William Hill, the bookmaker with its eyes firmly set on the growing U.S. sports gambling market, is filling in all the pieces to its betting puzzle. With a little crafty negotiating, it will be an all-encompassing operator that can cover every aspect of the industry. The U.K.-based company is close to being able to fit one more piece into the puzzle as it appears back at the table with CBS Sports to discuss an online media deal. After talks between the two broke down last month, they’re back on now, and a deal is said to be “imminent.”
The Sunday Times reported on the renewed talks, adding that William Hill approached CBS to try to give the discussion a second go. The media outlet adds that the two are in the “final stage of negotiations,” which will help the bookmaker offer a more robust platform and better compete against other operators that are also in the process of securing their own deals.
Both GVC and Flutter Entertainment have already established tentative media partnerships that will give the companies a substantial lead on the competition. GVC, along with MGM Resorts, is partnered with Yahoo Sports and, Provided the deal is allowed to go through, Flutter is going to purchase The Stars Group for just over $12 billion, giving it access to Fox Sports and Fox Bet through a deal between TSG and Fox Bet from May, 2019.
It is also an opportunity for William Hill to combat the recent deal between Penn National Gaming and Barstool Sports. That partnership gives Penn National access to a growing sports media company with a substantial fan base and a younger demographic, the exact components that bookmakers are looking for.
William Hill and CBS Sports are remaining tight-lipped on the details surrounding the deal and what it means in terms of dollars. The bookmaker’s CEO, Joe Asher, told the Financial Times last month that there was at least one deal in the works, possibly more, and there’s little doubt that the price tag will be one of the sticky points of the negotiations. CBS Sports isn’t the most-visited sports site, but it has a decent following. Plus, it’s also part of the Viacom media group, which gives it a considerable amount of clout.
Viacom and CBS Sports have a firm grip on different sports for media coverage, including pro and college football, basketball and more. They will be able to easily use this to their advantage in negotiating any media rights deal and this could mean William Hill needs to be prepared to dig deeper into its pocket. However, without a reputable media partner, its puzzle will never be complete.
