William Hill And Eldorado Form Powerful Sports Betting And Online Gambling Partnership
The country’s largest sportsbook operator and a growing Reno, Nevada-based casino company have struck a deal to become nationwide partners on mobile, online and land-based sports betting and online gambling operations.
William Hill US and Eldorado Resorts, Inc. released details of a nationwide partnership this week that will see the leading sports betting company in the US come together with a major casino group boasting 21 properties across 11 states.
Of course, Eldorado is still finalizing a deal with Tropicana Entertainment Inc. It will see Eldorado’s casino portfolio grow to 26 properties in 13 states when it closes. However, the transaction will not close until the fourth quarter of 2018.
Eldorado’s aggressive expansion
In addition to its deal to lease and take over operations at various Tropicana properties, over the past few years Eldorado has expanded further, acquiring Grand Victoria Casino in Illinois and Isle of Capri Casinos, Inc. and its portfolio of 14 US casinos.
Although, Eldorado recently finalized a deal to sell Presque Isle Downs & Casino and hand over management of its Lady Luck Casino Nemacolin in Pennsylvania to horse-racing giant Churchill Downs Incorporated.
Under the terms this new agreement, William Hill becomes Eldorado’s exclusive partner for sports betting and online gambling.
William Hill runs more than 100 of Nevada’s almost 200 sportsbooks, making it the largest sports betting operator in the state. In fact, it already runs several sportsbooks at Eldorado Resorts venues, including recently renovated operations at its Silver Legacy and Circus Circus Resort Casinos properties.
The emerging US sports betting market
Since June, legal sports betting has also launched in Delaware, New Jersey, Mississippi, and West Virginia. Plus, a number of other states, including Pennsylvania, are lining up to do the same.
William Hill US has since opened up:
- Monmouth Park Sports Book by William Hill (NJ)
- William Hill Sports Book at Ocean Resort Casino (NJ)
- The Sportsbook at Hollywood Casino at Charles Town Races (WV)
William Hill US just launched mobile sportsbook operations in New Jersey this past weekend. The company is also the exclusive risk manager for the Delaware Lottery‘s sports betting operations. Plus, it is listed as the sportsbook partner in 13 casinos in Mississippi.
Additionally, William Hill is the exclusive partner to IGT in Rhode Island. There, it plans to supply sports betting technology and services to the state lottery. Plus, it is set to run the sportsbook at Hollywood Casino at Penn National Race Course in Pennsylvania. Although, this agreement is still pending regulatory approval.
William Hill and Eldorado
Now, this latest deal will see William Hill launch sportsbooks in five Eldorado properties across three states over the next few weeks, including:
- Tropicana Atlantic City (NJ)
- The Mountaineer Casino Racetrack and Resort (WV)
- The Lady Luck Casino in Vicksburg (MS)
- Isle of Capri (MS)
- Tropicana Casino (MS)
Additionally, the pair plan to expand sportsbook and online gambling operations in states that legalize it in the near future.
Parent company William Hill PLC CEO Philip Bowcock said Eldorado opens several doors for the company across the US:
“Partnering with Eldorado gives William Hill access to one of the largest and most attractive casino footprints with 23 million customers across multiple states. This partnership provides extensive cross sell and profit growth opportunities to both parties. Together we are positioned to capture the evolving US opportunity – starting with land-based sports betting, and extending to digital sports betting and, in some states, online gaming.”
Eldorado Chairman and CEO Gary Carano called William Hill the best sports betting company in the business:
“Having worked with the company since 2012, we believe William Hill represents the gold standard in global sports betting and we are confident that our expanded partnership will be successful. We look forward to bringing the excitement of sports betting to customers across our growing platform of leading casino resorts, creating value for all shareholders.”
Exclusive online gambling and sports betting partners
Key features include William Hill becoming Eldorado’s exclusive partner for sports betting and online casino operations. The agreement covers Eldorado’s potential 26 properties across 13 states. Plus, any new properties the company acquires or develops in the future.
The deal sees William Hill US retain 80 percent of the business. Eldorado receives $50 million worth of William Hill PLC stock and a 20 percent stake in William Hill US.
The cost of building the five new sportsbooks at the existing Eldorado casino properties will be split between the two.
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