Caesars Sports Fires Longtime Bookmaker Nick Bogdanovich

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Longtime Las Vegas bookmaker Nick Bogdanovich confirmed to media that he has been fired by Caesars Sports just four months after Caesars Entertainment completed its $4 billion acquisition of William Hill and named Bogdanovich as its vice president of trading.

According to a text message to the Las Vegas Review Journal, Bogdanovich merely said that Caesars “wanted to go in a different direction” He refused to make further comments.

William Hill Sportsbook Director

Prior to being the vice president of trading at Caesars, Bogdanovich served as William Hill sportsbook director since 2012.

As sportsbook director, Bogdanovich was in-charge of risk management and ensuring that the company’s trading department complies with the Nevada Gaming Regulations. Bogdanovich also made sure that William Hills’ betting meny is the best in class.

Unless he decided to take a break, it’s unlikely he will be jobless for long. With his knowledge, experience and worldwide contacts would make him a valuable asset to any sports betting organization.

With the sports betting industry wars heating up right now, several competitors are already rumored to be in talks to sign Bogdanovich to their fold.

Bogdanovich Rose from the Ranks

Bogdanovich rose from the ranks to become one of Sin City’s top bookmaker. He started his sports betting industry career in 1986 as a ticket writer at the Sand sportsbook in Las Vegas. He also spent nine years as Binion’s Horseshoe sportsbook director and was also in-charge of sportsbooks at the Stratosphere, Mandalay Bay, and the Golden Nugget.

A native of Las Vegas who attended Western High School, Bogdanovich played college basketball while earning a degree in business administration from Lewis-Clark State College in Lewiston, Idaho.

He was a director of bookmaking operations at Club Cal-Neva sportsbooks when the latter and the American Wagering and Brandywine Bookmaking were bought by William Hill for $55 million in 2011.

BetMGM Washington DC App Expected to Launch Soon

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Sports betting enthusiasts in the Nation’s capital are excited as the BetMGM sports betting app in Washington DC is one the verge of its launch.

BetMGM’s upcoming presence in Washington D.C. is the fruit of the partnership it signed with the Washington Nationals last January. Under the agreement, the BetMGM app will only be accessible within a two-block radius within the Nationals stadium. Still, it’s a welcome addition to the growing sports betting industry in Washington DC.

Geofenced Sports Betting Apps

GameBet DC, operated by Intralot, currently offers the District’s only online sports betting app because the DC Council greased through a contract for its Lottery provider.

However, sportsbooks partnered with sports arenas are allowed to offer mobile legal Washington sports betting though these apps are geofenced two radius within its partner arena as well as retail shops in the vicinity of their partner stadiums. This is where BetMGM entered the D.C. sports betting scene.

William Hill has a retail sportsbook at the Capital One Arena which is already operational. It also launched its mobile app late last month. Meanwhile, the FanDuel retail sportsbook has set its opening at Audi Field to later this year. FanDuel is also slated to launch its legal Washington sports betting app within the same time frame.

Long Partnership With the Washington Nationals

MGM has a long partnership with the Washington Nationals. The two companies started their marketing partnership in 2017 when the team unveiled the MGM National Harbor Dugout Club, which is a small section of luxury field-level seats. MGM Resorts International is also MLB’s official gaming partner.

This summer, BetMGM is expected to launch a retail sportsbook located in the space currently serving as Center Field Social, across Center Field Plaza from the Nationals team store. The sportsbook won’t be accessible to fans watching the Nationals game but they will be able to place sports bet using the BetMGM sports betting app

The BetMGM app includes exciting options like parlay bets and in-game betting. It also has a wide variety of sports to bet on. It is expected to engage Nationals fans with the game in new and exciting ways.

Tennessee Lottery Approves Two More Sports Betting Operators

Two Laptops Showing Sports in Front of a Pile of Money
The online-only Tennessee sports betting industry just got bigger last week with the addition of two more online gambling operators.

In an announcement made last Friday, the Tennessee Lottery’s Sports Wagering Committee has approved licenses for two more Tennessee sports betting online operators, bringing the total number of online sports betting options in the Volunteer state to seven.

Lottery CEO Rebecca Hargrove revealed that Willian Hill and Wynn Sports have been granted permission by the Commission to commence Tennessee sports betting activities. However, Hargrove added that the two new players and Churchill Downs won’t have their sportsbooks live when the NFL plays it championship game next weekend at Super Bowl LV. DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7 are the four sportsbooks ready to accept Super Bowl bets in the Volunteer State.

