William Hill Approved To Purchase CG Technology In Nevada

The Nevada Gaming Commission (NGC) has given the green light to William Hill to acquire its competitor, sportsbook operator CG Technology. William Hill’s CEO, Joe Asher, stated that the company will buy CG Technology’s assets and leases in cash.

William Hill’s acquisition of CG Technology and its assets isn’t exactly recent news since it was announced last year. In their monthly meeting on August 12, the NGC suggested that the sale should be approved in this week’s hearing.

William Hill has received approval to proceed with the takeover of CG Technology sportsbooks in Las Vegas.

CG Technology’s Vegas journey comes to an end

Beginning its operations in Nevada in 2009 under the name Cantor Gaming, CG Technology was the first US sportsbook operator to introduce a mobile sports betting app. This gaming unit is a part of Cantor Fitzgerald.

Besides a mobile sports betting app, Cantor Gaming also introduced live in-play wagering in Nevada.

In 2014, the company rebranded itself as CG Technology. However, the company’s future was possibly foreshadowed in 2018 when it was penalized with a $2 million fine for accepting out-of-state bets through its mobile app and for incorrectly compensating certain customers.

Prior to the COVID-19 pandemic, CG Technology managed several sportsbooks across a range of venues in Las Vegas, spanning from luxury properties to local casinos. The locations included:

• The Metropolitan
• The individual from Venice
• Lagasse’s Stadium at The Palazzo
• Silverton
• Palms
• Tropicana

Regrettably, not all casinos are back in business as of now. Both Palms and Tropicana are still closed. Furthermore, Lagasse’s Stadium at The Palazzo won’t be reopening. Information regarding the future of this space is yet to be disclosed.

William Hill will not continue the lease previously held by CG Technology for the Hard Rock. Instead, Betfred will run the sportsbook when the property reopens as the Mohegan Sun Casino at Virgin Hotels Las Vegas.

At the hearing, Asher revealed that the company is in preliminary discussions with The Venetian and Silverton about potentially renovating the sportsbooks. He expressed his preference for the existing layout of the sportsbook at The Cosmopolitan. He did not disclose plans for any other property.

William Hill continues to expand in Nevada

Earlier this year, a merger between Eldorado Resorts and Caesars Entertainment was approved by NGC. Eldorado Resorts, which owns 25% of international sportsbook operator William Hill, included the latter in the merger.

William Hill began taking control of Caesars’ Las Vegas sportsbooks last week, according to a source who spoke to PlayNevada. The expansion is set to continue, with William Hill expected to assume operations of the CG Technology sportsbooks by September 1st, the source added.

Once William Hill commences operations at CG Technology, the company will run over 110 sportsbooks across Nevada. The deal was primarily about acquiring locations.

Although William Hill’s market share may not significantly increase due to the new properties, the company acquires retail space at some of the top properties on the Vegas Strip.

The Venetian and Cosmopolitan sportsbooks, located within luxurious casino-resorts, alongside Caesars Palace, will provide a base for William Hill at some of the most well-known Vegas Strip casinos.

Naturally, bettors still have the option to visit William Hill locations at other Caesars properties and some of the more economical casinos, such as:

• Royale Casino
• Circus Circus
• Sahara
• Reworded: The Strat

It will become clear with time whether William Hill will resume operations of the CG Technology sportsbooks at the Tropicana, Palms, and The Palazzo.