William Hill and Playtech Court Case UpdatePublished March 22, 2011 by OCR Editor
Will Playtech be allowed to sell its stake in William hill Online?
Online casino software provider Playtech holds a 29% share of the joint venture William Hill Online, ever since it merged with William Hill in one of the biggest online gambling deals in history. Now that Playtech is in talks with Ladbrokes, William Hill is concerned about Playtech's share in the company.
So it went to court. And the court granted William Hill an injunction. The injunction prevents Playtech from selling its stake in William Hill Online. In an advisory note to the stick exchange last week, the two companies said: "This injunction will remain in place until a further court hearing which is expected to occur in May or shortly thereafter."
It is worth mentioning that William Hill Online has fared very well in 2010. Operating profits and revenue, mainly in the online sportsbook division but not limited to it, have increased in the past year.
Playtech has recently acquired Euro Partners, a leading affiliate program with more than 50,000 members in its global network. It is clearly set on entering local markets and offering diverse services from operations to marketing.