mexico, and serves as the exclusive risk manager for the Delaware and Rhode Island sports lotteries. In October 2019, William Hill signed an agreement with Monumental Sports & Entertainment to build and operate a sports book at Capital One Arena in Washington D.C., subject to regulatory approval. William Hill has licensed operations in The Bahamas, Italy, Spain and Sweden and serves online customers in the UK, Ireland and throughout the world from its digital hubs in Gibraltar and Malta. In February 2019, it completed the acquisition of MRG Group, acquiring the Mr Green and Redbet brands, and with it an expanded pan-European footprint in faster growing online betting and gaming markets.
About CG Technology
CG Technology is one of the largest licensed bookmakers in Nevada and operator of seven Nevada sportsbooks at six prime Las Vegas resorts, many of them on the world-famous Strip and all within easy reach of the city’s 43 million annual visitors.
CG Technology’s Sportsbooks are known for their high-definition screens, comfortable seating, and designs unique to each host resort. Their Las Vegas sportsbooks range from luxury destinations such as The Venetian, The Palazzo, and The Cosmopolitan to iconic classics like Hard Rock Hotel & Casino and Tropicana to locals’ favorites Silverton Casino and Palms Casino Resort.
More information is available at www.cgsportsbooks.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191120006005/en/
Michael Grodsky, Vice President of Marketing & Public Relations, William Hill Race & Sports Book
Mobile: (702) 378-7852 –email: firstname.lastname@example.orgCG Technology
Nehme E. Abouzeid, CG Technology Sportsbooks
Phone: (702) 279-6172 –email:email@example.com
KEYWORD: NEVADA NORTH AMERICA UNITED STATES IRELAND UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: SPORTS CASINO/GAMING GENERAL ENTERTAINMENT ENTERTAINMENT OTHER SPORTS
SOURCE: William Hill
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PUB: 11/20/2019 09:01 PM/DISC: 11/20/2019 09:01 PM