William Hill, one of the most famous operators in the world in the sports betting industry, made an announcement that they had agreed with a gaming operator from the US called Eldorado to sell 20% stake in its US business. The agreement also states that William Hill is to become the exclusive operator for sports betting which will act as a part of Eldorado.
The things are slowly changing on the US market as the sports betting is slowly becoming implemented in this country and many giants are looking for opportunities to offer their services and win the over the potential bettors.
William Hill seems to be doing pretty good, and this agreement has given them a lot of opportunities due to the fact that Eldorado has 21 properties at the moment which are located in 11 states of the US.
Eldorado is not chosen at random, as the officials in Wiliam Hill carefully planned their expansion. Namely, this operator which is based in Nevada recently made a deal to acquire Tropicana Entertainment. This will significantly extend their presence which means that William Hill’s presence will be extended as well. Once Tropicana Entertainment is successfully acquired, Eldorado will have a total of 26 casinos which will be located in 13 US states. The acquisition is likely to take place by the end of 2018.
This announcement is the logical consequence of the sports betting legalization in many of the US states. Furthermore, many more are actively working on changing their respective laws to allow this type of activity on their home soil.
It will bring a lot of great things, especially when it comes to revenue as sports betting has huge potential in the whole US market. So far, only four states have completely legalized sports betting. However, at least ten other states are expected to finish the legalization procedure very soon, which means that the casinos that already exist in these states will probably offer sports betting as well.
Philip Bowcock, a CEO of William hill stated that he was very happy with that partnership as it was one of the most attractive casinos that had had more than 23 million satisfied customers all over the world. He added that the partnership would allow for great opportunities when it comes to the profit for both sides. They are stronger together and it will definitely be interesting to see how already established sports–betting operators would approach the fresh US market.
William Hill is actually not new to the US market which gives them a slight advantage in comparison to their competition. As a matter of fact, they have been present in Nevada where sports betting was not included in the federal ban that happened back in 1992. At the moment, William Hill claims to hold a total of 31% of the Nevada market which is a pretty good thing if they want to expand their influence on other states.
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