On Wednesday, William Hill announced the takeover of CG Technology retail sportsbooks in Las Vegas Strip. William Hill will acquire the books at Cosmopolitan, Venetian, and Palazzo. Besides, the British based operator is also acquiring sportsbooks at Silverton, CGT’s Bahamas, Palms, and Tropicana. The announcement, however, didn’t give more information on the dates of the transaction or terms of the acquisition.
William Hill path became open earlier this year when Penn National Gaming, the franchise which owns Tropicana, announced that it would replace CGT with William Hill as the sportsbook operator at M Resort in Las Vegas. When CGT finally trades its retail sportsbooks at Cosmopolitan, Venetian, Silverton, and Tropicana, it will significantly reduce its presence in the Las Vegas Strip. The company’s websites state that CGT also operates Hard Rock Las Vegas sportsbooks, but the venue is already being taken up by Virgin Hotel.
Solidifying in Sin City
William Hill still has a significant share of Nevada sportsbooks. Currently, the company controls 113 race sportsbooks in the city. The company might develop deeper roots in Sin City, one of the largest gaming regions in the United States. William Hill has been in partnering with Eldorado for a while, since Eldorado is acquiring Caesars at Vegas, then William Hill will benefit from the takeover.
Mixed Reaction
On Wednesday, Casino.org reported complains from Twitter users for the dwindling number of independent operators on the Strip.
“This is like buying up the high-quality steakhouse and replacing it with McDonald’s.” said one user in referencing to the announcement.
CGT has been provoking anger among regulators. The company had previously paid $2 million fine to Nevada Gaming Commission (NGC) due to charges of violations of rules. According to Casino.org, the $2 million fine was worrying to CGT since the company has so far paid three of the ten highest penalties to NGC.
