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William Hill to Purchase CG Technology Sports Book Assets

Discussion in 'The Sports Book' started by archie1959, Nov 20, 2019.

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  1. archie1959

    archie1959 VIP Whale

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    LAS VEGAS--(BUSINESS WIRE)--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.
     
    • Wow! Wow! x 1
  2. BillDonovan

    BillDonovan Low-Roller

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    Bummer...The more independent sportsbooks the better,
     
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  3. M0rtyC

    M0rtyC TBD

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    This isn’t as much about vegas as it is about getting ready for multi state book expansion. WH will have a great vegas presence to help level hot regional action.
     
    • Agree Agree x 1
  4. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    Old enough to remember and have bet at William Hill’s predecessor, Leroy’s Sports Book.

    [​IMG]

    Horse racing, sports. Degenerate gambling at its finest.
     
  5. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    In theory, I agree. But CG was kind of the worst. They would sometimes offer lines hard to find elsewhere, but that's the only time I wagered there. Surly ticket writers, books where it was hard to get a seat, no casino comps, and worst of all, they had no problem trying to rip off its customers (usually in small ways, but that adds up). I do enjoy that they offer NFL weeks 1-16 lines before the season starts, but that's the only thing I will miss
     
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  6. stackinchips

    stackinchips VIP Whale

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    The second worst operation, buys the worst operation. Match made in heaven!
     
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  7. The Rumor

    The Rumor VIP Whale

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    CG was dead in the water after the NV fines and headaches; not terribly surprising that they sold out.

    This will improve WH's Strip presence greatly.
     
    • Like Like x 1
  8. archie1959

    archie1959 VIP Whale

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    There will now be 11 Las Vegas sportsbook operators: South Point, Circa, William Hill, Boyd, Caesars, Golden Nugget, MGM/Mirage, Station, SuperBook, Wynn and Treasure Island.
     
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  9. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    And there is a decent chance WH will take over Caesars is that merger ever gets completed
     
    • Agree Agree x 1
  10. Don the Dentist

    Don the Dentist LV resident

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    As a dedicated "line shopper" its one less option.
     
  11. donfairplay

    donfairplay High-Roller

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    In 'merica, we call this a merger of equals.
     
  12. dmr

    dmr Registered Abuser

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    Locally here, both CET properties have William Hill sports books.
     
  13. NCAAHoops

    NCAAHoops VIP Whale

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    CG was the bottom but W Hill kills you with the vig. Monday night Balt was -125
     
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  14. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    "I never had to pay the vigorish he demands. Am I something special. What am I a schmuck on wheels? I didn't agree to 3 points above the vig. What am I, f'ing nuts?"

     
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  15. Eric1285

    Eric1285 Low-Roller

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    Wow...what happened to CG? I'm not a sports better, so I don't pay much attention...but I remember ~10 years ago they were at the forefront of sports betting technology. They were using their analytics arm to offer all sorts of prop bets....literally allowing you to bet individual play by play outcomes. From an analytical standpoint, I found it fascinating.
     
  16. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    They continually got in trouble for breaking the law and never developed a large footprint in Nevada.
     
  17. bubbakitty

    bubbakitty Doing retirement again and happily so....

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    Inner at the window because we can't bet in Texas so I don't have an app. But don't most locals and "regulars" use the app over paper tickets? And if so would it matter if WH acquired more should you use a different app?--like Boyd or nugget or CET or whatever. Or do locals mostly walk up like me?
     
    I hate needles so we’ll have to see.......but dislike funerals more
  18. 44inarow

    44inarow VIP Whale

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    Yes and no. Most of the non-WH sports books (including Caesars, MGM, Westgate, and Circa) are already all run by Stadium. The odds are mostly set internally, but the tech platform is outside the company.
     
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  19. 44inarow

    44inarow VIP Whale

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    WH is one of the easier apps to use because you can deposit at a 7-11 and other non-casino locations.

    It's a bit of a pain sometimes because all deposits have to be in person. For me, I'll use one of the apps if I remember to keep funds in my account, but otherwise just go to the casino.
     
  20. mjames1229

    mjames1229 # of visits includes only trips w/ hotel stays

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    I had used the Cantor Gaming app years and years ago and it was shitty. I wrote this in my TR from 2012...

    The problems that I had dealing with the sports betting app that I had downloaded to my phone was constant; every time I tried to make a bet or even reference my account ended in frustration. But if I referenced these problems in order as they occurred, it might give the impression that I was always angry or frustrated, and that was not the case. Everything (except this sports betting app) was as wonderful as could be hoped for, so let me get this rant out of the way.

    Cantor Gaming manages nine seven sports books in Nevada (Side note added 8 hours after first posting this; see the paragraph above the split for more details). They are marketing a phone app, and once you set up an account with a sports book and make a deposit, you can make a legal bet (within Nevada state lines) from anywhere, day or night. In past years, I’ve had an issue because I’d place a sports bet in whatever location I happen to be, then have to make a special trip back to that casino to cash a winner. I was very intrigued about the convenience that this app would bring. I should have been very concerned when, upon downloading the app at home, I couldn’t even enter the app in a demo mode to review it or to try to get comfortable with it.

