William Hill PLC has bought an affiliate marketing business, customer services operation and casino brands and websites, from Playtech, the listed online gambling software giant. William Hill Online has commited to using Playtech´s software to power its sites for at least 5 years (for its casino and poker sites online).
With William Hill´s brand and sportsbook knowledge and Playtech´s leading position in the online casino, poker and bingo business, the deal promises to fast-track the company to the head of the industry. Playtech has more players on its poker network for a start which brings immediate benefits.
William Hill will control and run a new company and subsidiary: William Hill Online, of which Playtech will own a share of 29%. William Hill has an option to buy Playtech's share in 4 or 6 years time. The deal will cost William Hill £24 million but is forecast to be earnings positive for the William Hill in the first full year. Henry Birch becomes the CEO of William Hill Online, effective immediately. Henry Birch was previously Chief Executive of Leisure & Gaming PLC. William Hill Online will draw on the strengths of the management team of both sides with Eyal Sanoff is Chief Marketing Officer and Peter Marcus Chief Operating Officer.