SPOILER ALERT!
Nevada Gaming Board Approves William Hill’s CG Acquisition
Nevada has given green light for the acquisition of CG Technologies, formerly Cantor Gaming, by William Hill U.S.
William Hill Gets OK from Nevada to Acquire CG TechnologiesThe Nevada Gaming Commission has allowed Las Vegas sportsbook company CG Technologies to proceed with the sale of company assets to William Hill U.S., an established competitor on the U.S. market.
Some of the regulator's executives were reportedly relieved that CG would move forward under another company's umbrella as, over the past six years, CG had raked up a total of $10 million in fines in Nevada.
With the purchase of CG's assets, William Hill CEO Joe Asher confirmed that his company would effectively be taking over six established Las Vegas Strip properties, including:
* Venetian Las Vegas
* Palazzo
* Tropicana Las Vegas
* Cosmopolitan Las Vegas
* Palms
* SilvertonWilliam Hill is also taking control of 11 other sportsbooks in Nevada managed by the former Caesars Entertainment which completed a mega merger with Eldorado Resorts. Eldorado Resorts, the acquiring company, is also an active partnership with William Hill.
Following the board's approval, William Hill will now be able to expand its footprint in what the company considers its smallest market, the Las Vegas Strip. Yet, Asher and his lawyer Scott Scherer are putting a bigger significance on the deal.
First, it would allow William Hill to grow and secondly, the company would benefit from a “statewide market,” which reflects how sports betting in Nevada runs. Besides, Scherer noted that half of all bets were placed via a mobile sports betting app.
slot game William Hill's Offer Grows Stronger with CG's AssetsFurthermore, the company was able to provide the exact same lines and odds across every state in the United States. With the expansion, William Hill will now have more properties on the Strip, upgrading their count from what were previously just Circus Circus, Casino Royale, and Sahara.
Asher is looking to improve the existing portfolio of properties further. He will renovate both The Venetian sportsbook as well as invest in Silverton and provide sports fans with a state-of-the-art sports betting experience.
Asher explained to the NGCB that a litigation fee he was owed by CG was subtracted from the undisclosed price of the deal. The fee stemmed from a previous lawsuit that was filed Asher over whether he breached the terms of a non-compete agreement when he left CG back in 2007.
According to a Clarke County Court in Nevada, Asher was within his right. Asher used Nevada's decision to also announce that The Bahamas had approved a deal enabling William Hill to supply the Atlantis on Paradise Island with a risk management consulting betting platform.
Asher assured the Nevada Gaming Control Board that all existing sportsbooks will transition to William Hill's online offer seamlessly without any need for consumers to adapt to anything. CG's mobile user will switch to the William Hill mobile app and the company will further hire between 80 and 100 former CG employees to work in the now William Hill's sportsbooks.
Nevada is one of the most important markets for William Hill with 120 race and sportsbooks available in the state, and all connected with the mobile app. William Hill also runs operations in New Jersey, Indiana, West Virginia, Iowa, Illinois, and Colorado.
The company has secured licenses for running sports betting operations in other states as well, including New Mexico and Mississippi and the company is running a risk management service in Delaware and Rhode Island's sports lotteries.
William Hill Gets OK from Nevada to Acquire CG TechnologiesThe Nevada Gaming Commission has allowed Las Vegas sportsbook company CG Technologies to proceed with the sale of company assets to William Hill U.S., an established competitor on the U.S. market.
Some of the regulator's executives were reportedly relieved that CG would move forward under another company's umbrella as, over the past six years, CG had raked up a total of $10 million in fines in Nevada.
With the purchase of CG's assets, William Hill CEO Joe Asher confirmed that his company would effectively be taking over six established Las Vegas Strip properties, including:
* Venetian Las Vegas
* Palazzo
* Tropicana Las Vegas
* Cosmopolitan Las Vegas
* Palms
* SilvertonWilliam Hill is also taking control of 11 other sportsbooks in Nevada managed by the former Caesars Entertainment which completed a mega merger with Eldorado Resorts. Eldorado Resorts, the acquiring company, is also an active partnership with William Hill.
Following the board's approval, William Hill will now be able to expand its footprint in what the company considers its smallest market, the Las Vegas Strip. Yet, Asher and his lawyer Scott Scherer are putting a bigger significance on the deal.
First, it would allow William Hill to grow and secondly, the company would benefit from a “statewide market,” which reflects how sports betting in Nevada runs. Besides, Scherer noted that half of all bets were placed via a mobile sports betting app.
slot game William Hill's Offer Grows Stronger with CG's AssetsFurthermore, the company was able to provide the exact same lines and odds across every state in the United States. With the expansion, William Hill will now have more properties on the Strip, upgrading their count from what were previously just Circus Circus, Casino Royale, and Sahara.
Asher is looking to improve the existing portfolio of properties further. He will renovate both The Venetian sportsbook as well as invest in Silverton and provide sports fans with a state-of-the-art sports betting experience.
Asher explained to the NGCB that a litigation fee he was owed by CG was subtracted from the undisclosed price of the deal. The fee stemmed from a previous lawsuit that was filed Asher over whether he breached the terms of a non-compete agreement when he left CG back in 2007.
According to a Clarke County Court in Nevada, Asher was within his right. Asher used Nevada's decision to also announce that The Bahamas had approved a deal enabling William Hill to supply the Atlantis on Paradise Island with a risk management consulting betting platform.
