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Caesar Sells William Hill – What Would That Mean For The Betting Industry

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To understand the role of the three biggest companies in the betting industry, i.e., Caesar, William Hill, and 888 Holding Inc., you will have to go back to the years 2020. Well, in that year, Caesar, a giant casino company in the U.S., bought William Hill at £2.9bn to expand the casino business in the U.K. region. Moreover, Caesar Entertainment, who is well aware of the U.S. market, and most of the states also agreed for gambling, then why such a giant company sells out William Hill to 888 Holding Inc. Furthermore, what would be the future of the betting industry due to this deal? Well, some sort of questions was definitely popping up in your mind, and here you will get to know everything from scratch.

The Auction of William Hill

Last year, the auction process of William Hill was processed by Caesar Entertainment with an initial bid amount of £1.5bn. Still, the entry of three major companies in the race, i.e., Apollo Global, CVC Capital Partners, and 888 Holdings, took the bidding amount to £2bn. Interestingly, CVC Capital was quite sure to crack this deal because the company owned William Hill earlier. Likewise, Apollo Global was also at the top of the race chart, but twists and turns made 888 Holding the leading one, and finally, the company bought William Hill at the whopping price of £2.9bn.

What Next?

After the acquisition of William Hill, 888 Holding Inc., Management released the statement stating that it was a great deal that would give exposure to the betting industry, and the blend of online gambling together with 1,400 betting shops would be amazing.

The prime agenda of the 888 management is to give a safe gambling environment to the public and huge diversification of the gambling sector. Additionally, the 888 company is also planning to take advantage of the sports assets of William Hill by doing cross-marketing as 888 Holding itself deals on online sports betting sites. So, a new concept of cross-marketing will emerge that will be hugely applauded by the public.

888 Holding Inc – Winner of the Race

888 Holding is one of the major gaming and online platforms which offers a fair and secure gambling environment. The betting atmosphere covers online casinos, sports betting, online poker, and online bingo. 888 Holding Inc is a part of the 888 groups based in Gibraltar and is also listed on London Stock Exchange.

William Hill – At a Glance

The top three companies were in the race to acquire William Hill, but why is it so crucial for such companies? Well, this question may arise in your mind, so let’s see about this company.

William Hill laid the foundation stone of betting in 1934 with an aim to build a strong and secure betting market in the U.K. Since after the foundation, the company offered ample betting options, such as casino, poker, bingo, and others. In the present day, the company retains 1,400 betting shops which are handled by 12,000 employees. William Hill has now become a brand, and the streets around this company are always crowded. The company is also famous in the Internet as many sports fans around the world placed their bets online in William Hill using a VPN for the UK. This is one of the major reasons why the companies were rushing to acquire William Hill as they have don’t have to bother about the consumers.

Caesar Entertainment – The Company Sold William Hill

Now, you are very much aware of William Hill, and you may wonder why Caesar Entertainment sold such a big gambling company where it is getting consumers and ready to use gambling infrastructure? To know the answer, you must be familiar with the background of Caesar Entertainment.

Caesar Entertainment is the brand in the gambling industry in the U.S. that has spread its wings on other countries too. After getting success in the gambling industry, the firm initiated to give most of the luxurious services to the public and thus merged gambling and hospitality. In short, Caesar is also offering hospitality services which include resorts, and they are working under the sub-brand name of the company such as Horseshoe, Eldorado, and others.

Why Caesar Entertainment Sold William Hill?

William Hill is quite popular in sports betting, and Caesar was planning to expand its business by using its expertise. As the public in the U.K. are more fascinated with gambling, but as per the market, the USA was also the emerging gambling market where most of the states opened the door for the gambling companies. Intending to this, Caesar plans to focus more on the USA instead of the U.K. and thus planned to sell the stake of William Hill.

Now, it is very much clear about the twist and turns that took place amid the acquisition of William Hill. Moving ahead to the topic, you must know what the effect will be on the gambling industry. The takeover of 888 Holding Inc to William Hill will change the gambling scenario, and let’s see what the company has planned for the future.

888 Holding Inc Future Plan

After owing William Hill, the company is expecting to generate £100m yearly by using the William Hill assets and also by cross-marketing. Furthermore, William Hill was very much successful in the U.K. region, and retaining the same value will give good profit to 888 Holding Inc.

William Hill is a brand, and acquiring the same by 888 Holding Inc means a lot for its portfolio, especially in sports betting. Currently, no official from 888 Holding said about the future plan, but the authorities are taking this as a landmark and ready to expand the betting business.

Effect on Betting Industry

Acquisition of one company from the same domain to another is quite common in the financial market, and this is done to expand the business. Likewise, in the betting industry, the same thing has been done with the aim to provide ample betting services to the public in a secure environment. Now, with this William Hill evolution and the rise of Sbobet, the public will have much more options of where to place their bets. Undoubtedly, the acquisition symbolizes the rise of the gambling industry in the present era as the companies are giving much more to the public.

