William Hill has been one of the more recognizable names in the U.S. sports betting industry in the years since the Supreme Court overturned PASPA. But it appears that the name will soon be no more. After spending $3.7 billion to acquire William Hill, Caesars Entertainment will rebrand the newly acquired assets.
Time for customers to say goodbye to William Hill and hello to Caesars Sports, as has been seen recently with the big release of the Caesars Sportsbook app.
The goal is to have the rebranding completed by the start of the 2021 NFL season, but with more than 160 locations spread across 14 states and an online presence in nine, that may be easier said than done. And officials have recognized there is a real possibility the company will not complete the rebrand by then.
For those wondering if the acquisition and rebranding mean Caesars is making a move into the international market, it is not. Caesars will not be expanding operations overseas. Instead, the company has plans to sell off the overseas William Hill assets it acquired to focus on the U.S. market.
William Hill was founded in 1934 by English businessman William Hill (go figure!) but has changed hands many times over the years. Based in London, the company has had a strong presence in the UK sports betting market for many years.
That presence could lead to Caesars receiving some hefty bids from any European operators looking to expand. UK brands 888 Holdings and Apollo Global Management (which competed for William Hill with Caesars) are expected to make strong bids.
Analysts are projecting the winning bid will come in somewhere around $2 billion.
What does all of this mean for sports bettors in the U.S.?
It means a trusted and recognized name will soon disappear from the sports betting landscape. But it will be replaced by a name even more recognized and trusted by bettors in the U.S. So, while the name may change, as far as American bettors are concerned, nothing else has.
After not making much of a push to enter other states since the repeal of PASPA, Caesars will become an active player in several states and an industry leader.
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