Early on Tuesday, William Hill’s stock value rose by almost 85 after the British gambling operator became part of the multi-year deal with ESPN. According to preliminary expectations, the company is ready to capitalize on the opening of the US sports betting market and its development in the years to come.
The beginning of the week saw ESPN unveil co-exclusive deals with Caesars Entertainment and DraftKings, which sent the stocks of both companies higher. Considering the fact that William Hill is a sports betting partner and operator of Caesars Entertainment, the British gambling company is also expected to benefit from the aforementioned deals, as it would become an official odds supplier for ESPN across the entire list of its platforms. The American depository of the company saw a 9.3% increase in its share value on September 14th.
William Hill, which is currently among the largest gambling operators not only in the UK but on a global scale, too, has been making more efforts to take advantage of the US sports betting industry. For years, sports betting has not been a legal form of gambling in the US, unlike the UK, where it has been part of the legal gambling sector since the 1960s, making the recently opened US market a lucrative one for some of the biggest players in the sector, such as Flutter Entertainment, GVC Holdings and William Hill.
British Gambling Company Seeks Strengthening Its Footprint in the US
Since the US Supreme Court issued a ruling under which legalized sports betting could be offered across the country, William Hill has turned eyes to expanding its presence in the US to become one of the market leaders there. Initially, the gambling operator joined forces with Eldorado Resorts, which then merger with Caesars Entertainment, making William Hill the sports betting operator of Caesars. In addition, the British gambling company has a partnership deal with CBS Sports.
The deal is set to see William Hill have access to all platforms of ESPN, which would greatly boost the current exposure of the company in the country. Apart from that, the National Football League has returned, bringing a further increase in sports betting.
According to experts, the ESPN deal will help William Hill further expand its brand recognition and retail presence across the US. In addition, when Caesars completes its integration, William Hill will operate in over 170 retail locations in 13 US states, which would make it one of the best-positioned British gambling companies in the country, giving it an opportunity for future growth.
As confirmed by the Chief Executive Officer of William Hill, Ulrik Bengtsson, tens of millions sports fans would have a direct link to the British gambling operator’s odds and sports betting applications thanks to the ESPN deal, and that will help the company accelerate its leadership while it continues to expand its footprint in the US.