Hill to Team Up With Playtech
Betting giant William Hill is giving
its online sports betting, casino and poker business
a huge shot in the arm by buying out parts of
casino, poker and bingo software giant Playtech.
CEO Ralph Topping, a William Hill employee for
over thirty years, called the deal "transformative''
and commented that it will transform William Hill
into the biggest European destination for online
sports betting and gambling.
William Hill will give Playtech a 29% share in
the Wiliam Hill Online business, in exchange for
the assets. The online division will be managed
as a separate company under the William Hill umbrella.
Hill has an option to buy out Playtech's share
4 or 6 years down the line at market rates.
Hill´s shares headed north to the tune of
William Hill expects to make reveunues of £190
million and an EBIT of £75m in 2008.
an email to its partners, Henry Birch , the CEO
of William Hill online, extended a warm welcome
to "Europe’s Leading Online Gaming
and Sports Betting Group" and explained the
detail on one of the largest mergers in online
gaming and sports betting history. The affiliate
programs of William Hill, Cpays, & Webroute
Affiliates will be merged together to form one
of the largest affiliate networks in the world.
The transformation starts in 2009 and should be
fully set up by the end of that year.