Play to win
by: Ben Simons - Last updated: 2008-10-22
Playing roulette at a Playtech casino
Israeli-founded online gaming operator Playtech, who supplies software to many leading casinos has struck a deal with bookmaker William Hill to create Europe's biggest online gaming company.
The deal sees Playtech acquiring a number of businesses including an affiliate marketing company for $250m from Uniplay, a company controlled by its founder and major shareholder Teddy Sagi and putting them into the new William Hill Online company which will be 29% owned by Playtech.
The move will now allow William Hill to ramp up its online activities, something the company feels will help it grow its online business. "It is well documented we have made slow progress in our technological developments in the last three to four years," said Ralph Topping, chief executive of William Hill.
For Playtech, the deal is a major part of its planned expansion. "This series of transactions is very significant for Playtech," said Playtech chief executive Mor Weizer. "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."