captaingambling Weekly: William Hill US acquires CG Technology and other news…
2019-11-27 | CaptainGambling
New things abound in the world of gambling every week. Some news tends to be very exciting while some are not so captivating, but the fact remains that trends in the gambling world are now being reported on the front page of major newspapers around the world and keeps trending on the internet through social media platforms like twitter, Facebook, Instagram and so on. This is why we at captaingambling have decided to start a weekly news update, serving you red hot headlines and information on the latest trends in the gambling world. This weekly update will follow to the topic “Gambling in the USA”.
Here are the hot headlines trending in the gambling world for this week:
- William Hill US Acquires CG Technology Sportsbook
- Florida Propose to Legalize Online and Offline Sports Betting
- Unibet Syndicated as NBA Wagering Partner
- Sportech Links Recovery to Operational Efficiencies
- On-course Irish Bookmakers Gives Strike Warning
- Wolverhampton Wanderers Names Crypto Millions Lotto as Its Official Partner
- William Hill signs NJ Devils Broadcast Sponsorship on MSG Networks
We now move over to the detail.
William Hill US Acquires CG Technology Sportsbook
It has been confirmed by William Hill’s division in the US that it is expanding its Las Vegas profile by acquiring the sportsbook of CG Technology. CG Technology has opened its sportsbook operations in Nevada since 2009, setting up six grandeur premises in the Cosmopolitan, the Venetian, Palms Resort, the Palazzo, Silverton Casino and the Tropicana. In addition, CG Technology functions as the main risk management solution and wagering system for the casino assets of the Atlantis and Paradise Island.
Leading the management team for the acquisition of CG Technology sportsbook, Joe Asher the CEO of William Hill US said “We are indeed very happy to have reached this agreement. This agreement will give us access to expand our Las Vegas profile to numerous strategic resorts. We look forward to forming a great partnership with our new casino partners and transitioning CG Technology’s mobile and retail customers to our award winning offering”.
The final phase of the transaction requires regulatory approval from Nevada authorities.
This acquisition also includes CG Technology’s wagering assets and properties operating in the Bahamas.
According to the CEO of CG Technology, Parikshat Khanna, “We are pleased to reach an agreement for the sale of CG Technology’s race and sportsbook assets to William Hill and eagerly expect a smooth transition for our esteemed casino partners and customers.”
Florida Propose to Legalize Online and Offline Sports Betting
The popular Florida senator, Jeff Brandes has introduced to the house, three bills seeking to regulate and legalize sports betting in the state. These proposal aims to allow players who have attained the age of 21 and above and physically present in the Florida to place bets on athletic events, including collegiate and professional sports, either online or via retail outlets.
It was proposed that online sports betting license should be available to private operators at the price of $100,000 per year while the retail outlet should be set up by the Florida Lottery, with the private operators and retail outlets subject to a 15% tax on net revenue.
It was also proposed that the net profits from sports betting should be transferred to the state’s Educational Enhancement Trust Fund, just like the subsisting gaming and lottery income.
The filed bills also makes provision for betting restrictions, restricting sportsmen, athletes and every other person involved in sporting events from placing wagers.
The following proposals were filed on the 18th of November 2019 and will come into operation on the 1st of October 2020, if approved: SB972 (tax), SB970 (license fee) and SB968 (regulation).
Unibet Syndicated as NBA Wagering Partner
According to a corporate update issued by Kindred Group Plc, its leading brand, Unibet has secured NBA data accreditation for the US wagering market. This authorization will grant Unibet’s operations in the US access to NBA statistics and data, boosting its basketball catalogue for players betting within regulated US states.
2019 has been a very busy year for Unibet. It recently set up its first US online sport bookie outlet in the state of New Jersey. This was done in conjunction with the Hard Rock Hotel Casino situated in Atlantic City. It also secured a multiple year agreement with Pala Interactive, making it launch its fully operational online gambling platform for the players of Pennsylvania.
In addition to the agreement, Unibet and the NBA will continuously work hand in hand on the best way to protect and strengthen the integrity of the sports and its athletes.
Earlier this year, the NBA secured Draftkings and William Hill as official data partners to strengthen its betting related integrity capacity.
”We are proud and happy to partner with the NBA. This agreement will definitely add to the topnotch gaming experience that our customers have been experiencing. Accessing the official data of the NBA further enhances the betting experience of customers. We share the NBA’s view of a sustainable and regulated gaming market, and his makes our partnership the perfect combination”. Stated Manuel Stan, the SVP Kindred Group USA.
Sportech Links Recovery to Operational Efficiencies
The management of Sportech Plc has expressed confidence in the firm’s operations and future expectations as 2019 trading is predicted to exceed adjusted EBITDA expectations. The firm’s governance stated that it has gained from ‘operational efficiencies’ executed throughout all the company’s business channels and this formed part of Sportech’s extensive transformation program.
Year 2019 has seen the racing and wagering systems provider abandoned non profitable verticals and also simplified operating costs, boosting its extensive earning capacity.
In support of the company’s efficiency drive, Sportech has cut its capital expenditure projects, greatly minimizing its group expenditure.
However, the company’s other business units, including Digital and Racing, Lottery and Bump 50:50 are expected to have a net contribution growth in FY 2019.
