William Hill Announces Playtech Deal Media Man Australia

William Hill Announces Playtech Deal

William Hill has announced that it has acquired certain assets, affiliates and businesses from Playtech Ltd, and at the same time has entered into a five year agreement with Playtech for them to provide online gaming software which will make William Hill Online the leading provider of online gaming and betting services in Europe.

A statement issued by William Hill PLC reveals that it will have a 71% controlling interest in William Hill Online, with Playtech having 29%. William Hill has the right to acquire Playtech’s interest which it can exercise after four and six years.

The move is designed to keep William Hill at the cutting edge as far as both online betting and gaming are concerned. Playtech’s new software platform will allow William Hill sports bettors to bet on their favourite sports like never before, with popular features such as betting in running becoming available with William Hill for the first time. The deal will also make William Hill a major player in the online casino and online poker markets.

Of course, William Hill already has presence in the world of online gaming, but thus far it has really taken second place to its sportsbook facilities. The Playtech deal will change all of that and make William Hill Online one of Europe’s leading online gaming companies.

Ralph Topping, CEO of William Hill PLC, said: “This transaction is a transformational step for William Hill consistent with our stated strategy to increase online gaming and international earnings. William Hill Online will be the leading European online gaming and sports betting business and the clear online leader amongst UK land based gaming and betting operators. The transaction generates significant shareholder value and enhanced growth prospects for William Hill.”

Mor Weizer, CEO of Playtech, said: “This series of transactions is very significant for Playtech. We are delighted that Playtech is to provide software to a market leader such as William Hill and believe that the licence agreement confirms Playtech’s status as the leading software provider to the global online gaming marketplace. We are excited to be working with a company that has the scale and breadth of William Hill.”

Profiles

News