    [...]

    Saturday around midnight from my hotel room, I decided to get my NFL bets in for the next day. Once I was done and tapped on “Confirm”, I got an error message that my location could not be confirmed. Assuming that my bets didn’t go through, on Sunday morning I entered those same bets again. Only upon confirmation of THOSE bets did I notice that the previous night’s bets had indeed been accepted. That wasn’t a big problem with my $25 on the Rams to cover against Seattle, it was a big problem with my $75 bet on the Packers.

    But that wasn’t the only issue. On Sunday, impulsively, I decided to bet on the Brewers to beat Houston. When I clicked on the game on the app, it also listed an over/under total of 4. Thinking that was awfully low for baseball, I bet heavy on the over. The Brewers lost the game 7-0, but as far as I recall, seven is greater than four, so I should have won that bet… but the app graded that as a loss.

    On Monday, I bet a few more baseball games and all of those over/unders were very low, so I bet all of those overs… and despite all of them “winning”, they were listed as losses. Monday night I tried to call the Tropicana to find out what was going on, and learned something that I did not know… you cannot contact a sports book by phone due to gaming laws. It actually makes sense, except that it is harder to argue about something when you can’t contact them. I was white hot about this Monday night, because I thought I was about $200 up, when the app told me I was about $100 down.

    So Tuesday on the way to the airport, I stopped at the Tropicana (so much for not having to make a special trip to collect sports bets).

    [...]

    Apparently I was betting the over/under of the First 5 Innings, not the game. Long story short, there is nothing on the app that SAYS you are betting the First 5 (or Last 4), but "I should have known the line wouldn't be five runs" (as the floor supervisor at the Tropicana told me). The prop bets also have a four-digit code instead of a three-digit code.

    Two problems with that... when placing a bet to a teller at a sports book, you announce your code (instead of saying "I want $20 on the Brewers", you find the code on the board and say "$20 on 541". But it is irrelevant on the phone app as you tap the screen with the bet you want to make, so I didn't even notice a code, much less how many digits there were. The other problem is that whether I noticed it or not, nothing on the screen (or even the confirmation screen) SAID that they were prop bets. The supervisor of the sports book was completely nonplussed about my issue (and to re-iterate, unless I knew these were prop bets, how the hell could I know they were prop bets? I thought they really were the final lines) and said that ultimately, I am responsible for the bets I make.

    That may be true, but this truly horribly produced and executed app did me no favors whatsoever. Granted, I could have won them all, and maybe I wouldn't feel so crappy about it. But this is Vegas. Fortune never smiles like that.

    EDITED TO ADD ON 10-11-12 @ 2:30 CDT - I just received an E-mail from Sarah Laufer, a Communicating and Marketing Associate wtih Cantor Fitzgerald/BGC Partners. Apparently it took less than eight hours for my blog to make it to her office. After reading about all of the issues that I encountered using their smart phone app, she sent an E-mail with the following ...

    "Please correct your article as Cantor Gaming currently manages seven race and sports books."

    I am speechless. But let the record show that I corrected MY error.


    I've also had a William Hill app and had no real problems, though when that balance hit $0 and I made another trip into Vegas, I decided to use the South Point app. That was only marginally better in February 2017 as mentioned in this TR...

    9:30 AM – Back down to South Point for their 10:00 AM poker tournament. Not having expected the Golden Nugget game to last so long, I didn’t get a chance to make my Super Bowl bets into the app so I started the process while waiting for the tournament to begin. A few years ago, I had downloaded the Cantor Gaming app and had all sorts of problems with it. Unfortunately, the app used through South Point wasn’t a heck of a lot better. For example, The list of available prop bets is about 20 pages long, and each is identified with a four-digit code like this….

    [​IMG]

    When you go to the window of the sports book, you’d say “Give me $10 on 3749”. The agent punches it into the computer and when the bet is booked, it spits out a ticket. Wouldn’t it make sense if there was a way I could punch the code and amount into the app? No such luck, though, as the display screen looked like this…

    [​IMG]

    TOTAL YARDS at TOTAL YARDS 62-1/2? For whom? Or which team? Huh? The only way to find out was to tap every single one of them individually until you found the bet that you'd want to make.

    From home, I had downloaded and printed the list of South Point props and had 55 different bets that I had wanted to make. The amount of time that it would likely take me to hunt and peck through every box was daunting, so I decided not to even start before the poker tournament. It also made me wish that I hadn’t downloaded the app and just read my list to a sports book agent, as there was no real line at this time in the morning.

    So as a three-times-per-year Vegas visitor, I found no real value in apps so I haven't used them lately. Hopefully as the sports betting gains more traction across the country, the apps will be designed to be more user friendly.

    Circa is doing some really nice things, so hopefully the independents remain a viable option to the behemoths.
     
    Super Bowl / Poker Trip Combo Platter
    Bowling the USBC National tournament, I hope.
    • Informative Informative x 2
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