Sports betting firm William Hill US has announced its intentions to purchase the sports book assets of CG Technology, including its Nevada and Bahamas operations, subject to approval.
The acquisition 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.
Joe Asher, CEO of William Hill US, explained: “We are pleased to have reached this agreement. This will allow us to expand our Las Vegas footprint to several marquee resorts. We look forward to working with our new casino partners and transitioning CG Technology’s retail and mobile customers to our award-winning offering.”
Parikshat Khanna, CEO of CG Technology, stated: “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.