William Hill Signs Dream Deal With Eldorado
The premier Eldorado Resorts has teamed up with William Hill. The leading betting and iGaming brand will now be the resort group’s operator in each US state where sports betting is legal. The deal entitles Eldorado to 20% equity in William Hill US, as well as 13 million ordinary shares that the company may monetize at a later stage.
In return, William Hill US gains access to the Eldorado’s 21 properties in 11 states and 23 million customers. The sportsbook will have first choice in each state that has legalized sports betting, and in other states as they become regulated. With the pending acquisition of Tropicana Entertainment Inc., William Hill’s new market may increase by a further 26 properties across 13 states and the brand will be providing the Group with both online and land-based sports betting and online gaming services.
A Long and Profitable Relationship
Eldorado plans to offer the brands services at five properties immediately, and will then expand property by property after that. The initial properties that will offer the new services include The Tropicana in Atlantic City, Vicksburg’s Lady Luck Casino, Tropicana Greenville, Isle of Capri Lula, and The Mountaineer Casino Racetrack and Resort WV.
The two companies have a long-standing relationship as the trusted bookmaker brand has been supplying its services to Eldorado Nevada since 2012. With the new regulations surrounding sports betting in the US an extended partnership incorporating new states has been a natural transition for both companies. They have signed an exclusive 25-year agreement.
CEO of Eldorado Inc., Gary Carano, has said that since the companies have worked together since 2012, Eldorado believes that William Hill is the gold standard in the industry. He went on to share Eldorado Inc.’s confidence in the partnership and that it looks forward to presenting its clients with the excitement of sports betting.
William Hill’s CEO Philip Bowcock highlighted the opportunities that both companies can benefit from following the extended partnership. The new agreement gives them access to one of the biggest and best casino groups in the industry. Together they can corner the land-based market and eventually expand to include digital.
In addition to the terms already mentioned, the extended 25-year agreement gives William Hill exclusive rights to Eldorado’s sports betting channels. This includes digital, retail and online channels. Furthermore, the partnership includes all of Eldorado’s sites, including those not yet regulated.