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William Hill, a leading UK sports betting advocate are close to brokering a deal with America’s CBS Sports to further enhance it’s presence in the US, after a sports betting frenzy erupted in the US.
Potential Partnership
The announcement is imminent between William Hill and CBS Sports according to The Sunday Times. Rumour’s surfaced back in January of a potential partnership between the operator and the media group after talks commenced.CBS Sports are a leading media giant within the US, if the deal comes to fruition, William Hill will have the opportunity to advertise it brand to millions of people who visit the media group’s website each month.William Hill are amongst a string of operators outside of the US to broker deals within the US market. GVC Holdings and it’s MGM Resorts International partner signed a deal with Yahoo Sports last year. Flutter Entertainment who operate Paddy Power and Betfair brands are soon to become Fox Entertainment partners after their successful merger with the Stars Group.
Hard Year For UK Operators
After a depressing year for UK Bookmakers, William Hill are one of many who have seen significant losses within the industry due to stricter regulation from the UK’s Gambling Commission. Last year, FOBT’s maximum stake dropped from £100 to £2. This had a huge effect on William Hill’s profitability, which in turn saw 700 William Hill high street bookies close their doors.The UKGC pushed for a ban on gambling with credit cards, this will come into force April 2020, and will also have an effect on profits of UK facing operators.More UK operators are steering towards the rapidly growing US market, William Hill included, this could be just what they need to improve their financial performance in the future.