William Hill climbs on new US partnership
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Bookmaker William Hill (LON:WMH) has announced its US subsidiary has formed a new partnership with Eldorado Resorts for digital and land-based sports betting and online gaming across the United States. Eldorado currently operate 23 casinos in 11 states and will be adding a further three via acquisitions in the near future. Under the terms of the agreement, William Hill will be the exclusive supplier of sports betting and online gaming services.
Sports books will be opening in five properties within weeks, with further openings in the coming months subject to state legislation. The initial deal will run for 25 years and William Hill will retain 80% ownership of the US operation.
CEO Phillip Bowcock said: “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.”
Shares in William Hill were up by 5.88% to 263.10p (as of 11:30 BST).
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