Kyle scott | 8 months ago
Last month, Caesars Entertainment landed William Hill Sportsbook in a nearly $ 4 billion acquisition. Despite the high price tag of acquiring the international sports games giant, you won’t see the William Hill brand for too long.
Following a multi-billion dollar acquisition by Caesars Entertainment, the William Hill Sportsbook brand will close its doors, giving way to the Caesars Sports app in the coming months. The app is expected to quickly gain prominence in the legal online sports betting markets currently established and about to launch in the United States.
Earlier this week, Caesars Entertainment CEO Tom Reeg outlined his company’s tiered plan to aggressively enter online sports betting gambling in the United States. A brand presence quickly expanded through partnerships with the NFL and ESPN, coupled with ambitious spending, should quickly bring the Caesars Sports app into the conversation as a preferred online betting destination.
Out with William Hill, using the Caesars Sports app
Notably, Reeg revealed that Caesars intended to sell William Hill’s non-U.S. Entities and reallocate that money to his sports betting efforts in the United States.
The concentration of Caesars, one of America’s best-known video game brands, makes sense. William Hill made a dent in various online sports betting markets including New Jersey, Illinois, Colorado and Virginia among others, but he never managed to step out of the shadow of DraftKings and FanDuel. in some states, and BetMGM in others.
But with the impending name change of the Caesars Sports app, the results can be quite different. In short, there are three key variables to consider regarding its likely emergence later this year.
For Caesars Sports app, visibility is key
For starters, Caesars has positioned itself well thanks to a partnership deal with the NFL. Along with FanDuel and DraftKings, Caesars recently became one of the league’s three official sports betting partners. Having significant visibility with football fans – and punters – should help raise its visibility once the 2021 season has kicked off.
Meanwhile, Caesars is also the official provider of ESPN programming odds. This is important because ESPN has increased the elements of sports betting organically in its television programming.
Such brand visibility, coupled with what should be an aggressive spending plan in terms of advertising, marketing, and new player acquisition, should bode well for future growth. In this way, Caesars could successfully gain a significant share in already established markets while positioning itself for strong launches as more states enter the fray of legal online sports betting.
A path to follow
Without a doubt, the Caesars Sports app will follow the path of rival operator BetMGM in states like Michigan.
Although BetMGM is an important player in markets like Tennessee, New Jersey and Pennsylvania, its success in the recently launched online sports betting market in Michigan proves that traditional brands can thrive against DraftKings and FanDuel.