William hill to expand in the United States

  • William hill to expand in the United States
    Independent.t. E.
    British gambling giant William hill is expanding in the United States.
    https://www.independent.ie/business/world/william-hill-to-expand-into-the-us-37284755.html
    https://www.independent.ie/world-news/and-finally/article34901542.ece/07045/AUTOCROP/h342/PANews_P-7913502f-a704-45ec-af2b-824183a37eb4_I1.jpg

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British gambling giant William hill is expanding in the United States.

The company will market through a partnership with a group of us Eldorado resorts.

This comes against the backdrop of increasing liberalization of gambling laws in the United States, after a U.S. Supreme Court decision earlier this year, which overturned a Federal law severely limits betting on sports has existed since 1992.

In accordance with the terms of the agreement, William hill becomes the exclusive partner of the Eldorado for providing digital and terrestrial sports betting services and online games.

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As a result, the achievement of William hill will extend to 13 States where betting on sports is either legal or sports betting bills for consideration.

In return, Eldorado will be provided with a 20pc stake in the business William hill USA. He will also receive $50 million (€43m) in the presence of William hill, and the share of profits allocated to its license.

“The partnership with Eldorado gives William hill access to one of the largest and most attractive contours casino with 23 million customers in several States,” Philip Bowcock, CEO of William hill, said.

“This partnership provides opportunities of cross sales and earnings growth for both parties. Together, we are situated to reflect the changing us the opportunity, starting with land-based sports betting and ending with the digital sports betting, and in some States, online games.”

Earlier this year, William hill announced half-year pre-tax loss of £819.6 m in the six months to June 26. It was against the increase of 3pc in the group’s net income to £802.6 m.

Its results were knocked by £882.8 m impairment on its trade transactions associated with the decision of the UK Government to reduce the maximum stakes on fixed odds betting terminals from £100 to £2.

(Additional reporting PA)

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