Affected by Christmas Day Explosion

A reason why one of the new Tennessee sports betting company won’t be able to go live on February 7th is the fact that its server was affected by the Christmas Day explosion in Nashville. The blast injured a dozen people and saw several buildings damaged. While the operator was not identified, the issue with its Nashville server isn’t expected to be resolved in time for SuperBowl Sunday.

Meanwhile, Churchill Downs received approval in early January. It will operate under a BetAmerica sportsbook that is being rebranded as TwinSpires but the company has not set a launch date. WynnBET Tennessee has likewise not announced when it will go live while William Hill is expected to commence operations next month.

$180M December Handle

Tennessee passed the United States’ first online-only legal sports betting law in 2019 with Republican Governor Bill Lee allowing the bill to pass without his signature. The law took effect that summer with the Lottery tasked to administer Tennessee sports betting. Online sports betting began last November for people 21 and over who are physically in the boundaries of the Volunteer state.

Last Tuesday, the Tennessee Lottery reported a December 2020 betting handle of $180.9M which represented a 37.7% increase from the state’s $131.4M haul in its debut month last November. Gross payouts in December were recorded at $167M which was a significant 41% increase from the previous month’s $118.2M. The state received a privilege tax of $3.1M for December 2020, a 29.2% increase from November’s $2.4M figures.

William Hill Sports Betting App Launched in Washington D.C.

Sports Betting Graphic and Man Holding Fan of Money

William Hill launched its sports betting app in the Nation’s capital earlier this week after securing approval from the D.C. Office of Lottery and Gaming. However, there is a catch.

Because William Hill received a Class A sports betting license, it’s mobile app is only allowed to be used within two blocks of the Capital One Arena. That’s because a Class A gaming license is reserved for facilities located inside the city’s four major sports stadiums and arenas.

William Hill is the exclusive sports betting partner of the Washington Wizards, Washington Capitals, and Washington Mystics who all play their home games at the Capital One Arena.

App Not Available Everywhere

The William Hill sports betting app will offer several types of bets including in-play wagering and parlay cards that will link multiple bets. Starting this past Tuesday, it is available for download in any Apple or Google devices. But like D.C. Lottery’s Gamebet DC sports betting app, it isn’t available for use inside federal buildings.

But while the two block radius distance from the Capital One Arena and the prohibition of use inside government buildings is a limitation for the William Hill sports betting app, it’s launch will give DC sports bettors a solid alternative from the existing Gamebet DC sports betting app. William Hill is known to give the best user experience while also offering very competitive odds.

First Sportsbook Inside U.S. Sports Venue

Last July, William Hill also launched a pop-up sportsbook inside the Capital One Arena. It is also awaiting the completion of the construction of a full-service retail sportsbook in the venue. That project is in partnership with Monumental Sports & Entertainment which owns the Wizards franchise.

Once finished in the spring of 2021, the brick and mortar William Hill sportsbook at the former Greene Turtle Bar at the corner of F and Sixth Streets NW at the arena will have a restaurant and it will offer a first-of-its-kind experience for Washington sports fans and bettors. It will also be the first retail sportsbook to operate inside a U.S. sports venue.

William Hill vs Gamebet DC

The arrival of William Hill in D.C. has given Gambet DC stiff competition. William Hill’s pop-up sportsbook took $13.7M worth of bets with a reported $2.73M in gross gaming revenues in November. In contrast, Gamebet DC took in just $3.9M in sports bet during the same month.

The launch of its sports betting app only looks to make William Hill’s D.C. presence even stronger. Aside from D.C., William Hill has offers its mobile sports betting app in seven other states, namely Colorado, Illinois, Iowa, Nevada, New Jersey, and West Virginia. It also operates the trading services for the Rhode Island Lottery mobile app.

Caesars’ Clears Antitrust Period For William Hill Takeover

Caesars Entertainment Logo
Caesars Entertainment announced on Monday that it has cleared the federal anti-trust waiting period for its pending $3.7B purchase of U.K. based online bookmaker William Hill.

The waiting period is a period of time when mergers and acquisitions are examined for potential antitrust issues and conflicts. It is also a requirement under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. On Monday, the Las Vegas based gambling operator announced the early termination of that waiting period effective December 28, 2020. In a statement, Caesars also said:

“Caesars continues to progress through obtaining all necessary regulatory approvals required to close the transaction and is still aiming to complete the proposed combination in March 2021.”

Pending Approvals

Caesars Entertainment also revealed on Monday that both the Mississippi Gaming Commission and the West Virginia Lottery have signed off on the petition on November 19 and December 16, respectively.

However, approvals need to be obtained from the remaining gaming commissions of Indiana, Nevada, New Jersey, and Pennsylvania. Similarly, the transaction also requires the approval of the English High Court as well as administrative and post-closing approvals from other U.S. agencies.

