The war for US sports betting domination has begun, and with over $150 billion in annual revenue up for grabs the stakes are high. This week the first shots were fired in what is sure to be a long and hard fought battle.
Hello my friends! Thanks so much for streaming another edition of This Week in Gambling, where the battle for sports betting supremacy in America has begun… and that is this week’s big story!
Betting on sports is now legal in 22 states and the District of Columbia. Plus, another seven states are currently considering regulating the activity, all in just a little over two years since the US Supreme Court decided that a ban on US sports betting was unconstitutional. With an estimated market value of over $150 billion a year and growing, is it any wonder that companies are willing to fight tooth and nail to grab as much market share as possible? And that has led to mergers and buyouts and acquisitions.
For decades, betting on sporting events in the United Kingdom has been perfectly legal . I guess it’s only natural then that it was British companies that helped lead the way into American sports betting. Companies like Betfred, Paddy Power and Ladbrokes. Of course, one of the biggest and best known British bookmakers is William Hill. They just completed a deal to get six new prime locations right smack on the Las Vegas Strip as part of their ongoing partnership with Caesar’s Entertainment.
You may recall that Caesars was recently acquired by Eldorado Resorts. They kept the Caesar’s name and promptly became one of the largest gambling companies in the entire world. Logically then, their best next move is to acquire William Hill. Yes, Caesar’s Entertainment has made a $3.7 billion offer in an attempt to acquire William Hill, but they’re not the only company vying for the British bookmaker.
Apollo Global has also made a $3 billion offer… and here’s where things get a little sticky: You see, Apollo actually purchased Caesars back in 2008. Then Eldorado purchased Caesars earlier this year. Now, the two are in a bidding war vying against each other… head to head… for William Hill in what could determine early supremacy in the US sports betting game.
With so much on the line here, Caesar’s is playing hardball. They’ve actually warned William Hill that if they accept the Apollo Global offer, Caesars could terminate their agreement and deny William Hill access to their American market. How’s that for a kick in the danglers? So grab your popcorn, my friends. The first shots in this war have been fired, and things are bound to get interesting.
I wanted to let you all know that the Planet Hollywood Casino in Las Vegas has officially set a reopening date October the 8th, which is just about a week away. The casino will be open seven days a week to welcome guests, however the hotel itself will only be available for weekend stays… Thursday through Sunday. So now you know.
Also this week we have a new game review to share with you for the Diamond Trails Ocean Winnings… one of Konami’s newest linked progressive games. It comes with their popular Triple Sparkle Feature and is delivered on their Concerto Opus and KX43 cabinets. You can watch the full review and hundreds more when you visit and subscribe to our YouTube channel.