Bottom Line

The step taken by Caesar Entertainment to sell William Hill was justiciable as per the company’s view. Additionally, the acquisition of the same by 888 Holding Inc is also good for the gambling industry. In a nutshell, these companies get what they want; Caesar got a good amount against selling William Hill, and 888 Holding Inc’s plan became successful.

Industry News

Europe Sports Betting Market Size, Share & Trends Analysis Report 2024-2030 Featuring Bet365, William Hill, Betfair, Paddy Power, 888sport, Bwin, Unibet, Ladbrokes, MGM, and Betsson

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The “Europe Sports Betting Market Size, Share & Trends Analysis Report by Type, Platform, Sports Type (Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others), Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.

The Europe sports betting market size is anticipated to reach USD 65.54 billion by 2030 and is expected to expand at a CAGR of 9.9% from 2024 to 2030

The globalization of sports and the integration of international leagues and tournaments into European betting markets have fueled the growth of sports betting. Major sporting events such as the FIFA World Cup, UEFA European Championship, Wimbledon, and the Olympics attract widespread attention and betting interest from European consumers, driving significant betting volumes and revenues for sports betting operators, thus driving the growth of the sports betting market in Europe.

The COVID-19 pandemic had a negative impact on the European sports betting market. The cancellation or postponement of sports events during the pandemic restrained the market growth. With major tournaments, leagues, and competitions either suspended or canceled outright, the absence of live sports events severely diminished consumer betting opportunities. It led to a significant decline in betting volumes and revenues for sports betting operators.

The presence of favorable betting policies in the region is driving the growth of the sports betting market in the region. Many European countries, such as the UK, Ireland, Denmark, and France, have progressive policies promoting a competitive and well-regulated betting market. It facilitates the entry of new operators into the market and encourages competition, leading to innovation, improved services, and better value for consumers.

Moreover, established responsible gambling initiatives and regulatory bodies in Europe, such as the European Gaming & Betting Association, help build trust and confidence among consumers by promoting responsible gambling practices, ensuring fairness and transparency in betting operations, and providing avenues for dispute resolution, to protect consumers and maintain the integrity of the betting market, thus driving the growth of sports betting market in the region.

Europe Sports Betting Market Report Highlights

  • Based on the type of betting, the fixed odd wagering segment accounted for the highest revenue share of 27.7% in 2023 due to the stability and predictability of the payouts
  • Based on platform, the online segment dominated the market in 2023 and is expected to grow at a significant CAGR from 2024 to 2030. It can be attributed to the collaborations between sports teams, leagues, and betting companies, thus increasing the visibility of sports betting and attracting a larger customer base.
  • In terms of sports type, the football segment accounted for the largest revenue share in 2023. It can be attributed to the popularity of football in Europe due to popular football clubs like Real Madrid, Liverpool FC, FC Barcelona, and Manchester United.
  • The UK held a significant share of 34.6% in 2023 and is expected to grow at a significant CAGR during the forecast period. Favorable gambling policies in the country drive the market’s growth.

Company Profiles

  • Bet365
  • Ali William Hill
  • Betfair
  • Paddy Power
  • 888sport
  • Bwin
  • Unibet
  • Ladbrokes
  • MGM Resorts International
  • Betsson

Key Attributes:

Report Attribute Details
No. of Pages 80
Forecast Period 2023 – 2030
Estimated Market Value (USD) in 2023 $33.75 Billion
Forecasted Market Value (USD) by 2030 $65.54 Billion
Compound Annual Growth Rate 9.9%
Regions Covered Europe

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Europe Sports Betting Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing number of sport events
3.2.1.2. Growing number of sporting events and leagues in Europe
3.2.2. Market restraint analysis
3.2.2.1. Lack of unified regulations
3.2.3. Market opportunity analysis
3.2.3.1. Growth in E-sports audience
3.3. Europe Sports Betting Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis

Chapter 4. Europe Sports Betting Market: Platform Estimates & Trend Analysis
4.1. Platform Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Europe Sports Betting Market by Platform Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1. Offline
4.4.2. Online

Chapter 5. Europe Sports Betting Market: Type Estimates & Trend Analysis
5.1. Type Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. Europe Sports Betting Market by Type Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. Fixed odds wagering
5.4.2. Exchange Betting
5.4.3. Live/In Play Betting
5.4.4. eSports Betting
5.4.5. Others

