Eldorado Resort has completed its previously announced transaction alongside William Hill, designed to bring sports betting to the company’s US Casino Portfolio.
Serving as sports betting operator for Eldorado for 25 years across jurisdiction where the activity is legal, the company also receives a 20 percent equity stake in William Hill US.
Both organisation are also equally expected to equally invest in the development and construction of in-casino sportsbook, in addition to the infrastructure needed to support in casino wagering as well as mobile and online wagering.
Tom Reeg, Eldorado Resorts CEO, Explained: “Extending our long term relationship with William Hill partner Eldorado with the world’s leading provider of in casino, mobile and online sports wagering to launch sports wagering across our current platform of 26 properties such at such time as legislation is enacted and regulatory approvals are obtained.”
“Based on our long term experience in Reno, we believe that the addition on sports wagering to our entertainment offerings will drive customer visitation, and create a new revenue stream at our properties while enhancing our existing gaming and non gaming revenue.
“In our consideration for our partnership with TSG, we received upfront equity interest in TSG and to the extent that TSG exercises its option as online gaming and betting is legalised in various jurisdictions, we will receive a revenue share related to these verticals as well as potential further equity consideration based on certain conditions.”