William Hill Sportsbook will soon be no more, and the Caesar Sports app figures to enter both the current and future United States legal online sports betting markets as a prominent player.
Following a nearly $4 billion purchase of William Hill in April, Caesars Entertainment plans to dissolve the popular U.K. brand in an effort to go all in on U.S. legal sports betting with the Caesars Sports app as its driving force.
During a first quarter earnings conference earlier this week, Caesars Entertainment CEO Tom Reeg outlined his company’s ambitious plan. In particular, he noted the strong tie between spend and market share, meaning that as Caesars gets finalizes its plans and begins its rollout in the coming months, it will likely emerge with a 1-2 punch of aggressive advertising campaigns and new player acquisition programs.
While Reeg highlighted the company’s positive quarter one cash flow, the money freed up in the planned sale of non-U.S. assets will likely be parlayed as part into part of the funds allocated for what is an anticipated aggressive spend.
William Hill Sportsbook to End, Caesars Sports App Coming Soon
There are a few various dynamics to consider following the William Hill acquisition by Caesars. William Hill became a factor in U.S. legal sports betting markets such as New Jersey, Tennessee, Colorado and Virginia, but never realized its full potential, perhaps in part because of the distractions of ongoing negotiations surrounding the eventual sale.
Despite the occasional local market grabby promo and a $2,021 risk-free bet that was available in certain markets earlier this year, William Hill just didn’t have the firepower or focus to pass some of its competition. However, with Caesars now in control, there are a few reasons to think a shift of the power structure could be on the horizon.
As Caesars works to unleash its brand new sports betting platform in the coming months, perhaps before or during the 2021 NFL regular season, it will enjoy some unique advantages.
Along with DraftKings and FanDuel, Caesars is now one of the NFL’s three exclusive betting partners. It also will hold the new naming rights to the Superdome in New Orleans. That should add serious weight to the brand, and as the NFL season progresses, its proximity to the NFL product figures to stimulate significant interest in its sports betting app.
Moreover, Caesars also has a deal with ESPN to serve as its exclusive odds provider, which is no minor detail. Such brand exposure to an eager NFL (and NFL betting) audience will help raise its profile as begins its initial push into both established and emerging markets.
Why the Caesars Sports App Will Matter
In short, Caesars, one of the United States’ most prominent and gambling brands, is going all-in on the emerging online sports betting market. The company can also look to rival operator BetMGM and its early returns, particularly in the Michigan market where it has thrived in early going, as a model for success.
With key partnerships in tow, and a willingness to spend, Caesars has the chance to provide an exciting alternative with its rebrand in already established markets and hit the ground running out of the gates in states that have yet to go live.