William Hill Approved to Manage 7 More Nevada Sportsbooks
William Hill US expanded its operations in Nevada with three separate deals over the past week: one each with Eldorado Resorts, Golden Entertainment, and Jerry’s Nugget. The deal includes William Hill sports betting licenses for seven casinos throughout Nevada in all, bringing William Hill’s sportsbook operations to 115 in the state.
The Nevada Gaming Control Board recommended licenses for all seven facilities, so only the Nevada Gaming Commission needs to approve the deals for them to be official.
Prior to the announced deals, William Hill US ran 108 of the 128 sportsbooks and betting shops in Nevada. William Hill’s main executives back in Gibraltar have said they expect the UK bookmaker’s future growth to take place in the United States.
It was William Hill’s deal with Monmouth Park that led to a protracted legal battle between the major US sports associations and the State of New Jersey. That legal battle, which began with a lawsuit filed in October 2014, that led to the 2018 Supreme Court decision which struck down a federal ban on sports betting.
Golden Entertainment Deal
Since then, William Hill US has made a variety of strategic partnerships with US gaming groups. Four of the properties belong to Golden Entertainment, a company with 8 Nevada casinos. Golden Entertainment was formed in 2015 when Blake Sartini’s Golden Gaming merged with Lyle Berman’s Lakes Entertainment. Blake Sartini owns 35% of the company and acts as CEO. Lyle Berman owns 11% of Golden Entertainment.
The four Golden Entertainment casinos which will host William Hill sportsbooks are Stratosphere Las Vegas (pictured above), Arizona Charlie’s Boulder, Arizona Charlie’s Decatur, and Aquarius Casino Resort. The first three casinos are located in Las Vegas, while the fourth is located in nearby Laughlin, Nevada.
William Hill-Eldorado Sportsbook Deal
Another deal involves Eldorado Resorts, the Reno-based company which has expanded throughout the United States the past couple of years. Eldorado Resorts owns Tropicana Resort in Atlantic City after a deal with Carl Icahn in early 2018.
William Hill will manage the bookmaker operations at two Eldorado casinos: The Eldorado Casino in Reno and the Montbleu Casino in Stateline. William Hill US chief executive Joe Asher said the Eldorado partnership might take longer to complete than the other two, because it requires a change in licensing.
Jerry’s Nugget and William Hill Sportsbooks
The seventh and final sportsbook deal is with Jerry’s Nugget in North Las Vegas. Jerry’s Nugget began in 1964 as the Town House Bar. Jerry Lodge and Jerry Stamis founded the venerable casino.
The casino has had several renovations and expansions in 1995, 2004, and 2008. Through the years, several members of the Stamis family has owned the casino. In 2008, Angelo Stamis became the first-ever casino operator who had a gaming license restored by the Nevada Gaming Commission.
Like many US casinos at the time, Jerry’s Nugget entered chapter 11 bankruptcy in 2012. Two years later, it emerged from bankruptcy and celebrated its 50th anniversary. These days, Jerry’s Nugget is owned by third-generation members of the Stamis family: Jeremy and Joseph Stamis.
William Hill Sportsbook Management
Operating a sportsbook is time-intensive and requires expert skills, because oddsmakers have to set betting lines and prop bets that will attract customers and remain profitable over time. Sports betting has a low margin, but draws customers to a casino that otherwise would not visit the site.
For that reason, casino operators often find it a better idea to make a deal with an existing bookmaker company like William Hill to operator their sportsbook. In that way, William Hill plans to spread its services across dozens of US states.
At the moment, only 8 states have legal sports betting, but analyst firm Eilers & Krejcik estimates as many as 32 US states will legalize sports betting by the year 205.