William Hill is in early talks to form a sports betting partnership with Penn National Gaming, according to reports in the UK media over the weekend.
The newly opened William Hill sportsbook at Ocean Resort, Atlantic City. A partnership with Penn National, America’s biggest regional gaming operator by number of states could give the British bookie unparalleled market access in the US. (Image: Ocean Resort)
The Times and City AM quoted “City sources” — a reference to London’s financial district — who said that talks were in “early stages.”
Penn National could be the biggest benefactor from the US Supreme Court’s decision to reject PASPA, federal legislation that prevented state-sanctioned sports betting. With 29 casinos in 16 states, the company is a superpower of the regional casino market, with the largest footfall across America.
A sports betting partnership with Penn would be a coup for William Hill, giving the British bookmaker unparalleled market access. Penn’s presence is due to increase from 16 states to 18 when its acquisition of Pinnacle Entertainment is finalized in the fall.
MGM-Boyd Deal to Challenge Penn
Recently, MGM agreed a partnership with Boyd Gaming, largely to enable both parties to compete with Penn as the digital sports betting landscape takes shape over the next few years. The deal will allow both parties to offer online gambling services in jurisdictions where either Boyd Gaming or MGM Resorts operate, increasing both operator’s reach to 15 states.
There’s been a period of furious deal making since the repeal of PASPA, as UK bookmakers jostle for strategic position in the emerging markets by partnering up with US operators. Those deals have escalated over the past two weeks as the first early-adopters, like New Jersey, Delaware and Mississippi, begin to roll out their operations.
At an earnings call on Friday, William Hill CEO Philip Bowcock outlined plans for further expansion in the US, mentioning unspecified deals with 11 casinos in Mississippi and one in West Virginia. Penn National operates five casinos in Mississippi and one in West Virginia.
Need to Succeed
William Hill is struggling on the domestic front having failed to complete a large-scale merger or acquisition like many of its competitors, while it deals with the fallout from the UK government’s decision to slash the maximum odds of fixed-odds betting terminals.
The company is looking to hit the jackpot in the US, where it is already the dominant sports betting player in Nevada and, recently, New Jersey.
At an earnings call of its own in late July, Penn National said it was preparing to launch sports betting operations imminently in three states.
“We are actively working in Mississippi, West Virginia and in Pennsylvania to hopefully get up by football season our sports betting operations there,” said CEO Tim Wilmott. “I have a high degree of confidence that in West Virginia and Mississippi, we’ll be ready for football season, and possibly in Pennsylvania as well.”
The post William Hill Aims to Pull Off Penn National US Sports Betting Coup appeared first on Casino.org.
Claim Football Free Bets
Up to £100 in Bet Credits for new customers at bet365. Min deposit £5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&C's apply.New customers only. Turnover Requirements are x 7 of your deposit and bonus amount. The bonus expires after 30 days. 18+ BeGambleAware. Full terms apply.New Customer offer. Place 5 x €10 or more bets to receive €20 in free bets. Repeat up to 5 times to receive maximum €100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. T&Cs applyNew customers only. Min Deposit £10. Deposit & bonus amount must be wagered 6 times (min odds 4/5) prior to withdrawing bonus funds and any winnings. Wins from real money bets withdrawable at any time. Bonus on sports betting only. T&Cs apply. New UK & NI customers only. 18+. Sign up using promo code ‘SPORTS60’. Deposit & place first sports bet at a minimum of £10 in one bet transaction at evens (2.0) +. £30 paid in free bets within 48 hours of bet settlement, expires 7-days after issue. Offer not available to those registering on 06/04/2019. E-Wallet & Prepaid Card restrictions apply. Your first bet must be settled within 60 days of bet placement. SMS validation may be required. Game restrictions apply. Maximum 30 Free Spins on selected games. Free Spins expire after 7 days. Full T&Cs apply.New William Hill online customers only. Min. unit stake of £10/€10 at odds of 1/2 or greater. Only the “win” part from EW bets will count. Free bet terms, payment method & country restrictions apply. Free bets credited as 3 x £10/€10. Free bet stakes are not returned as part of the settlement of successful free bets. All Free Bets must be wagered within 30 days.18+, Full T & C's Apply, gambleaware.co.uk.New Players Only. Minimum stake $/£/€10, minimum odds 1.5, stake not returned. 1 X wagering the winnings from the free bet. Wagering occurs from real balance first. Wagering requirement is calculated on bonus bets only, wagering starts from real funds. Free bet is valid for 7 Days from issue. Full Terms Apply.New customers only – Minimum deposit of £10 using deposit code 30f - A qualifying bet is a ‘real money’ stake of at least £10 (£20 e/w) placed on any sports markets - Minimum odds of 1/2 (1.5) - Free bets credited upon qualifying bet settlement and expire after 7 days - Free bet stakes not included in returns - Deposit method and withdrawal restrictions apply - full T&C’s applyT & C Apply. 18+. UK+IRE only. Min first bet £5. Must be placed within 14 days of account reg. £20 credited as 4 x £5 free bets. Not valid with CashOut. Free bet valid for 4 days.