Las Vegas-based gaming company Golden Entertainment, Inc. (NASDAQ: GDEN) has inked a long-term agreement with renowned British bookmaker, William Hill, that will see it manage the company’s Nevada, Montana and Maryland race and sports operations.
The deal expands upon the existing agreement Golden Entertainment has with the bookmaker, which includes operating deposit kiosks at approximately 80 of Golden’s taverns and third-party distributed gaming locations across the Silver State and at its Pahrump Nugget Hotel & Gambling Hall (pictured right) according to the official press release.
The enhanced partnership also further extends William Hill’s relationship with the operator to include the operation of race and sports books at three of Golden’s Las Vegas properties including Arizona Charlie’s Decatur, Stratosphere Casino, Hotel & Tower and Arizona Charlie’s Boulder, as well as at Aquarius Casino Resort in Laughlin, Nevada. The race and sports books at Edgewater and Colorado Belle casino resorts in Laughlin will also continue to be run by the bookmaker post-finalization of the acquisition of said properties by Golden Entertainment in the first quarter of 2019.
Additionally, under the terms of the agreement, there is to be a minimum of 100 William Hill mobile deposit kiosks at Golden Entertainment’s “wholly-owned taverns and third party distributed locations in Nevada,” according to the press release.
The two companies will also pursue sports betting opportunities in Maryland and Montana, subject to the passage of legislation in the two states. Currently, Golden Entertainment operates distributed gaming at 300 locations across Montana and owns Rocky Gap Casino Resort in Cumberland, Maryland.
New sports betting markets:
Maryland is moving towards legalization, with the February 9 introduction of House Bill 989, which calls for the establishment of a task force to “study the implementation of sports gaming in the state.” The draft legislation includes the allocation of a “sports gaming license” and the ability to accept wagers on sporting events as long as the person who is betting is at least 21 years of age. However, the proposed Maryland legislation did not progress in the 2018 legislative session.
Montana is also moving toward legalization, with a law already on the books which allows sports pools, fantasy sports leagues and sports tab games. They are non-banking games where the players bet against and settle with each other rather than with the house, according to the Montana Department of Justice.
Currently, the Montana Lottery offers a type of fantasy sports pool for auto racing and for football. If lawmakers in “Big Sky Country” look to expand the legal sports betting offerings in the state, a new law would probably need to be enacted or the Montana Lottery would need to be empowered to release revised/new regulations.
Chief Operating Officer for Golden Entertainment, Inc., Joe Asher said…
“We are excited to expand our current relationship with William Hill, which has a proven sports wagering platform not only in Nevada but around the world. We look forward to growing our business in Nevada and other jurisdictions through this partnership.
“Since entering the United States, William Hill has had an excellent relationship with Golden Entertainment and we look forward to continuing it for many years to come in Nevada and elsewhere as opportunities arise,” said Joe Asher, CEO of William Hill US.
It is expected that William Hill will begin to operate Golden Entertainment’s additional Nevada race and sports books by December this year, subject to regulatory approval.