William Hill US has approved and will benefit financially from the agreement announced today between The Stars Group and Eldorado Resorts. The agreement gives Stars certain options to operate online betting and gaming in states where Eldorado operates casino properties. The agreement does not modify the strategic nationwide partnership between William Hill US and Eldorado announced on 5 September.
William Hill receives 50% of the equity or equivalent in Stars Group payable for access to Eldorado’s online sports betting skins. This equity is made up of an upfront equity interest in Stars of $25m, with potentially an additional $5m of equity upon the exercise of the first option by Stars. A further equity stake may be provided after five years, based on Stars’ net gaming revenue generated in markets accessed via Eldorado.
William Hill will also receive the first $25m of revenue share payable by Stars and the majority of the revenue share thereafter.
William Hill remains Eldorado’s exclusive partner for land-based sports betting services.
Since William Hill and Eldorado announced their partnership, William Hill has opened land-based sports books at Tropicana Atlantic City in New Jersey and Mountaineer Casino Racetrack Resort in West Virginia. As a result William Hill is now operational in more US states than any other operator, with a presence in seven states.
For further information contact:
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William Hill |
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Ciaran O’Brien, Director of Corporate Communications |
+44 (0) 20 7612 3000 |
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Brunswick |
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Andrew Porter Chris Buscombe |
+44 (0) 20 7404 5959 |
Notes to editors
About William Hill
William Hill PLC is one of the world’s leading betting and gaming companies, employing over 16,000 people. Its origins are in the UK where it was founded in 1934, and where it is listed on the London Stock Exchange. The majority of its $2.1 billion annual revenues are still derived from the UK, where it has a national presence of licensed betting offices and one of the leading online betting and gaming services. In 2012, it established William Hill US with a focus on retail and mobile operations in Nevada, which is now the largest sports betting business in the USA. William Hill US currently operates 108 race and sports books in Nevada and the state’s leading mobile sports betting app. It operates a racebook in Iowa and has licensed operations in The Bahamas and St. Kitts. Following the ruling in May 2018 by the Supreme Court that the federal ban on state sponsored sports betting was unconstitutional, the company is planning to operate where permitted by law throughout America. William Hill US is operating in New Jersey at Monmouth Park Racetrack, Ocean Resort Casino and Tropicana Atlantic City and is a licensed sports betting provider in West Virginia, Pennsylvania and Mississippi. It is the exclusive risk manager for the sports lottery in Delaware and is the exclusive partner to IGT to provide sports betting services to the lottery in Rhode Island. William Hill has operations in Italy and Spain and serves online customers throughout the world from its Online headquarters in Gibraltar.
