Since merging with William Hill in one of the largest online gambling deals ever, Playtech — the online casino software provider — has held a 29% share of William Hill Online: a subdivision of William Hill which both Playtech and William Hill run as a joint venture.
Recently, however, talks between Playtech and Ladbrokes have occurred: talks which have raised concerns with William Hill regarding Playtech’s intentions in terms of its stake in William Hill Online.
Acting on these concerns, William Hill has sought, and has been granted, a court injunction which prevents Playtech from selling its William Hill Online stake. The injunction, according to an advisory note which both company’s made available to the stock exchange last week, “will remain in place until a further court hearing is expected to occur in May or shortly thereafter.”
William Hill Online has performed extremely well in 2010, and a great deal of this success can be accredited to, although not solely accredited to, its online sportsbook division: a division in which operating profits and revenue saw a sharp increase.
Playtech, meanwhile, appears to be expanding its services, having recently acquired Euro Partners: a top global affiliate program with over 50,000 members.