Will Hill receives regulatory approvals for Eldorado Resorts partnership
News on 30 Jan 2019
News on 30 Jan 2019
William Hill PLC has received all the requisite gaming and regulatory approvals relating to its exclusive nation-wide partnership for digital and land-based sports betting and online gaming in the United States with Eldorado Resorts Inc.
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 (consideration shares) and shares representing 20 percent of the share capital of William Hill U.S. Holdco, Inc., the holding company of William Hill’s US operations.
The Consideration Shares are subject to a lock-up of 3 years in respect of 50 percent of the Consideration Shares and 5 years in respect of the remainder of the Consideration Shares, and rank pari passu 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.
