Rumours of Caesars merging with William Hill were previously mooted but, following Eldorado Resorts' $17.3bn acquisition of Caesars, the operator now has more market power when it comes to acquiring its fellow retail and online operator.
Caesars has since emerged as a candidate, alongside Apollo Global, for a £2.9bn ($3.72bn) takeover of the company.
Where William Hill would benefit Caesars most is its online and sports betting presence, with Barnick suggesting its proven model offers "reliability and stability" for any potential acquirer.
The analyst told Gambling Insider: "Over the last few years we have seen an increased level of regulation constraining sports betting in the UK in contrast to the US where the market has been opening up since 2018, when the US federal court ruled to overturn an earlier prohibition on sports betting. The US market has since become a key strategic region for operators like William Hill with aggressive expansion plans.
"William Hill has proven itself to be a good actor in the US after its almost unblemished delivery model in Nevada for the years that they've operated. This reliability and stability is a strong advantage the William Hill brings to the table."
Barnick added that any acquisition of William Hill's customer data, in particular, will be a source of strength for Caesars, considering rising acquisition costs.
"With regulation being determined on a state-by-state basis, Caesars' large existing footprint in the US will put William Hill in a strong position to capitalise on the complex and changing market landscape," he said.
"Any data exchange as a result of this deal, in particular around customer data, will be highly valuable at a time where customer acquisition costs are rising and competition is strong."