Chapter 6. Europe Sports Betting Market: Sports Type Estimates & Trend Analysis
6.1. Sports Type Market Share, 2023 & 2030
6.2. Segment Dashboard
6.3. Europe Sports Betting Market by Sports Type Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1. Football
6.4.2. Basketball
6.4.3. Baseball
6.4.4. Horse Racing
6.4.5. Cricket
6.4.6. Hockey
6.4.7. Others

Chapter 7. Europe Sports Betting Market: Regional Estimates & Trend Analysis
7.1. Regional Market Share Analysis, 2023 & 2030
7.2. Regional Market Dashboard
7.3. Regional Market Snapshot
7.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.4. Company Profiles

For more information about this report visit researchandmarkets.com

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Leading online slot developer announces launch of Snoop’s High Rollers which will go live exclusively with popular crypto sportsbook and casino

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Gaming Corps, a publicly listed game development company based in Sweden, has signed a major deal that will see it launch an exclusive slot game in collaboration with rap legend, Snoop Dogg. The game will drop exclusively on Roobet, the online casino where Snoop Dogg is a brand ambassador. 

Snoop Dogg needs no introduction. He made his music industry debut when he appeared on Dr Dre’s 1992 album, The Chronic, and has since sold more than 50 million albums worldwide. He’s also made several movie and TV show appearances, making him one of the most iconic artists of all time.

The game is “Snoop’s High Rollers” and allows players to experience what it’s like to live life as a music legend. The soundtrack is inspired by Snoop’s early and later works and the main man has also narrated parts of the game to really bring it to life.

Snoop has also played a part in creating the gameplay, hand-picking mechanics and bonus features to really put his stamp on the game. Roobet has also got in on the action, leading to a unique online slot that will soar to the top of the charts among its players.

Snoop’s High Rollers will make its debut exclusively on Roobet, the crypto casino and sportsbook that has taken the market by storm since its launch in 2019. The casino’s team has put a comprehensive marketing strategy behind the game with plans to use it to drive new customer acquisition at scale.

“It is with much pride that we at Gaming Corps have had the chance to develop a game in close collaboration with Snoop Dogg and Roobet, where we have combined our unique gaming perspective with Snoop Dogg’s unparalleled style and charisma,” Juha Kauppinen, Gaming Corps CEO, said:-

“Our vision is to offer players an experience where music, culture and gaming merge into something extraordinary. Our close collaboration with Roobet has enabled us to do the impossible, namely world-class marketing, game release is planned for 20 of April. We’re thrilled, and discussions are already underway about several game concepts!”

Anthony Brennan, Head of Partnerships at Roobet, added: “Roobet loves pushing the envelope and never flinches at an opportunity to bring iGaming and pop culture together. Snoop loves his game, we love the game, and we’ve been delighted at the experience of building something that feels fresh in an industry full of remixes.

“We can’t say enough nice things about the Gaming Corps team, and we’re excited to hear what the gaming community has to say!”

 

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Industry News

IDnow Bridges the AI-human Divide with New Expert-led Video Verification Solution

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IDnow, a leading identity verification provider in Europe, has unveiled VideoIdent Flex, a new version of its expert-led video verification service that blends advanced AI technology with human interaction. The human-based video call solution, supported by AI, has been designed and built to boost customer conversion rates, reduce rising fraud attempts, increase inclusivity, and tackle an array of complex online verification scenarios, while offering a high-end service experience to end customers.

The company’s original expert-led product, VideoIdent, has been a cornerstone in identity verification for over a decade, serving the strictest requirements in highly regulated industries across Europe. VideoIdent Flex, re-engineered specifically for the UK market, represents a significant evolution, addressing the growing challenges of identity fraud, compliance related to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes and ensuring fair access and inclusivity in today’s digital world outside of fully automated processes.

As remote identity verification becomes more crucial yet more challenging, VideoIdent Flex combines high-quality live video identity verification with hundreds of trained verification experts, thus ensuring that genuine customers gain equal access to digital services while effectively deterring fraudsters and money mules. Unlike fully automated solutions based on document liveness and biometric liveness features, this human-machine collaboration not only boosts onboarding rates and prevents fraud but also strengthens trust and confidence in both end users and organisations. VideoIdent Flex can also serve as a fallback service in case a fully automated solution fails.

Bertrand Bouteloup, Chief Commercial Officer at IDnow, said: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition. In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding. With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”

Whereas previously firms may have found video identification solutions to be excessive for their compliance requirement or out of reach due to costs, VideoIdent Flex opens up this option by customising checks as required by the respective regulatory bodies in financial services, mobility, telecommunications or gaming, to offer a streamlined solution fit for every industry and geography.

Bouteloup added: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity – capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues. With bank branches in the UK closing down, especially in the countryside, and interactions becoming more and more digital, our solution offers a means to maintain a human relationship between businesses and their end customers, no matter their age, disability or neurodiversity.

“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”

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