By
Mike J. Davies
Editor in Chief at Casinos.US Updated: 05/23/2020
Mike is our Senior Editor and experienced gambling strategist. A former hockey player, he transitioned to the casino industry after finishing his B.A. in English. Blackjack systems, online casino guides, gambling terms, and more – Mike is familiar with all fine points of gambling.
Dice Chips Online Gambling, Photo by www.123rf.com
It has been revealed that sportsbook giant William Hill is set to launch a new online casino in the United States later this year. The move comes after William Hill, along with other sportsbooks, has lost millions of dollars as a result of live sports events being canceled because of the lockdown.
The shutdown of the sports world has had a huge impact on both sports betting handle and revenue, with sportsbooks like William Hill losing millions over the space of just two months. According to reports, William Hill hopes to make up some of these losses with the launch of its online casino in the United States.
According to figures, sportsbooks’ net revenue has plunged by 90% since sports events were canceled in March due to the COVID-19 global pandemic. At the same time, online casino operators have seen activity and revenue skyrocket, as more and more people have turned to online casino gaming during the lockdown period.
An official from William Hill said that, while its sports betting facilities had almost ground to a halt, it had used the time wisely to think towards the future.
A demo of its online casino offering has already been developed, and it is due to make its debut in New Jersey later this year. After this, it will be rolled out to every state that has legalized online gambling.
Up until now, Ulrik Bengtsson, the CEO of William Hill, has only revealed limited details about the online casino. However, in a recent interview, he said:
Casino will be helpful as we go on without sports. I’ve seen the first demo of the product and I’m confident it will be ready soon. The regulatory approvals are the unknown and the reason we are being cautious in saying the second half of the year.
He went on to say that the product was a very good one and that it was also an extremely competitive one. In a trading update, the company also confirmed that product development had accelerated during the shutdown of sports events, enabling the company to schedule the launch of the online casino for later this year.
The impact of the global pandemic on the world of sports and sports betting companies has been huge. With sports events being canceled or postponed, sports fans have had very little to bet on. While sportsbooks operators have tried to be inventive with regard to betting opportunities, revenue has hit record lows.
With the launch of its online casino, William Hill hopes to cash in on the growing popularity of online gambling. For many people, online casinos have provided much-needed entertainment during the lockdown, particularly with brick-and-mortar casinos being closed.
Many believe that even when the lockdown is over and restrictions are lifted, many gamblers will continue to enjoy online casino gaming. This could, therefore, give William Hill the chance to recoup some of the losses experienced over the past two months.
Jane ShawMay 18, 2024Read More
Jane ShawMay 15, 2024Read More
Jane ShawMay 13, 2024Read More
Jane ShawMay 11, 2024Read More