Eldorado Resorts 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 of Eldorado for 25 years across jurisdictions where the activity is legal, the company also receives a 20 per cent equity stake in William Hill US.

This encompasses all of its existing businesses in Nevada, New Jersey, Delaware, Iowa, Mississippi, West Virginia, along with The Bahamas and St Kitts, as well as future Eldorado and non‐Eldorado U.S. business.

Both organisations are also expected to equally invest in the development and construction of in-casino sportsbooks, in addition to the infrastructure needed to support in-casino wagering as well as mobile and online wagering.

William Hill US has also secured the right to operate online sports betting under the first skin and any third skin for such betting activity held by Eldorado, and online real money casino gaming under any second skin for such gaming activity held by Eldorado.

Tom Reeg, Eldorado Resorts’ CEO, explained, “Extending our long-term relationship with William Hill partners 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 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 of 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.

“Our ability to capitalise on the expected expansion of online betting and gaming is further enhanced by the 20-year definitive agreement that we entered into with The Stars Group, granting it the option to access our second skins for online sports wagering, and our third skins for real money online gaming and poker operations in the United States.

“In consideration for our partnership with TSG, we received an upfront equity interest in TSG and, to the extent that TSG exercises its options 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.”