UK commercial property bookmakers William Hill have announced that they have been granted non-restricted gaming licenses by the Nevada Gaming Commission, the highest level of license available in Nevada.
Commercial property bookmakers, William Hill, which provides betting and gaming services on the high street, by phone and online, employs around 16,000 people in the UK, Israel, Gibraltar and Bulgaria. It will be the first British commercial property bookmaker to be licensed for sports betting in America.
Last spring, William Hill entered mandatory agreements to acquire Brandywine Bookmaking LLC, American Wagering and the Club Cal Neva Satellite Race and Sports Book Division for approximately $49 million. These purchases were conditional upon William Hill being licensed by the Nevada Gaming Commission.
This will see commercial property William Hill running approximately two-thirds of the 180 commercial property bookies within Las Vegas casinos. They will be rebranded William Hill over time and the commercial property group has also applied for an online gambling licence.
Chief Executive of William Hill, Ralph Topping, said: “We are delighted to have been awarded a license by the Nevada Gaming Commission. A Nevada gaming license is recognised around the world as a significant regulatory seal of approval and we are proud to have earned it.
“We are now able to bring together these three businesses to create a leading position in the US sports betting market, combining our brand and product range with AWI, Brandywine and Cal Neva’s extensive footprint, strong local relationships and trusted service. We look forward to working with our new colleagues to grow a leadership position in the U.S. gaming industry.”
The deals will give the commercial property bookmaker a foothold in the US at a time when there is speculation that the country may move towards a controlled sports betting market.
Currently, sports’ betting is prohibited in 46 US states, although it is allowed in in Delaware, Montana, Oregon and Nevada states. Though the Department of Justice (DoJ) has made it clear that it regards sports betting as illegal, the three acquisitions will give William Hill access to the rising sports betting market in Nevada, home of the gambling haven Las Vegas, which was valued at $2.7 billion in 2010.
AWI runs 72 sports books, or sports-betting sites, in the US, while Cal Neva has 31, and Brandywine has 16. In addition, AWI supplies technology to larger commercial property casino groups in Nevada.
Vic Salerno of American Wagering will be appointed as Chairman of the newly founded commercial property bookmakers, William Hill US. Brandywine Bookmaking’s Joe Asher will take on the part of Chief Executive officer and Club Cal Neva’s Jeff Siri will become Chief Operating Officer.
Bookmakers William Hill was founded in 1934 and now has 2,370 commercial property betting offices providing customers betting opportunities in sporting and non-sporting events. The company is listed on the London Stock Exchange and generates yearly profits in excess of £1.1 billion a year.
