Will Hill to buy out Playtech?

[IanO]

Hi Guys,

I just found this and figured it's worth sharing. Hope someone else has not already done so and I missed the thread.

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A snippet:

The company said it was taking a step towards full control of its fast growing online joint venture today. It is requesting a valuation for the 29% minority stake held by partner Playtech.

"We are also announcing today that we intend to commence the valuation process relating to the minority share in William Hill Online prior to making a decision on this by the end of the first quarter of 2013," chief executive Ralph Topping said.

 

[Redbet-Andy]

Interesting.
It can only be positive if they buy up the Playtech share.

Hi Guys,

I just found this and figured it's worth sharing. Hope someone else has not already done so and I missed the thread.

You do not have permission to view link Log in or register now.

A snippet:

The company said it was taking a step towards full control of its fast growing online joint venture today. It is requesting a valuation for the 29% minority stake held by partner Playtech.

"We are also announcing today that we intend to commence the valuation process relating to the minority share in William Hill Online prior to making a decision on this by the end of the first quarter of 2013," chief executive Ralph Topping said.

 

[rainmaker]

Here is the message that Playtech sent out to the financial market earlier today:

Playtech Limited​

("Playtech" or the "Company")​

William Hill Online ("WHO") announcement​

Playtech, (LSE: PTEC) the international designer, developer and licensor of software and services for the online, mobile and land-based gaming industry, notes today's announcement by William Hill plc ("William Hill") stating that it will begin the valuation process for WHO as part of its right to exercise its call option over Playtech's 29 per cent stake in the business.

Playtech continues to engage in constructive discussions with William Hill regarding the future of the joint venture, one of the most successful ever in online gaming.

WHO is a key driver of William Hill's overall success and, as a major supplier to WHO and the wider business, Playtech is dedicated to maintaining its close working relationship with William Hill to support its continued growth, as is the case with all of the Company's licensees.

In the event that the option is exercised Playtech is committed to the smooth handover of the 29% stake in order to ensure a seamless transition and support WHO's growth going forward.

Mor Weizer, Chief Executive Officer of Playtech, said:

"WHO has been a phenomenally successful and transformational partnership for William Hill and Playtech, consistently achieving double-digit growth year on year. Current trading is very encouraging and regardless of William Hill's as yet undetermined final decision on the call option, we look forward to working with WHO and maintaining our very positive relationship. Playtech actively supports all of its licensees and believes that there is significant continued growth potential for WHO."

-Ends-

 

[GOCC]

This is only William Hill buying out Playtechs shares in WHO. Nothing to do with them buying the software group Playtech.

 

[chayton]

Since William Hill runs so many Playtech casinos, it would be a hefty chunk of change to buy out those shares, I bet.

It will be interesting to see what happens to WH casinos once they do - I wonder if then they could add non-Playtech games...? And will they still have the standard Playtech progressives?

I'm thinking it might be kinda like what Bodog did, they're RTG but have control over their own software.

 

[chuchu59]

Willhill may have the financial clout but honestly they havent done a fine job on the casino side and their support is almost non-existent. I would have hoped it would be Bet65 who bought Playtech at least for the sake of players.

 

[xubuntu69]

interesting thread.

thanks for the info !