The CEO of Sportech, Richard McGuire said ”Sportech currently have management teams that will transform the business to drive efficiencies and growth. The Group has been extricated from several expensive strategies, achieved a lower and effective operational cost base and there is now more confidence in the ability of the Group to deliver massive value to our shareholders and clients”
On-course Irish Bookmakers Gives Strike Warning
On-course Irish bookmakers have sounded a note of warning that they may no longer be able to offer their services on track due to a dispute with Horse Racing Ireland (HRI) and Association of Irish Racecourses (AIR). The dispute has mainly been on the intervals between races, race planning, and bookies pitching fees, with bookies stating that negotiations need to be kick started.
According to a statement from the Irish National Professional Bookmakers Association (INPBA) “race intervals are set up at 35 minutes with eight race program becoming widespread. The attendance at racecourse has suffered significantly, particularly at weekday’s meetings which has made on-course betting turnover to reduce by 75% in the last few years.
“The decrease in revenue and the burden of operating over 55 meetings annually is no longer feasible for the on-course market. Increase in the number of race meetings in the last ten years has resulted in a serious decrease in the average attendance at fixtures, inevitably leaving the wagering ring extremely short of customers.
“This trend has been noticed by the racecourses while dealing with other racecourse operations but has declined to reduce the charges to bookies that have literally been told to take it or leave it. Individual bookmakers can no longer sustain the losses, therefore, there must be remedial action if the wagering ring is to survive.
“Therefore we notify the public that bookmaking operations will no longer be operational at race meetings from November 24. We apologize to the few race-goers remaining and remind the racecourses that the wagering ring cannot operate without customers”.
The INBPA reiterated that it wishes to negotiate with the tracks so that more people will be encouraged to attend midweek fixtures. However, the association said that it holds the belief that several race meetings are staged to take care of off-course interests, with reference to the expansion of the fixture list to 335 meetings in 2019.
Ray Mulvany, on-course bookmaker said “we have to pay times five of the admission fee to get into any racecourse meeting. If the admission fee is €15, we have to pay €75 just to gain entry. We don’t have any problem with paying for the big meetings or at weekends. But for midweek fixtures where attendance is low, we seek for changes. We have been in talks with HRI and AIR to notify them of the changes, the industry has changed and some relief is needed. We have met three times in the last few weeks, and at all stages with nothing”
Wolverhampton Wanderers Names Crypto Millions Lotto as Its Official Partner
English Premier League football club, Wolverhampton Wanderers has named Bitcoin lottery operator, Crypto Millions Lotto as its official online lottery partner. Crypto Millions Lotto lets players wager on the result of Germany’s 6aus49 lottery games on Wednesdays and Saturdays.
The Curacao licensed site offers jackpot of about $30m, with every prize redeemed in Bitcoin with the exception of the jackpot and the $1m prize for correctly selecting 6 numbers, which can be paid in any currency you prefer.
According to the operator, partnership with Wolverhampton Wanderers would help crypto currency gain access further into the mainstream and thrust the brand to a global audience especially those in Canada, Asia, Russia, Latin America and the CIS Region.
“We are very pleased to have found a partner who shares the same disruptive ethos as ourselves” commented Sulim Malook, the CEO of Crypto Millions Lotto “Wolverhampton Wanderers’ success last year has etched the club’s name on the global stage in a sporting event that is by far the most followed in the world. We are great football fans and are happy to partner with the most crypto –friendly club in English football. Wolves were an obvious choice.”
Steve Morton, the head of commercial of Wolverhampton Wanderers said “We are pleased to have Crypto Millions as our partner, the company is very ambitious and is keen to improving its brand with the assistance of Wolves’ global reach across all platforms.
“We are also interested in developing our relationship, which will introduce the Wolves brand to new audiences in South America and Eastern Europe.”
William Hill signs NJ Devils Broadcast Sponsorship on MSG Networks
William Hill has agreed a sponsorship deal with the New Jersey Devils to broadcast all NJ Devils games on US regional sports and entertainment network, the MSG Networks. The sponsorship deals includes a blend of commercial spots and branded contents with in-game integration and this will air during MSG Network’s Devil’s game broadcast and also during the pre and post-match shows.
This deal is on the heel of William Hill’s sponsorship of the NHL team, including the establishment of an in-arena William Hill Sports Lounge situated at the Prudential Center stadium in addition to several other in-arena branding and advertising opportunities across Devil’s digital and social channels.
“We are incredibly excited to partner with William Hill on this important arrangement with any regional sports network,” stated Andrea Greenberg, the President and CEO of MSG Network, “with this sponsorship deal, we are able to provide William Hill with the smooth and sleek integration of both media and property assets at the Prudential Center which is expected to be the model for future sponsorship.”
Sharon Otterman, the chief marketing officer of US William Hill said “We are extremely excited to partner with MSG Networks on this trailblazing partnership. We are thrilled to teach our fans the rudiments of sports betting and to improve the broadcast with great contents that the fans are seeking.”
MSG Networks operates sports and entertainment networks, MSG+ and MSG Network (MSG) alongside live streaming and video platforms, MSG GO.
The networks show the games of 10 professional sports team. Games from the New York Red Bulls, New York Liberty, Buffalo Sabres, New Jersey Devils, New York Islanders, New York Rangers, New York Knicks, Westchester Knicks, Buffalo Bills and New York Giants.