After closing in on a takeover that amounts to $3.69 billion, Caesars Entertainment is purportedly now looking for a way to leverage its fast-paced sports wagering business further. It is being anticipated that the operator from Harrah might be dealing with sportsbetting.com last week over a market access contract.
According to the EKG line, which is a bi-weekly report published by the Eilers & Krejcik Gaming, the company is also hearing rumors about Caesars having a U.S. market accessible partner named Betway, which is a European virtual betting operator, and it has teased access to around 10 U.S. states.
At its core, Betway is a branch of Digital Gaming Corp, which has confirmed on its official website that Betway has already been live in around 20 regulated and established markets all across the world. But the Corp hasn’t mentioned anything about Caesar seeking U.S. access. Caesar is currently offering virtual sports wagering in Illinois, Colorado, Indiana, Iowa, Nevada, Michigan, Pennsylvania, and New Jersey.
Brisk Prolongs the Deal Making Process for Caesars
If news of a contract or similar deal between Caesars and Betway came out to be official, it would prolong the already busy period for the casino operator in the context of striking sports betting agreement.
The deal, which right at this moment cannot be discerned as an actual or rumored one, suggests that Caesars is not thinking about or planning to accumulate market access slots in an after-merger set-up with William Hill, and Caesar might look to dig in some of its held market access into William Hill’s after merger marketing budget set for the U.S.
Sports Betting Appears to Become Caesar’s Centerpiece
Being the second-largest casino operator on the Las Vegas Strip and having a profound regional portfolio, Caesar is on top of above anything a casino operator. However, sports wagering and iGaming are becoming increasingly crucial elements of the investment thesis.
A Chad Beynon analyst, Macquarie, says that the company is to generate $600 million in virtual earnings before taxes, interest, depreciation, and amortization in 2025. He predicts that after the William Hill gets closed, online casino and virtual sports betting will be worth around $34 billion to Caesars share price