William Hill to spend millions in US sports book purchaseGambling company William Hill is a very large operation located in the UK. They are well known in the UK and have been in the gambling business for decades. The company is now looking to get into US market and to do so they are making a very big purchase.
William Hill has made a deal to purchase over one hundred different sports book sites all from different companies. American Wagering and the Club Cal Neva Satellite Race and Sports book division have all agreed to sell sites to William Hill in a deal which will see the UK giant paying out $39 million.
The sites are located in Nevada and they bring in about ten percent of the sports betting market in the state. William Hill will be purchasing American Wagering for $9.4 million part of which will be used to pay one of the company’s loans which are worth $4 million. They will be paying $21 million for the Cal Neva sites which are a good bit more than the other company.
This is a major deal in the online gambling industry especially since it involves the United States. The gambling industry has been struggling in the US but things have been looking up as so many individual states are trying to pass online gambling legislation. Many gambling companies are trying to get a foot in the US so when online gambling is passed they will already have operations running. By doing so, William Hill will already be ahead of their competition when it comes to US gamblers.
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