This Week in Gambling

It’s been a crazy month for sports betting in America. Caesars Entertainment was brokering deals after being purchased by Eldorado Resorts. The biggest being their acquisition of William Hill. Their CEO, Tom Reeg, recently spoke to CNBC about the legalization of sports betting in this country, and how it’s one of the biggest growth opportunities for gaming in twenty years. “This is an enormous opportunity. I’d liken it to when states outside of Nevada and New Jersey started to legalize riverboat casinos in the ’90s,” Reeg said. “We think there’s a lot of money to be made here over time,…

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When a sports book in Costa Rica paid off over $46 million to the US Department of Justice, something seemed wrong. After all, what possible motivation would there be when they operate outside of American jurisdiction? Then, the “ah ha” moment! Their eyes were on the prize: A 5Dimes US market entry! The operator agreed to pay $46.8 million in a settlement with the DoJ following an investigation that the operator illegally targeting American customers. Shortly afterward, they announced plans to enter the regulated US sports betting market. In addition, it explained the decision to block US customers, effective 25…

In a move that is sure to shake up the gambling industry, Caesars buys William Hill for close to $4 billion. The deal was announced today, as shareholders of the British bookmaker will receive a 25% premium with a closing share price of 217.60 pence. The two companies said on Monday that they were in advanced talks over a possible offer at 272 pence for each William Hill share, which the U.K. company said was “minded” to recommend to its shareholders. ““William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers…

Virgin Hotels has announced that their property’s grand opening in Las Vegas has been set for January 15, 2021. Located in the space of the former Hard Rock Hotel & Casino, it will include a 60,000 square foot casino operated by Mohegan Sun. At a press event featuring property partners and investors the company said the revitalized property, part of Curio Collection by Hilton, will open as Virgin Las Vegas on that date, being revealed on a digital mobile billboard. The highly-anticipated arrival of Virgin comes as several new resorts are expected to be opening in the coming months including…

The war for US sports betting domination has begun, and with over $150 billion in annual revenue up for grabs the stakes are high. This week the first shots were fired in what is sure to be a long and hard fought battle.   Hello my friends! Thanks so much for streaming another edition of This Week in Gambling, where the battle for sports betting supremacy in America has begun… and that is this week’s big story! Betting on sports is now legal in 22 states and the District of Columbia. Plus, another seven states are currently considering regulating the…