UK bookmaker William Hill has reportedly struck a major US-facing sports betting joint venture with regional casino operator Eldorado Resorts.

The news was reported Tuesday by Sky News, which claimed official word would likely be issued Wednesday. According to Sky’s report, the deal would see the Nevada-based Eldorado take a 20% stake in William Hill US, while also receiving “about £50m” in restricted stock in the UK-based parent company.

Sky said Hills had been seeking some form of broad-based tie-up with a land-based US casino operator, including Penn National Gaming, but Eldorado apparently proved a better sweet-talker or simply offered Hills the best combination of geographic reach, financial sense and familiarity.

That latter feature comes via the fact that Hills already powers the sportsbooks at Eldorado’s three Reno casinos: the Eldorado, the Silver Legacy and Circus Circus.