William Hill Plc is one of the prominent UK gambling operators. It has been active for more than a few decades in the high streets of Britain. It has become much bigger ever since, by branching into the online gambling industry, as well as other markets around the world. The UK company just announced that it has succeeded in securing its very first South American sportsbook venture. It achieved that by acquiring a majority of stakes in Alfabet SAS, the Colombian-licensed sportsbetting operator.
William Hill Acquires Alfabet at the End of 2020
Closing up its 2020 trading, William Hill, the FTSE250 gambling operator, announced its acquisition of Alfabet. That makes Colombia the 9th regulated market in which William Hill has an active presence. Alfabet is one of the biggest operators in Colombia. It has been active in the regulated Colombian industry since 2018. Alfabet is the operating company of BetAlfa.co, which is an online sportsbook as well as an online casino brand that is approved by the federal government. It also has a Coljuegos license, which is the national regulatory authority in Colombia.
As a part of a transaction notice, William Hill backed the progressive internet gambling regulations of Coljuegos. It is the first LATAM regulatory jurisdiction to adopt the European-style when it comes to its licensing system. That means that it allows foreign-based operators to compete inside of the marketplace.
William Hill’s CEO Comments on the Acquisition
Ulrik Bengtsson, the CEO of William Hill, said that they are happy to announce such an acquisition. He added that this acquisition is the first entry into a Latin American country. Ulrik also said that the Colombian market is a role model for the entire gambling sector of Latin America. He also stated that they are excited by this chance to provide their competitive product with a safe player experience under the William Hill flag in the Colombian market.
William Hill is going to be following its FTSE competitors in the Colombian market. They are Flutter Entertainment and Entain PLC. Both of these operators announced that they would launch flagship brands in Colombia during their Q4 trading announcements. They have secured local partnerships and will launch their website, Betfair and Bwin, in early 2021.
2021 – a Big Year for South America’s Gambling Markets
2021 has been marked as an essential pivotal year for the online gambling sector of South America. The government of Argentina and Brazil are going to settle on the final regulatory laws and conditions as they launch the new marketplace’s regime. Meanwhile, the UK gambling operator, William Hill, is going to be awaiting a further transformative year in 2021. It is because the new owners of the US-basedCaesars Entertainment will finalize their plans to sell the heritage betting group’s European and the UK betting units. Of course, analysts are expecting William Hill to be in hot pursuit of those betting units.