- Reports recently surfaced that several companies were bidding to purchase William Hill.
- It’s now been confirmed that Caesars has agreed to purchase this company for $3.7 billion.
- Most analysts support Caesars buying William Hill as a long-term investment.
The US sports betting industry is booming right now. Companies are taking notice and many are now looking to earn their piece of the revenue pie. For weeks, rumors have been swirling around that Caesars was interested in acquiring the UK-based sports betting operator, William Hill. Today, we’re going to talk about why Caesars buying William Hill makes perfect sense right now.
This is obviously big news for the country’s gambling industry. It will likely have a big impact on sports betting operations moving forward.
Here’s what we know about this situation.
Sports Betting Revenue is Increasing Around the US
The US professional sports industry is up and running again. Since the initial shutdowns back in March, many of the country’s top sports leagues have slowly begun to resume their seasons. The NFL, MLB, and NBA all have seasons taking place right now.
The resumption of these leagues had led to a massive increase in sports betting. More than 20 states have already passed bills to legalize and regulate sports betting. Most of these states are profiting massively off this form of gambling via taxes.
New Jersey is now said to have the largest sports betting market in the US. This past August, the state set a new record for sports betting revenue. Many analysts predict that record will be surpassed in September, coinciding with the start of the NFL season.
It’s exciting news for the sports betting operating in this country. The surge in revenue is clearly attracting the attention of many companies looking to enter the market. That includes William Hill, a UK-based gambling company that’s been operating in the United States since PASPA was removed in 2018.
Not long ago, reports surfaced that several companies were bidding to acquire William Hill. That includes Caesars and Apollo Global. We’re now hearing that Caesars has officially agreed to purchase this company.
Is this a smart move for the casino company?
Caesars Buying William Hill Makes Perfect Sense Right Now
Sports betting is still a fairly new industry in the United States. Many analysts predict this country is now the most profitable sports gambling market in the world. That’s impressive when considering less than half the states in the country regulate this form of gambling.
William Hill now has sports betting operations in several states. Most reports claim that these operations have been hugely successful. That is why the news that this company could be acquired came as a major surprise.
It’s been confirmed, though. Caesars has agreed to pay $3.7 billion to purchase William Hill and acquire its US assets. It’s still not entirely clear what will happen with this company’s various UK assets.
William Hill Chairman Roger Devlin feels this was the best option for the company moving forward.
“The William Hill board believes this is the best option for William Hill at an attractive price for shareholders,” he said.
Most agree that Caesars buying William Hill makes perfect sense right now. Sports betting revenue is expected to continue surging for years to come. With the company’s new acquisition, Caesars will take control over all of William Hill’s sportsbooks around the country.
It’s certainly been an interesting few years for Caesars. This summer, its merger with Eldorado Resorts was finally completed. That likely makes the company the biggest casino operator in the United States. Stay tuned for more updates on this new acquisition over the next few weeks!
Best US Sports Betting Options Available Right Now
Almost all states have seen bills presented to regulate sports betting. As we already mentioned 24 states have already taken this step. Many more are very likely to do so over the next couple of months.
Don’t be upset if your state hasn’t gone through this process yet, though. There are a huge number of fantastic online sportsbooks that are available around the entire country. Most of them are offering odds on all major sports leagues including the NFL, NBA, and MLB.
Our team loves Bovada. This site launched in 2011 and has grown to become one of the biggest and most popular internet sportsbooks in the country. Right now, this site is offering an incredible 50% welcome bonus up to $250.
It’s a great time to be a sports fan in the United States. Sports betting is expected to continue surging as the year goes on. Many analysts predict that nearly every state in the country will have legal sports betting options sometime in the next couple of years.
Based on the current trend, Caesars buying William Hill makes total sense. This company will likely profit massively with these new sports betting operations.
Are you surprised to hear that Caesars bought William Hill? Let us know in the comments section below!