Market Overview

Eldorado Resorts Partners with William Hill US to Bring Sports Wagering to Company's National Casino Portfolio


Eldorado to Receive $50 Million Equity Stake in William Hill PLC and
20% of William Hill US in Exchange for Agreement to Establish William
Hill US as Eldorado's Exclusive Sports Wagering Service Provider

Eldorado Resorts, Inc. (NASDAQ:ERI) ("Eldorado" or the "Company") and
William Hill PLC (LON: WMH) announced today that the companies have
entered into a definitive agreement pursuant to which William Hill US
will become Eldorado's exclusive sports betting operator for a period of
25 years at its properties in jurisdictions where sports betting is
legal. Eldorado will also work with William Hill US to leverage its
licenses to operate mobile and online sports wagering operations in the
United States. At the closing of the transactions contemplated by the
agreement, Eldorado will receive a 20% equity stake in William Hill US
as well as ordinary shares of William Hill PLC (LON: WMH) with a value
of $50 million (based on the 60 day volume-weighted average trading
price of William Hill PLC shares ending on September 4, 2018). Pursuant
to the terms of the agreement, Eldorado will have the opportunity to
monetize its equity in William Hill US following a public offering of
William Hill US or through a conversion of the 20% equity stake to
William Hill PLC shares or cash at William Hill's discretion after five
years. Eldorado expects its casinos in West Virginia and Mississippi to
be ready for sports betting this NFL season.

Gary Carano, Chairman and Chief Executive Officer of Eldorado,
commented, "We are excited to extend our existing relationship with
William Hill through this agreement to offer in-casino, mobile and
online sports wagering to our customers nationwide, subject to
regulatory and legal approvals in our 11 current jurisdictions as well
as the additional jurisdictions we expect to enter through our pending
transaction with Tropicana Entertainment. The terms of the agreement
announced today acknowledge the strong expected value to be created as
Eldorado rolls out sports betting, following enacting legislation or
regulatory approvals, across its broad national geographic platform,
which, pro forma for announced transactions includes 26 properties.

"Since 2012, William Hill has provided exceptional service to our
customers in Nevada as our exclusive sports book operator at Eldorado
Resort Casino Reno, Circus Circus Hotel Casino Reno and Silver Legacy
Resort Casino Reno. Based on our long-term experience with sports
betting we are confident that sports betting will bring new customers
and a new revenue stream to our regional properties while serving as a
significant revenue driver for our existing gaming and non-gaming
businesses. We believe William Hill represents the gold standard in
global sports wagering and expect our expanded partnership, including an
attractive equity stake in their U.S. business and in William Hill PLC,
to extend the excitement of sports wagering to our growing platform of
leading casino resorts while creating value for all shareholders."

Philip Bowcock, Chief Executive Officer of William Hill PLC, added, "As
we sought to expand our U.S. presence following the Supreme Court's
decision to overturn PASPA, we sought to be aligned with a strong
partner with a large and growing footprint across the country. Given our
existing arrangement with Eldorado Resorts in Nevada, we understand
their commitment to providing guests with unbeatable service and
market-leading gaming and entertainment amenities and we see their
values as closely aligned with ours. We are excited to work with the
Eldorado team to bring the best in in-casino, mobile and online sports
wagering experience to customers in Nevada and beyond as the
jurisdictions Eldorado serves begin to legalize sports wagering."

Eldorado's 20% equity stake in William Hill US includes all of William
Hill US' existing businesses in Nevada, New Jersey, Delaware, Iowa,
Mississippi, West Virginia, along with The Bahamas and St. Kitts, as
well as future Eldorado and non‐Eldorado U.S. business. William Hill US
generated adjusted operating profits of $28.5 million in 2017.

William Hill US and Eldorado have agreed to invest equally in the
development and construction of in-casino sports books as well as in the
infrastructure needed to support in-casino wagering as well as mobile
and online wagering. The companies expect to focus initially on New
Jersey, Iowa, Mississippi and West Virginia.

William Hill US has also secured, pursuant to this agreement, the right
to operate online real money casino gaming under any second skin for
such gaming activity held by Eldorado.

The consummation of the transaction is subject to customary closing
conditions, include receipt of required regulatory approvals and
termination of the waiting period under the Hart-Scott-Rodino Act.

Milbank Tweed Hadley & McCloy LLP acted as legal counsel to Eldorado in
connection with the transaction.

About Eldorado Resorts, Inc.

Eldorado Resorts is a leading casino entertainment company that owns and
operates twenty one properties in eleven states, including Colorado,
Florida, Illinois, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio,
Pennsylvania and West Virginia. In aggregate, Eldorado's properties
feature approximately 22,000 slot machines and VLTs and 640 table games,
and over 7,000 hotel rooms. On April 16, 2018, the Company announced
that it entered into an acquisition agreement for Tropicana
Entertainment Inc. with the transaction expected to close in the 2018
fourth quarter. For more information, please visit

About William Hill

William Hill PLC is one of the world's leading betting and gaming
companies, employing over 15,000 people. Its origins are in the UK where
it was founded in 1934, and where it is listed on the London Stock
Exchange. The majority of its $2.1 billion annual revenues are still
derived from the UK, where it has a national presence of licensed
betting offices and one of the leading online betting and gaming
services. In 2012, it established William Hill US with a focus on retail
and mobile operations in Nevada, which is now the largest sports betting
business in the USA. William Hill US currently operates 108 race and
sports books in Nevada and the state's leading mobile sports betting
app. Following the ruling in May 2018 by the Supreme Court that the
federal ban on state sponsored sports betting was unconstitutional, the
company is planning to operate where permitted by law throughout
America. William Hill US is already operating in New Jersey, Nevada,
Delaware, and Iowa, Mississippi and West Virginia and is the exclusive
risk manager for the sports lottery in Delaware. William Hill also has
licensed operations in The Bahamas, Italy and Spain and serves online
customers throughout the world from its online headquarters in Gibraltar.

Forward-Looking Statements

This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements regarding our strategies,
objectives and plans for future development or acquisitions of
properties or operations, as well as expectations, future operating
results and other information that is not historical information. When
used in this press release, the terms or phrases such as "anticipates,"
"believes," "projects," "plans," "intends," "expects," "might," "may,"
"estimates," "could," "should," "would," "will likely continue," and
variations of such words or similar expressions are intended to identify
forward-looking statements. Although our expectations, beliefs and
projections are expressed in good faith and with what we believe is a
reasonable basis, there can be no assurance that these expectations,
beliefs and projections will be realized. There are a number of risks
and uncertainties that could cause our actual results to differ
materially from those expressed in the forward-looking statements which
are included elsewhere in this press release. Such risks, uncertainties
and other important factors include, but are not limited to: (a) our
ability to obtain required regulatory approvals (including approval from
gaming regulators and expiration of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976) and satisfy or
waive other closing conditions to consummate transactions on a timely
basis; (b) the possibility that the transaction does not close on the
terms described herein or that we are required to modify aspects of one
or more of such transactions to obtain regulatory approval; (c) the
possibility that sports betting and online and mobile betting and gaming
are not approved in various jurisdictions, or, to the extent that such
gaming activities are approved, the market for such gaming does not
develop as anticipated; and (d) and other risks and uncertainties
described in our reports on Form 10-K, Form 10-Q and Form 8-K.

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