For a decade, the M Resort in Henderson, Nevada has served as the flagship sportsbook for CG Technology in Las Vegas. However, their 10-year lease on the sportsbook has now ended and will not be extended.
Penn National Gaming will transfer the operations of the sportsbook at M Resort to their national partner, William Hill.
The switch from CG Technology to William Hill at M Resort is awaiting official approval. However, it’s unlikely to face much resistance, if any, as the Nevada Gaming Control Board (NGCB) has consistently supported William Hill’s growth within the state.
William Hill continues to expand in Nevada
The NGCB has recently given William Hill the green light to run several sportsbooks owned by Golden Entertainment casinos across Nevada. This agreement incorporates a new sportsbook at the Stratosphere in Las Vegas as well as additional sportsbooks in Las Vegas, Reno, and Laughlin.
Upon approval of the M Resort deal, William Hill will have extended their sportsbook operation in Nevada to include these casinos in 2019:
- Aquarius (Laughlin)
- Decatur’s Arizona Charlie’s (Las Vegas)
- Boulder’s Arizona Charlie (Las Vegas)
- Eldorado (Reno)
- Jerry’s Nugget (Las Vegas)
- Montbleau (Reno)
- Stratosphere (Las Vegas)
- M Resort (Las Vegas)
William Hill is set to take over the operation of the M Resort sportsbook in May 2019. Upon assuming operations at M Resort, the company will be running 115 sportsbooks in Nevada. Furthermore, William Hill anticipates continued growth in Nevada, with the addition of at least one new casino in the future.
William Hill inked a contract last year to run sportsbooks in Penn National Gaming casinos across the U.S. Tropicana in Las Vegas, owned by Penn National, houses another sportsbook run by CG Technology.
While no remarks have been made by any of the companies concerning the current lease, it wouldn’t come as a surprise if William Hill assumed control over operations at their partner’s casino.
CG Technology in danger of losing more sportsbooks
There is a risk that CG Technology may lose additional sportsbooks in Las Vegas. Besides potentially losing the Tropicana, they are also at risk of losing sportsbooks at the Hard Rock, Palms, and Cosmopolitan.
In 2016, Palms was purchased by Station Casinos, a Las Vegas casino operator that manages the sportsbooks in all its other sites. The Cosmopolitan, meanwhile, has been granted permission to run their own sportsbook and has initiated a lawsuit against CG Technology to terminate their lease prematurely. It wouldn’t be a shock if one or both of these casino operators took over their respective sportsbooks.
Finally, Richard Branson and a group of investors purchased the Hard Rock last year. Plans are in place to renovate the Hard Rock into Virgin Hotels Las Vegas. Upon its expected opening in 2020, Warner Gaming will take over the casino’s management for Virgin Hotels Las Vegas. Details regarding the continuation of CG Technology as the sportsbook operator have not yet been disclosed.
Interestingly, CG Technology has the potential to broaden its horizons to another state. They revealed earlier this year that they will provide online and mobile sports betting in New Jersey later this year, as part of a new partnership with Meadowlands Racetrack.
William Hill grows inside and outside of Nevada
William Hill recently disclosed their 2018 earnings. Their report indicated they held a 32 percent share of Nevada’s sportsbook market. For the sixth year in a row, their earnings in Nevada saw an increase of over 10 percent.
Since they are already operating more sportsbooks in the state, their earnings and market share are expected to continue growing in 2019.
William Hill is the sole sportsbook operator in the U.S. functioning in all seven states where sports betting is legal. They are authorized to operate sportsbooks in 17 states and anticipate that 15 of these states will legalize sports betting within the next two to three years.
William Hill’s future in Nevada and the rest of the U.S. appears promising.
