Reuters: Regulatory News: UPDATE 1-William Hill to complete U.S. deals after Nevada OK

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UPDATE 1-William Hill to complete U.S. deals after Nevada OK Jun 22nd 2012, 06:50 Fri Jun 22, 2012 2:50am EDT * William Hill confirms Nevada licence award * Approval clears way to launch first U.S. operation LONDON, June 22 (Reuters) - British bookmaker William Hill will launch its first U.S. operation when it completes three acquisitions next week, following the award of a licence by the Nevada Gaming Commission. William Hill, Britain's largest bookmaker, had announced the purchase last year of the American companies but the deal was conditional on the granting of the licence. The green light from the Nevada Gaming Commission after a hearing on Thursday allows the British firm to begin offering sports betting on mobile devices and positions the company to be among the first out of the gate should legal restrictions on U.S. online gaming be lifted. "This now enables us to establish William Hill's first ever U.S. operation, an important part of our international growth strategy," said Chief Executive Ralph Topping. The company would combine its own brand and product range with the local footprint established by the three firms - AWI, Brandywine and Cal Neva, he said. The acquisitions are expected to be completed on June 27 for approximately $49m in total. A familiar name on the British high street, William Hill generated more than 90 percent of its revenues in Britain last year but is seeking to expand in regulated overseas markets. It was one of a number of British companies granted licences this month for online gaming in Spain. Link this Share this Digg this Email Reprints

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