Gibson Dunn and Milbank at the table as William Hill ties up with US gaming giant
Gibson Dunn takes lead role for UK bookmaker on US expansion
September 05, 2018 at 08:07 AM
2 minute read
Gibson Dunn & Crutcher is advising William Hill on a deal that has seen the UK betting firm enter a 25-year partnership with US gaming company Eldorado Resorts.
The tie-up, in which the US resorts giant would take a 20% stake in William Hill's US business for about $50m in stock, is expected to provide the UK company with fresh access to digital and land-based sports betting and online gaming across the US.
Revenues at UK betting companies have in recent months suffered in the wake of a crackdown on fixed-odds betting terminals, which William Hill hopes to offset with this US deal.
Eldorado currently owns 21 properties across 11 US states, including casinos Circus Circus in Reno and the Grand Victoria in Elgin.
The agreement secures William Hill as Eldorado's exclusive partner in the provision of retail and digital sports betting services and also extends to online gaming.
Gibson Dunn fielded a sizeable corporate team led by corporate partner Scott Calfas in Los Angeles and corporate associate Tony Downes in London, with support coming from London-based partner Nigel Stacey as well as partners Dora Arash and Mark Pecheck in Los Angeles, among others.
Milbank Tweed Hadley & McCloy, meanwhile, is advising Eldorado, with a team led by corporate partner Deborah Conrad in Los Angeles.
Gibson Dunn previously advised William Hill alongside magic circle firm Slaughter and May on its proposed £4.5bn merger with Canadian online gambling company Amaya, which later fell through.
Slaughters is one of five firms on William Hill's UK legal panel, which was reviewed last year, alongside Linklaters, Addleshaw Goddard, Eversheds Sutherland and Wiggin.
Photo credit: Carole J Buckwalter
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