London-listed bookmaker William Hill has completed its partnership with New York-listed casino operator Eldorado Resorts following receipt of all requisite gaming and regulatory approvals.
Under the terms of the partnership first announced in September, William Hill will serve as the exclusive digital and land-based sports betting and online gaming partner of Eldorado, with the casino operator taking a 20 per cent stake in the William Hill US business, as well as 13.43m shares in William Hill plc.
The 13.43m shares are subject to a lock-up of three years in respect of 50 per cent of the shares, and five years for the remainder.
Shares in William Hill plc. (LSE:WMH) were trading down 0.49 per cent at 177.13 pence per share in London Wednesday morning, while shares in Eldorado Resorts Inc. (NSQ:ERI) closed in New York Tuesday at $44.11 per share, down 1.01 per cent.