29th Jan 2019 16:00
Completion of US Partnership with Eldorado Resorts
William Hill PLC (LSE: WMH, "William Hill" or the "Group") today announces that following the receipt of all requisite gaming and regulatory approvals, it has today closed the transaction with Eldorado Resorts, Inc. (NASDAQ: ERI, "Eldorado") announced on 5 September 2018, pursuant to which William Hill and Eldorado have entered into an exclusive nationwide partnership for digital and land-based sports betting and online gaming in the United States.
In connection with closing of the transaction, Eldorado has been issued with (i) 13,430,434 fully paid ordinary shares of 10p each in William Hill (the "Consideration Shares") and (ii) shares representing 20% of the share capital of William Hill U.S. Holdco, Inc., the holding company of William Hill's US operations. The Consideration Shares are subject to a lock-up of 3 years in respect of 50% of the Consideration Shares and 5 years in respect of the remainder of the Consideration Shares, and rank pari passu with the existing ordinary shares of the Group. Application will be made for the Consideration Shares to be admitted to the premium segment of the Official List and to be admitted to trading on the London Stock Exchange's main market for listed securities to take place at the earliest opportunity.
OAM: Additional Regulated Information
William Hill LEI: 213800MDW41W5UZQIX82
For further information contact:
William Hill | Lyndsay Wright, Director of Strategy and Sustainability Tom Randell, Head of IR Ciaran O'Brien, Director of Corporate Communications | Tel: 44 (0) 20 7612 3000
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Brunswick | Andrew Porter / Chris Buscombe | Tel: 44 (0) 20 7404 5959 |
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 Nevada 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 now operating in New Jersey at Monmouth Park Racetrack and Ocean Resort Casino, in Pennsylvania at the Hollywood Casino at Penn National Race Course and is a licensed sports betting provider in West Virginia and Mississippi. It is the exclusive risk manager for the sports lottery in Delaware and is the exclusive partner to IGT in Rhode Island where it provides sports betting services to the lottery. William Hill has operations in Italy and Spain and serves online customers throughout the world from its Online headquarters in Gibraltar.
About Eldorado Resorts, Inc.
Eldorado Resorts is a leading casino entertainment company that owns and operates twenty seven properties in thirteen states, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, Ohio, Pennsylvania and West Virginia. In aggregate, Eldorado's properties feature more than 28,000 slot machines and VLTs and over 600 table games, and over 12,500 hotel rooms.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout these results and the information incorporated by reference into these results and include statements regarding the intentions, beliefs or current expectations of the directors, William Hill or the Group concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and dividend policy of William Hill and the industry in which it operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond William Hill's ability to control or predict. Forward-looking statements are not guarantees of future performance. The Group's actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in these results and/or the information incorporated by reference into these results. In addition, even if the results of operations, financial condition, liquidity and dividend policy of the Group and the development of the industry in which it operates, are consistent with the forward-looking statements contained in these results and/or the information incorporated by reference into these results, those results or developments may not be indicative of results or developments in subsequent periods. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance and Transparency Rules and the Prospectus Rules), William Hill does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
Related Shares:
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