CG Technology is on the auction block and there are a few UK based bookmakers that may be in play to acquire the company. In addition to William Hill, online sportsbook operator Paddy Power/Betfair will be involved in the bidding as well. Betfair/Paddy Power is the world’s largest internet betting exchange and are big players abroad.
CG Technology , known as Cantor Gaming when the company first hit the Las Vegas sports book scene, opened their first Las Vegas sports book at the M Resort located on the far south end of town. After opening the sports book at the M Resort, CG Technology took over sports book operations at the Cosmopolitan, Venetian/Palazzo, Hard Rock, Palms, the Tropicana, and Silverton.
CG Technology is known for their innovation in live play betting as well as introducing a betting app to Nevada. They are also known for having some legal issues over the past year. Another thing CG Technology sports books has bragging rights to is being the first to release NFL win totals as well as taking a few six-figure bets from Floyd Money Mayweather.
This may not mean much for the existing resorts that use CG Technology to run their sports books as Betfair/Paddy Power would move into existing CG Technology Las Vegas sports books. With a lot of the infrastructure in place, perhaps a mild re-branding is all that would occur – if the glossy red furniture CG is known for goes away is yet to be seen. The Palms however will most likely head in another direction as Stations, who recently acquired the Palms, will establish their sports book operation once CG’s or whoever buys CG’s lease ends at the off-strip spot. Competition is good and having multiple sports book operators in towis a plus for sports bettors. Like E-40 says – everybody’s got choices…and when it comes to sports betting in Las Vegas, that’s a good thing.