William Hill, America’s leading sports betting company, is purchasing the sports book assets of CG Technology, including its Nevada and Bahamas operations. This 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.
“We are pleased to have reached this agreement. This will allow us to expand our Las Vegas footprint to several marquee resorts,” said Joe Asher, CEO of William Hill US. “We look forward to working with our new casino partners and transitioning CG Technology’s retail and mobile customers to our award-winning offering.”
Following today’s announcement, Parikshat Khanna, CEO of CG Technology, also commented: “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.