The Venetian Resorts Las Vegas is leaning into legal sports betting, opening a state-of-the-art Yahoo Sportsbook.
Powered by William Hill, the 12,000-square-foot space features a 1,770-square-foot LED video wall, displaying up to 40 independent sporting events.
Patrick Nichols, president a CEO of The Venetian noted, “We wanted to create the best place on the Strip to watch sports. This redesign pulls through the relaced feeling of watching a game with your friends — plush sofas, lounge chairs, great game-day eats, with the convenience of betting powered by William Hill. And through the partnership with Yahoo, we’re sure to have additional surprises in store for our guests as we move into football season and beyond.”
Yahoo has been a bit of a stealth player in the US expansion of online betting sites. The website is owned by the private equity firm Apollo Management and has been steadily moving into the sports betting space. From its early roots in daily fantasy sports (DFS), it now has a number Yahoo branded sportsbooks.
In 2019, Yahoo and BetMGM forged a multi-year partnership, resulting in more than a dozen Yahoo Sportsbooks opening across the United States. Although The Venetian is not an MGM property, Yahoo’s recent deal is hardly a surprise as both The Venetian and Yahoo are owned by the same private equity firm.
Apollo management makes it a family affair
Apollo Management acquired 90% of Yahoo in 2021, but the storied private equity firm has long been a staple in the gambling sector.
Apollo was responsible for one of the largest leveraged buyouts in the casino sector when it took Harrah’s Entertainment (currently part of Caesars Entertainment) private in 2008. It subsequently sold off its stake in 2019 but acquired other casino properties soon after.
In 2021, Apollo purchased the Great Canadian Gaming Corporation, consisting of the Hard Rock Casino Vancouver, Hastings Racecourse & Casino, River Rock Casino Resort in Metro Vancouver, and seven other casinos in British Columbia. Apollo purchased The Venetian operations in early 2022.
Yahoo’s existing William Hill ties
Apollo isn’t the only tie between The Venetian and Yahoo.
Formerly, as the VP of Yahoo Sports, Kenneth Fuchs helped usher in Yahoo’s DFS offering and develop its strong user database. Fuchs eventually left Yahoo, ending up as William Hill’s president of digital.
In 2020, William Hill acquired CG Technology, which operated The Venetian’s sportsbook. Now years later, Fuchs is again part of Yahoo’s sports betting journey as it launches its first sportsbook.
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