William Hill is going through a major metamorphosis right now that involves a lot of moving parts. After Caesars Entertainment purchased the gaming operator, it began working on deals to offload portions of the company, but might want to think twice about others. As Caesars and William Hill were in the final stages of the acquisition, William Hill was busy with an acquisition of its own. It purchased Colombia’s Alfabet SAS gaming operator last December, which will give Caesars an important extension into the Latin American market. Alfabet SAS is now officially known as William Hill after the latter completed its rebranding of the company, and Caesars can check off one less exercise on its list of responsibilities.
William Hill Live In Colombia
William Hill didn’t say how much it paid for Alfabet when it acquired the company five months ago. However, the acquisition marked a huge step forward for the company, entering a Latin American country that is at the forefront of regulated gaming in the region. Alfabet has a license from the country’s Coljuegos gaming regulator to operate a sportsbook and online casino, giving William Hill immediate access to a well-established gaming market. The operator will reportedly manage its Colombia activity from its headquarters in Malta.
William Hill has now rebranded BetAlfa.co to William Hill.co after completing all the requisite paperwork and regulatory drills associated with high-profile acquisitions such as this one. Its CEO, Ulrik Bengtsson, said in a statement, “I am thrilled to see WilliamHill.co launched within such a short timeframe. This launch includes the full integration of the Alfabet team into our international business hub in Malta and marks our first entry into a regulated Latin American state.”
Caesars Still Shaping William Hill’s Future
Since first discussing the purchase of William Hill, for which it paid $3.7 billion, Caesars made it known that it would likely sell some non-US assets. There has been lot of interest from companies such as Apollo Global Management, Betsson and Entain, among others, willing to compete for the operator’s European gambling activity, which will almost certainly entice a bidding war for those assets. However, unless some ridiculously high offer is put on the table, Caesars isn’t likely to consider selling its golden egg in Colombia.
Gaining access to the relatively young legalized gambling market in Latin America offers huge potential for future growth. Countries across the region are exploring new gaming options, with Colombia, Brazil, Argentina, and a few others leading the charge. Having a solid position in Colombia will give Caesars significant leverage for expansion throughout all of Latin America moving forward. It will also be able to capitalize on the William Hill name, which is now found in nine markets around the world.