Asher assured the Nevada Gaming Control Board that all existing sportsbooks will transition to William Hill's online offer seamlessly without any need for consumers to adapt to anything. CG's mobile user will switch to the William Hill mobile app and the company will further hire between 80 and 100 former CG employees to work in the now William Hill's sportsbooks.
Nevada is one of the most important markets for William Hill with 120 race and sportsbooks available in the state, and all connected with the mobile app. William Hill also runs operations in New Jersey, Indiana, West Virginia, Iowa, Illinois, and Colorado.
The company has secured licenses for running sports betting operations in other states as well, including New Mexico and Mississippi and the company is running a risk management service in Delaware and Rhode Island's sports lotteries.
City of Dreams Manila Undergoing Casino Operations Trial Runs
City of Dreams, the casino-type resort in the Philippines operated by a subsidiary of Melco Resorts, confirmed it was undergoing trial runs of its casino operations. The management of the resort informed local outlet GGRAsia that despite the tests, the casino property is still waiting for a reopening date for full operations to be set.
PAGCOR Granted Casinos Some LeewayBy the end of August, the gaming regulator in the country, the Philippine Amusement and Gaming Corp (PAGCOR) confirmed that it had allowed some of the land-based gaming facilities to reopen with limited capacity. The information regarding the 30% cap on the number of visitors and the strict health countermeasures against the further spread of the coronavirus was first disclosed by the City of Dreams' operator Melco Resorts.
“The trial run, as permitted by Pagcor, with invited guests at 30 percent capacity, continues, enabling us to fine-tune our services in compliance with government guidelines.”
Kevin Benning, Chief Operating Officer, City of DreamsThe Metro Manila area, where the City of Dreams is located is the region in the Philippine capital which encompasses the largest casinos in the city, and had its lockdown status eased back to general community quarantine from August 19, initially until the end of August, and then extended by President Duterte until at least September 30.
Dry Runs for Casinos in the Metro Manila AreaCasino resorts in the area that have been shut down since mid-March have been allowed to conduct “dry runs” of their casino operations during the period of quarantine relaxation. These dry runs have so far generated millions for at least three casino resorts, Solaire Resort and Casino, Resorts World Manila and City of Dreams Manila, according to their respective second quarter financial reports.
City of Dreams is a 6.2-hectare luxury resort located at the gateway of Entertainment City's Manila Bay in the city of Paranaque, and is a premier leisure and entertainment destination in the Philippines and Asia. The casino floor consists of 301 table games and 2,273 slot machines, as reported prior to the capacity constraints applied.
online gambling The casino resort is still waiting for a final reopening date, but its chief operating officer outlined when the property reopens, 4 restaurants, Crystal Dragon, Red Ginger, Noodle 8 and Wave, will also have a capacity limitation of 30%, with the rest of the food outlets gradually reopening in the subsequent weeks.
The three hotels in the City of Dreams, Nuwa, Nobu and Hyatt Regency, and their amenities, will resume operations with no capacity constraints. The same rule would apply to the shops and on-site banks, while the entertainment centre DreamPlay, The Garage VR Zone, the food park and the two spas will reopen afterwards.
The reopening would be in compliance with government regulations and measures will include face masks and face shields, physical distancing in the gaming and other public areas, distance markers, thermal temperature checks and frequent disinfection of high traffic areas.
PAGCOR Granted Casinos Some LeewayBy the end of August, the gaming regulator in the country, the Philippine Amusement and Gaming Corp (PAGCOR) confirmed that it had allowed some of the land-based gaming facilities to reopen with limited capacity. The information regarding the 30% cap on the number of visitors and the strict health countermeasures against the further spread of the coronavirus was first disclosed by the City of Dreams' operator Melco Resorts.
“The trial run, as permitted by Pagcor, with invited guests at 30 percent capacity, continues, enabling us to fine-tune our services in compliance with government guidelines.”
Kevin Benning, Chief Operating Officer, City of DreamsThe Metro Manila area, where the City of Dreams is located is the region in the Philippine capital which encompasses the largest casinos in the city, and had its lockdown status eased back to general community quarantine from August 19, initially until the end of August, and then extended by President Duterte until at least September 30.
Dry Runs for Casinos in the Metro Manila AreaCasino resorts in the area that have been shut down since mid-March have been allowed to conduct “dry runs” of their casino operations during the period of quarantine relaxation. These dry runs have so far generated millions for at least three casino resorts, Solaire Resort and Casino, Resorts World Manila and City of Dreams Manila, according to their respective second quarter financial reports.
City of Dreams is a 6.2-hectare luxury resort located at the gateway of Entertainment City's Manila Bay in the city of Paranaque, and is a premier leisure and entertainment destination in the Philippines and Asia. The casino floor consists of 301 table games and 2,273 slot machines, as reported prior to the capacity constraints applied.
online gambling The casino resort is still waiting for a final reopening date, but its chief operating officer outlined when the property reopens, 4 restaurants, Crystal Dragon, Red Ginger, Noodle 8 and Wave, will also have a capacity limitation of 30%, with the rest of the food outlets gradually reopening in the subsequent weeks.
The three hotels in the City of Dreams, Nuwa, Nobu and Hyatt Regency, and their amenities, will resume operations with no capacity constraints. The same rule would apply to the shops and on-site banks, while the entertainment centre DreamPlay, The Garage VR Zone, the food park and the two spas will reopen afterwards.
The reopening would be in compliance with government regulations and measures will include face masks and face shields, physical distancing in the gaming and other public areas, distance markers, thermal temperature checks and frequent disinfection of high traffic areas.