Shareholders Approval

Just over a month ago, William Hill shareholders voted to approve its takeover by Caesars Entertainment. 86%of the votes cast were in favor of the $3.7B merger. The shareholders of the British firm accepted the recommended 272p cash offer from Caesars by the requisite majorities, subject to the remaining outstanding regulatory conditions and final approval of the English Court.

William Hill US has more than 170 retail locations across 13 U.S. states and owns 29% of the market share in the United States sports betting industry. Analysts estimate that the merger could add some $2.5B in equity to Caesars which operates a total of 54 gaming properties across 16 states. It currently owns 20% of William Hill USA as a result of a previous deal.

William Hill Shareholders Approve Caesars Entertainment Takeover

Odds Board and MoneyCaesars Entertainment’s proposed takeover of William Hill has been approved by the latter’s shareholders, paving the way for the “historic acquisition” to be completed next year.

In a virtual vote held on Thursday, over 86% of William Hill shareholders accepted Caesar Entertainment’s $3.7B bid for the U.K. bookmaker, subject to the approval of the English court. The number was easily more than the 75% needed to consummate the deal.

Both parties are said to be making progress towards securing all the necessary regulatory requirements needed to close the transaction. According to Caesars, they are expecting to conclude the deal by the end of the second quarter of 2021.

Said Caesars Entertainment CEO Tom Reeg:

“We are pleased to have received William Hill shareholder support for our recommended cash offer. We will continue to work towards satisfying the remaining regulatory conditions and look forward to completing the transaction next year and integrating William Hill US into our Caesars sports betting and iGaming franchise.”

Focus on US Assets

Caesars Entertainment has made it clear that its focus is on William Hill’s U.S. bookmaking business which consists of 170 retail shops in 13 different states. The owners of Caesars Entertainment added that they intend to sell the U.K. bookmaker’s non-US operations, including 1,400 U.K. betting shops.

Last week, GVC Holdings CEO Shay Segov said via Bloomberg that his company is interested in making a bid for William Hill’s UK and European assets. Also reportedly interested in bidding for William Hill’s non-US assets is Apollo Management Corporation which previously backed out of a bidding war with Caesars Entertainment for the entire William Hill business. Apollo is said to be particularly interested in William Hill’s UK business. William Hill’s online revenue in the UK is twice as large as its overseas online income.

Monumental Acquisition

Last September, Caesars Entertainment agreed to a monumental acquisition of the British-based gambling company. The move was aimed at the expansion of its share in the U.S. sports betting industry which has exponentially grown since the U.S. Supreme Court repealed the 1992 Professional and Amateur Sports Protection Act.

Caesars Entertainment currently owns 20% of William Hill’s U.S. operations. Under the current partnership, William Hill  has the exclusive right to operate sports betting under the Caesars brand. Caesars believes that merging the assets of both companies represents a compelling opportunity to improve the offering and experience for their customers.

The Caesars-William Hill Takeover Has Officially Been Confirmed

Over the past few years, Caesars has grown to become one of the most powerful gambling companies in the world. Rumors of this company acquiring William Hill have been circulating for weeks. New reports are now surfacing that the Caesars-William Hill takeover has been officially confirmed.Handshake Picture

This is another huge move for Caesars. Today, we’re going to look at the specific details of this massive new acquisition. We’ll also talk about what it means for the US gambling industry moving forward.

Let’s get into it!

Caesars is Now the Biggest US Casino Companies

There’s a good chance you’ve heard about Caesars sometime over the past few years. Back in mid-2018, news broke that the company was being taken over by Eldorado Resorts. This merger cost an astounding $17 billion and would form the largest US casino company in history.

This deal took much longer to complete than many initially predicted. Both Caesars and Eldorado Resorts needed to gain approval from various state gambling commissions. The companies also needed to receive permission from the FTC for the merger to finalize.

Finally, this summer, the merger was completed. Eldorado decided to retain the Caesars name, yet kept the company’s headquarters in Reno, Nevada. As of now, Caesars owns and operates 50 major casinos around the country.

The merger didn’t finish at the most ideal time. At the time of its completion, the US casino industry was still struggling to get back on track. Even today, land-based casinos around the country are still seeing significantly lower revenue earnings than they did in 2019.

Some felt that Caesars would simply hold back and wait while the gambling industry recovers. That doesn’t appear to be the case. This massive company is now set on taking over one of the world’s largest sports betting operators.

New reports claim this deal has officially been agreed to.

