During an earnings conference on Wednesday, the CEO of Caesars Entertainment, Tom Reeg, announced the company will fully rebrand its sports betting products, replacing the William Hill name with Caesars’. Just before the upcoming football season, the company will also launch its Caesars Sports app, allowing punters to place online sports bets on the go.
While Reeg was boasting remarkable first-quarter earnings for Caesers Entertainment, he also noted that the giant company is planning to fully rebrand its sports betting products. This announcement followed the recent acquisition of the major British sportsbook William Hill in a deal estimated at $3.7 billion. The future plans of Caesars Entertainment are to fully dissolve William Hill and concentrate on establishing a strong presence in the US market.
Caesars to Launch a Rebranded Caesars Sports App Before the NFL Season
Reeg noted that the NFL season is a major event for the sports betting industry in the US, which is why the company plans to complete its rebranding before the upcoming season in September. With the launch of its new sports betting platform, Caesars strives to assert its dominance across different states where sports betting has been or will soon be legalized.
The acquisition of William Hill is also an important part of Caesars’ rebranding strategy. The British-based bookmaker entered the US market by offering regulated sports betting in states like New Jersey, Virginia, Colorado, and Tennessee. Despite that, the bookmaker could not surpass its competitors and fully grow its presence in the US. Many believe, however, that after the acquisition by Caesars, the rebranded sportsbook has great chances to become one of the leading sports betting providers in the regulated US market.
One reason why Caesars has a great potential to grow exponentially in the upcoming months is its partnership with the NFL. Following DraftKings and FanDuel, Caesars became the third exclusive sports betting partner of the major football league. This will allow the brand to better promote its upcoming rebranded sports betting app, especially as the new NFL season is approaching this fall.
Another smart move that could potentially help Caesars establish a strong presence in the US sports betting sector is its deal with ESPN, allowing it to be the exclusive odds provider for the sports network. Giving the company an even bigger exposure, such deals allow Caesars to have a very successful launch of their rebranded sports betting platform before the new NFL season.
Reeg also announced Caesars’ plans to sell all non-US assets of William Hill in the upcoming year. He noted that the giant company is competent to run a US business but does not feel confident in managing William Hill’s divisions outside the US. He also pointed out that the funds generated from the sale of the non-US assets will be used to increase the returns to shareholders. While the name of William Hill will be dropped, with its rebranded sports betting platform, Caesars hopes for a successful operation in the US.