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Bookmaker William Hill is giving 29 percent of its online business to web gaming software maker Playtech, in a deal that sees the pair form…

Bookmaker William Hill is giving 29 percent of its online business to web gaming software maker Playtech, in a deal that sees the pair form a JV aiming to become Europe’s leading online gaming operator. The Dublin vendor will immediately invest $250 million in various online gaming assets to contribute to the William Hill Online JV, locks Playtech in to provide online poker and casino games for a minimum five years, based on its forthcoming Orbis platform.

William Hill CEO Ralph Topping (via Guardian.co.uk): “We could not stay the way we were, it was not an option – we were weak.” William Hill said AIM-listed Playtech gives it “online marketing and customer retention expertise”. The JV forecasts 2008 sales of £190 million – above the £68 million William Hill Interactive recorded for the first half of this year, though integrating the pair will suck up £24 million and will take until next September. Release.

In Q3 earnings yesterday, William Hill Interactive acknowledged: “In a challenging, competitive environment, poker has suffered from weak player liquidity. The performance of both poker and casino have been impacted by William Hill Interactive being a predominantly UK focused business built on sports betting with limited online gaming expertise.” Release.

  1. Holdem Guide Monday, June 22, 2009

    Playtech is clearly the leader in Europe as it supports Titan Poker and Chili Poker.
    http://born4holdem.com/

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