- William Hill has acquired a majority stake in AlfaBET S.A.S.
- The Caesars Entertainment subsidiary is looking to use this to enter the Latin American sports betting and gambling market.
- Colombia becomes the ninth regulated market where William Hill currently operates.
LONDON, U.K. – William Hill has officially expanded its online gambling and sports betting operation to Colombia with the acquisition of a majority stake in AlfaBET S.A.S.
Colombia marks the ninth regulated market that will have William Hill operating within its borders. The Caesars Entertainment subsidiary is expected to use this purchase to enter more Latin American gambling markets.
Caesars Enters Latin America
The Latin American online gambling market is expected to get even bigger as Brazil is expected to offer online gambling as early as summer 2021. This acquisition of AflaBET may be a preemptive move to ensure William Hill is prepared for the Brazilian market.
“We are delighted to announce our acquisition of a majority share in Alfabet S.A.S, and with it, our first entry into a regulated Latin American state,” said Ulrik Bengtsson, Chief Executive of William Hill PLC. “The Colombian regulated market is a role model for the Latin American gambling sector, and we are excited by this opportunity to deliver a very competitive product and safe player experience under the William Hill brand in the country.”
With this launch, William Hill joins a list of 19 active operators in Colombia. Colombia’s online gambling market has slightly suffered in recent months due to the harsh regulations set by President Ivan Duque. Revenue has in total dropped an estimated 20%-30%.
William Hill, on the other hand, has continued to grow and see major success. The online gambling operation recently partnered with ESPN which managed raise Caesar Entertainment’s stock value massively.
The company is looking to increase its value with the entrance into the Colombia gaming market and eventually even more Latin American markets.
Online gambling has boomed on a global scale. This entrance into Colombia is only a small beginning for the expansion of William Hill.