The Caesars-William Hill Takeover is Now Confirmed

As we just mentioned, the US gambling industry is in a very unusual position right now. Land-based casino earnings have been dropping, yet many states are seeing massive surges in sports betting revenue lately. That fact seems to have gained the attention of Caesars, which is now looking for new ways to profit off this industry.

Reports recently surfaced that William Hill was receiving offers from several companies for a potential buyout. That included Caesars, although the specific bid amount was not revealed. News has now broken that the Caesars-William Hill takeover is officially underway.

According to these reports, Caesars paid $3.7 billion to acquire the company. Company officials claim to be mostly interested in William Hill’s U.S. assets and plan to sell the majority of the company’s operations in the United Kingdom and elsewhere around the world.

Tom Reeg, CEO of Caesars, spoke about the new deal with the media this week.

“The opportunity to combine our land based-casinos, sports betting and online gaming in the U.S. is a truly exciting prospect,” Reeg said. “William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing U.S. sports betting and online market.”

Interestingly, Apollo Global Management has also acquired a piece of William Hill. Some analysts speculate this company will take over the brand’s UK assets. That has yet to be officially confirmed.

This is a huge move for Caesars and should help the company establish a foothold in the sports betting market. What states will this company now begin to focus on?

US Sports Betting Market Continues to Grow

It’s been more than two years since the US Supreme Court struck down PASPA. Doing so gave every state in the country the ability to legalize sports betting. Today, 24 states have approved legislation to legalize and regulate their sports betting industries.

Unlike the land-based casino industry, sports betting has been surging this year. Many of the top US sports leagues have resumed their operations. As more seasons begin to start, sports gambling revenue increases around the country.

Revenue has been growing particularly quickly over the past couple of months. Not long ago, New Jersey saw a record-high level of sports betting revenue. Colorado has also been seeing massive earnings from this industry.

The 2020 NFL season officially began earlier this month. With the league now up and running, sports betting has been surging. Many analysts predict that states will see another record set during the month of September.

William Hill already operates in several states. With the Caesars-William Hill takeover now confirmed, it’s likely that the company will begin focusing more on states where sports betting has only recently been legalized. It certainly comes at a good time.

Are you surprised to hear that Caesars has purchased William Hill? Will this be a smart long-term investment for Caesars? Let us know in the comments section below!

William Hill Receives Offer from Caesars and Apollo For a Potential Takeover

Caesars Entertainment
William Hill Plc announced last Friday that it has received separate offers from Caesars Entertainment Inc. and Apollo Global Management Inc. for a potential takeover.

The U.K.-based sports betting company said that talks on the two different cash proposals are ongoing but added that it remains uncertain if there will be a formal offer presented. William Hill said in a statement that both Apollo and Caesars have until October 23rd to make a formal offer or walk away from a potential deal as per UK takeover rules.

Per William Hill:

“Following an initial written proposal from Apollo on 27 August 2020, William Hill received a further proposal from Apollo and proposals from Caesars.”

Shares Surge

Shares of William Hill surged as much as 41% in London trading on Friday, which was an intraday record. The UK bookmaker now has a market value of about $4B. Rival betting companies also saw their stock rise last Friday with GVC Holdings Plc putting on an extra 15.5% and Flutter Entertainment Plc gaining 6.7%. Similarly, shares for Apollo was up by almost 3% while Caesars jumped by as much as 8.4%.

Apollo has a history of making investments in the gambling sector. In 2008, it joined forces with TPG for the buyout of Harrah’s Entertainment Inc. which was subsequently renamed as Caesars. Last year, the buyout firm also acquired a share in Italy’s Gamenet Group SpA.

Partnership With Caesars

William Hill already has a partnership with Caesars. Earlier this month, it was announced that Caesars had forged a deal with ESPN to link William Hill’s sports betting app in states where sports betting is already legalized in the United States. William Hill has also been appointed as the official odds provider of ESPN and as such, it will appear in all of ESPN’s platforms.

Last month, ESPN opened a high-tech studio at the Linq Hotel + Experience. The 6,000 square foot facility has been tabbed as the epicenter of ESPN’s sports-betting themed content. ESPN’s “Daily Wager” program was also transferred to the new studio which will broadcast Las Vegas-exclusive sports betting and entertainment news.

One of the World’s Largest Sportsbooks

William Hill is one of the largest sportsbooks in the world with offices in 10 different countries. Since Chief Executive Officer Ulrik Bengtsson took over last year, the company has been focused on building its online business.

Since the United States Supreme Court repealed the Professional and Amateur Sports Protection Act in 2018, William Hill has been building up its presence in the U.S. The American market has become more attractive for the company after UK gambling regulators slapped a stake limit on betting machines. This regulation led to the closure of 700 shops in Great Britain.

