William Hill today expanded further into the US, signing a 25-year sports betting deal with casino operator Eldorado Resorts. 

William Hill shares rose by as much as 5.2% on news of the third such US deal in just over a month.

It follows a US Supreme court ruling in May lifting a ban on sports betting and opening the door to states regulating the industry. 

A crackdown in its British home market on gambling machines and stakes has driven a 19% fall in William Hill shares this year and encouraged it to look to the US for growth. 

Other betting firms have made similar moves, with GVC Holdings last month announcing a venture with hotel and casino operator MGM, while Paddy Power Betfair struck a deal with Boyd Gaming in July.

Industry researchers GamblingCompliance estimate US online sports betting will be worth $3.1 billion in revenue by 2023 as more states follow Nevada in regulating the sector. 

"We are positioned to capture the evolving US opportunity - starting with land-based sports betting and extending to digital sports betting and, in some states, online gaming," William Hill's chief executive Philip Bowcock said in a statement. 

William Hill US, in which Eldorado will take a 20% stake, is already the largest sports betting business in the US, operating 108 race and sports books in Nevada as well as the state's leading mobile sports betting app. 

Under the terms of the deal William Hill will pay $50m in stock to Eldorado, subject to a three to five year lock-up, as well as a share of profits from its licences. 

Bowcock said that the deal, which covers 26 casinos in 13 states, should have a positive impact on company results. 

"There'll be an incremental revenue coming through this because of the additional casinos we'll be able to operate in," he said, adding the company was open to further partnerships.