Betting giant William Hill is said to be close to signing a media deal with a US partner as it looks to tap into the American market.
The bookmaker has struck up talks with media firm CBS Sports and is in the final stage of negotiations, the Sunday Times reported, adding that an announcement was imminent.
The deal would enable the FTSE 250 firm to advertise on CBS Sports’ website, which attracts 42m visitors every month.
CBS Sports, which is owned by Viacom CBS, offers sports news, highlights and analysis, with a focus on basketball, American football and golf.
Joe Asher, William Hill’s US boss, last year told the Financial Times that his company was in “multiple discussions” over a US media deal.
It comes as British bookies seek to boost their brand amid growing competition in the recently legalised US sports betting market.
The companies are also facing a squeeze on profits in the UK amid tighter regulation, including an upcoming ban on credit card gambling.
William Hill has also been hit by the government’s decision to introduce a maximum £2 bet cap on fixed-odds betting terminals, down from the previous maximum of £100. The company said it would close 700 stores as a result of the measures.
However, the firm last month posted better-than-expected profit for the full year due to “favourable sporting results”, with its US business enjoying further growth.
The tie-up with CBS Sports would follow similar deals by the bookmaker’s rivals. Ladbrokes Coral owner GVS has inked an agreement with Yahoo Sports and casino operator MGM, while Paddy Power owner Flutter is set to sign a deal with Fox Sports following its £10bn merger with Stars Group.
William Hill has been contacted for comment.