William Hill and CBS Rollout New Fantasy Football Offerings

William Hill
William Hill US and CBS Sports announced on Wednesday that they are rolling out new product offerings to kick off their partnership ahead of the fantasy football season in the US.
The fantasy football season follows the schedule of the current NFL Season which begins on Friday, September 10, 2020 and ends on January 3, 2021.

In a statement released on Wednesday, William Hill President of Digital Ken Fuchs said:

“Our partnership is a first-of-its-kind, creating an experience geared to the sports fan and fantasy player that showcases William Hill content and products across the CBS Sports Digital landscape. We’re ready for fantasy football season to begin and can’t wait to introduce fans to the future of sports betting while taking their game to the next level.”

Educating Sports Fans

The rollout includes a new parlay free-to-play game as well as extensive odds and data coverage across all CBS platforms. Product integration also involves fantasy game enhancements, interactive betting markets within scoreboards, and extensive betting content. It also gives sports bettors access to educational tools such as prop and bet calculators.

According to William Hill, most of the offerings are intended to educate sports fans on how to make picks for fun, understand the sports betting market, and go directly to William Hill’s products to complete their betting transactions seamlessly in states where it is live.

Currently, William Hill US is available in 11 states where sports betting has been legalized plusThe Bahamas and the District of Columbia. Its mobile offerings are available in Colorado, Iowa, Nevada, New Jersey, and West Virginia.

Exclusive Sportsbook and Wagering Data Provider

Last February, William Hill took a huge step in its US expansion when it announced that it had forged a strategic partnership that would make it the exclusive sportsbook and wagering data partner of CBS Sports across all platforms, including CBS Sports Fantasy which is one of the largest fantasy platforms in the world.

Under the agreement, CBS Sports will utilize William Hill’s odds, experts, and more than 140 sportsbooks to solidify its digital presence. In return, William Hill will receive exclusive rights to promote its brand across all CBS Sports’ range of digital properties, including CBS Sports Fantasy.The deal kicked off with the initial integrations last March and with the start of the NFL season, the full rollout is now live.

The new betting experiences are currently rolled out across all CBS platforms including CBSSports.com, CBS Sports Fantasy, SportsLine, CBS Sports HQ, and CBS Sports Fantasy Mobile Apps.

NGCB Approves William Hill’s Takeover of CGT Operations in Las Vegas

William Hill

British company William Hill has received the green light to purchase CG Technology’s operations in Nevada. On Thursday, the Nevada Gaming Control Board approved Wiliam Hill’s takeover of CGT’s assets in the Silver State.

William Hill CEO Joe Asher said that he was excited with the approval of the acquisition. He added that they have started discussions with Las Vegas Sun for the renovation of the Venetian sportsbook. Asher also said that they are looking to renovate Silverton:

“There are some things we will do a little differently. We just wanted to get the finish line. We’ve invested millions into sportsbooks in this state.”

Significant Presence on the Strip

The approval will allow William Hill to take control of the sportsbooks of The Venetian Las Vegas, Palazzo, Tropicana Las Vegas, Cosmopolitan of Las Vegas, Palms, and Silverton. All casinos are on or near the Las Vegas Strip which is a market where William Hill can grow.

Willam Hill announced the planned takeover last year. As one of the largest sportsbooks in the world, William Hill already has a strong presence in Nevada. Prior to the news of its proposed acquisition of CGT’s assets, William Hill operated 113 race and sportsbooks in the Silver State. However, it lacked a significant presence on the Strip.

The deal effectively removes one competitor from the picture and puts William Hill brand in some of the Strip’s most shiny casino gems. Nevada is currently home to around 200 sports betting locations and the British company continues to grow its presence in the U.S. market.

End of The Road For CGT

Asher was the managing director of CG when it came to Nevada during the mid-2000s. It was then known as Cantor Gaming and was the sports betting branch of the financial company Cantor Fitzgerald. Asher quit in 2007 to form his own sportsbook firm called Brandywine Bookmaking which quickly grew into 16 race and sportsbooks in Las Vegas under the name Lucky’s Race and Sports.

For its part CG has a history of being penalized by the Nevada Gaming Control Board. It has been penalized three times for various violations including allowing out-of-state wagers, accepting bets after the conclusion of events, and paying out too much and too little on some wagers. CG paid a total of $10M across those violations.

ESPN also reported that CG was involved in in an “illegal gambling and money laundering scheme” which cost it another $22.5M in federal penalties. The NGCB had threatened to revoke CGT’s license as recently as last year but it survived the storms. However, this latest development does look like the end of the road for CGT in Las Vegas.