The Nevada Gaming Commission (NGC) approved William Hill to purchase rival sportsbook operator CG Technology. According to William Hill CEO Joe Asher, the company will purchase the assets and leases for CG Technology in cash.
The purchase isn’t exactly news, as William Hill announced its intentions to buy CG Technology and its assets last year. During its monthly meeting on Aug. 12, the NGC recommended the sale be approved during this week’s hearing.
The deal is now approved and William Hill will begin taking over CG Technology sportsbooks in Las Vegas.
CG Technology’s Vegas journey comes to an end
CG Technology started operations in Nevada in 2009 under the name Cantor Gaming. The gaming unit of Cantor Fitzgerald was the first US sportsbook operator to launch a mobile sports betting app.
In addition to a mobile sports betting app, Cantor Gaming brought live in-play wagering to Nevada.
The company changed its name to CG Technology in 2014. The writing may have been on the wall for the future of CG Technology in 2018, when the company agreed to pay a $2 million fine for taking out-of-state bets on its mobile app and incorrectly paying other customers.
CG Technology operated a variety of sportsbooks in Las Vegas, from luxury properties to local casinos. Before the COVID-19 pandemic, it operated sportsbooks at the following:
- The Cosmopolitan
- The Venetian
- The Palazzo (Lagasse’s Stadium)
Unfortunately, not all of the casinos have reopened just yet. Palms and the Tropicana remain closed. Lagasse’s Stadium at The Palazzo will not reopen. Details on the future of the space haven’t been revealed yet.
The lease that CG Technology once had for the Hard Rock will not continue for William Hill. Betfred will operate the sportsbook when that property opens as the Mohegan Sun Casino at Virgin Hotels Las Vegas.
During the hearing, Asher said the company is in very early talks with The Venetian and Silverton about possibly refurbishing the sportsbooks. Asher mentioned that he likes the current layout of the sportsbook at The Cosmopolitan. He didn’t mention plans for any other property.
William Hill continues to expand in Nevada
Earlier this year, NGC approved the merger of Eldorado Resorts and Caesars Entertainment. William Hill joined that merger, as Eldorado Resorts owns 25% of the international sportsbook operator.
Last week, William Hill started to take over the operations of Caesars’ Las Vegas sportsbooks. A source tells Play Innevada that the expansion will continue in earnest. The source says William Hill will assume operations of the CG Technology sportsbooks by Sept. 1.
When William Hill begins operations at CG Technology, the company will operate more than 110 sportsbooks throughout Nevada. This deal was as much for locations than anything else.
While William Hill’s market share may not explode because of the new properties, the company gains retail space at some of the best properties on the Vegas Strip.
The Venetian and Cosmopolitan retail sportsbooks are located inside luxury casino-resorts. These two properties alongside Caesars Palace will give William Hill a home at some of the most famous casinos on the Vegas Strip.
Of course, bettors can still visit William Hill locations at other Caesars properties and some of the more budget-oriented casinos, like:
- Casino Royale
- Circus Circus
- The Strat
Time will tell when and if William Hill will reopen the CG Technology sportsbooks at the Tropicana, Palms and The Palazzo.