William Hill are Planning to buy Playtech in 2013
Feb 29, 2012
Williams Hill are planning the grandest of all buy-outs next year with the acquisition of renowned online casino software developer Playtech.
Rumors are rife in the latest casino gambling news, that William Hill – the giant, world renowned sportsbook – are interested in buying out Playtech, one of the world’s leading online casino software developers, next year.
Arguably, the UK’s number one betting operator, William Hill had initially believed they would feel a pinch in profit, due to the UK’s current economic crisis. The crisis hasn’t stopped punters from betting on football and other popular sports, or from gambling in online blackjack, poker, bingo and other sites.
Speaking on the rise in William Hill’s profits, their Chief Executive Officer, Ralph Topping had the following to say: “I think you are seeing the working man saying that some of his pleasures are just not going to be foregone. He’s not spending on a new car and might be cutting back on holidays but he needs a bit of brightness in his life.”
Mr. Topping’s comments came after it was revealed that customers are spending no more than a couple of quid at a time in William Hill betting shops, with the average being GBP 3-4. This though hasn’t affected William Hill’s revenues in a negative way at it, it would seem.
With an ever expanding business and ninety two percent of its revenue coming from Britain, William Hill is planning on creating two hundred new jobs, in thirty of forty land-based betting shops by the end of the year. This surge in growth has also put forward plans to expand even larger online. Just last May, William Hill bought out the US online sportsbook Brandywine, and has made moves to secure licenses in both Italy and Spain for its own online sportsbook.
Playtech, who are currently in partnership with William Hill, hold a 29% stake in the company, but internal strife amongst themselves have led to discourse, and in 2013, William Hill will legally have the right to buy out the 29% share. A move they are widely rumored to be interested in doing.
Playtech are currently one of the biggest software providers for internet gambling sites, and a successful acquisition of their 29% share would be soon as a major move on William Hill’s part to carve out a significant portion of the online gaming market for themselves.
Tags: Bookmakers, Entertainment, Gambling, GBP, internet gambling sites, Italy, M&A, Online blackjack, online casino, online casino software developers, Online gambling, online gaming market, online sportsbook, Playtech, Ralph Topping, renowned online casino software developer, software providers, Spain, Sports betting, Sportsbook, United Kingdom, United States, William Hill, Williams Hill