William Hill, UK’s most precious sports betting house closed the biggest deal of the year a couple of days ago, by partnering up with US Eldorado resorts, officially gaining access to the massive resort chain.
According to online casino comparison from Solicitors.guru, William Hill will now be Eldorado’s exclusive online gambling and sports betting partner. It grants them access to over 20 million regular customers that visit the different resorts across the United States.
The deal itself is pretty impressive, considering both parties have agreed to work together for the next 25 years. Of course, as you can imagine, these are incredibly good news for the British.
From a real estate point of view, William Hill has managed to, in a certain way, gain access to Eldorado’s property. The fact they will be the resort’s only sports betting operator is enormous.
The UK-based betting house has managed to access US floor and do it in the smartest way possible. Not only will they benefit from almost 23 million customers that visit all over the multiple resorts, but will benefit from the online gambling players as well.
Of course, this isn’t only exciting for William Hills, since the Eldorado hotel and resort chain has a lot to gain as well. Not from a real estate point of view, but rather from a more business perspective.
Profits for both parties
The deal states that Eldorado will receive up to 20% of the money made by the sports betting, that along with a generous share sums up to $50 million. It might sound like a lot of money, but think about how much William Hill will be making with this deal.
Moreover, this is actually not a surprise. Especially when you take into consideration how sports gambling is still a pretty new market in the United States, which makes William Hill betting house a pioneer on American field.
The partnership between the betting operator and the hotel chain is based on making sports gambling accessible and attractive for everyone who comes into the hotel.
They are already working on launching new sports books soon. Besides, William Hill is preparing to expand their online betting services, including moving to a mobile-based platform that can reach even more future customers.
This deal is a motive to a celebration for both parties involved. Especially for the UK betting house, who has made a brilliant move from a real estate and business point of view by entering the eleven jurisdictions where Eldorado is currently present. It may become twelve, counting the deal they’re planning to close with Tropicana Entertainment.
Of course, this deal is only possible thanks to the Supreme Court ruling out an old law against sports gambling in the United States. It opened the door for sport gambling houses like William Hill to take on the challenge and bring this exclusive type of betting to the US.
Without a doubt, the step taken by William Hill today will have enormous repercussions down the road for the other UK betting houses and even US-based sport betting companies, opening new and better opportunities for everyone.