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exited Pennsylvania in 2018, shedding operations for both Lady Luck Nemacolin and Presque Isle Downs. Eldorado more recently agreed to sell off assets in West Virginia and Missouri to Century Casinos, which will shrink its footprint to 11 states. Still, its standalone portfolio is worth around $4 billion. Like Caesars, Eldorado seems to have big ambitions for sports betting. In September 2018, the company acquired 20% of William Hill US in exchange for market access across its portfolio. While William Hill powers its existing retail operations, Eldorado subsequently entered into another big partnership with The Stars Group. TSG has since taken on investment from Fox, so the merged company will control the deployment of the new Eldorado currently has sportsbooks in four states too, including West Virginia. Both companies have taken independent steps to create a US sports betting empire, and their combined portfolio reaches into seven legal states: Even without West Virginia, the new Caesars entity will have better access to US sports betting than any of the competition. What exactly that sports betting product will look like is anybody’s guess, but Eldorado’s CEO did provide some clues to investors. Here’s Reeg, responding to a question during the merger call on Monday: “We bring the William Hill and The Stars Group access partnerships. Caesars has a plethora of sports partnerships, including league partnerships, team partnerships, ESPN… and we see them all fitting together.
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