William Hill PLC has announced that following the receipt of all requisite gaming and regulatory approvals, it has today closed the transaction with Eldorado Resorts Inc originally announced on September 5 2018.
Pursuant to the transaction, William Hill and Eldorado have entered into an exclusive nationwide partnership for digital and land-based sports betting and online gaming in the US.
In connection with closing of the transaction, Eldorado has been issued with 13,430,434 fully paid ordinary shares of 10p each in William Hill and shares representing 20% of the share capital of William Hill US Holdco Inc, the holding company of Hill’s US operations.
The Consideration Shares are subject to a lock-up of three years in respect of 50% of the Consideration Shares and five years in respect of the remainder of the Consideration Shares, and rank on an equal footing 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.